What was the main reason that england lost its hold on the textile industry?

The correct answer is the following.

The main reason that England lost its hold on the textile industry was that the plantations in the United States started to grow cotton.

Cotton became the principal activity in the Southern states of the United States. In these plantations, slaves worked the fields. Indeed, slavery was an important factor to harvest cotton and represented a vital element in the economy of the  South. States like Texas, Mississippi, Louisiana, Alabama, and Arkansas grew so much Cotton that was to satisfy the demand in the Northern states and it was exported to England.