In 2023, Italy led Europe with 457 high growth enterprises in wearing apparel, though it experienced a slight decline of 1.26% compared to the previous year. Portugal, with 164 enterprises, saw a significant drop of 10.62%. Hungary showed positive growth of 5.12%, reaching 95 enterprises. The Czech Republic decreased by 3.22%, while Lithuania and Slovakia fell by 6.98% and 10.13%, respectively. Latvia faced the sharpest decline at 25.42%, and Norway, though smaller in scale, grew by 8.45%. Overall, the sector faced challenges across the region, with only a few countries experiencing growth.
Future trends to watch for in Europe's wearing apparel industry include technological advancements in production, sustainable fashion trends, and a growing focus on local production. Economic fluctuations, global trade policies, and consumer behavior shifts will also impact enterprise growth. Monitoring these factors will be critical for understanding the high growth enterprises' landscape in the coming years.
Top countries in Number of High Growth Enterprises in Wearing Apparel by Country
| # | 8 Countries | Units (Enterprises) | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 457 | 2023 | +10.65% | -1.26% | View data |
| 2 | 2 Portugal | 164 | 2023 | -8.38% | -10.62% | View data |
| 3 | 3 Hungary | 95 | 2023 | +13.1% | +5.12% | View data |
| 4 | 4 Czech Republic | 45 | 2023 | -2.17% | -3.22% | View data |
| 5 | 5 Lithuania | 39 | 2023 | 0% | -6.98% | View data |
| 6 | 6 Slovakia | 17 | 2023 | -5.56% | -10.13% | View data |
| 7 | 7 Latvia | 9 | 2023 | -40% | -25.42% | View data |
| 8 | 8 Norway | 3 | 2023 | +50% | +8.45% | View data |
