The knitted or crocheted pile fabric market in the Philippines showed a declining trend from 2012 to 2016, with the market size decreasing from $71.758 million in 2012 to $39.324 million in 2016. This period was marked by a significant decline including a notable drop in 2013 of 21.19% and 18.81% in 2016. From 2017 onwards, the market demonstrated fluctuating recovery, peaking briefly in 2018 at $44.756 million but facing another decline in 2020 due to a -21.31% year-on-year variation, likely impacted by the COVID-19 pandemic. A slight recovery was observed in 2021 with a 16.35% increase, yet the market slightly decreased again in 2022 to $39.01 million.
Future trends to watch for:
- Potential market rebound post-pandemic, relying on economic recovery and increased demand.
- Innovations in fabric technology and sustainable production practices influencing market growth.
- Shifts in consumer preferences towards eco-friendly and versatile textiles may drive the market.
| # | 19 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Brazil | 1,021,400,000 | 2023 | +4.22% | +3.63% | View data |
| 2 | 2 Colombia | 266,760,000 | 2023 | +4.01% | +4% | View data |
| 3 | 3 Spain | 144,580,000 | 2023 | +1.22% | -1.03% | View data |
| 4 | 4 Germany | 117,890,000 | 2023 | -6.44% | -5.29% | View data |
| 5 | 5 United Kingdom | 117,420,000 | 2023 | -1.49% | +0.34% | View data |
| 10 | 10 Thailand | 67,278,000 | 2023 | -0.56% | -0.089% | View data |
| 11 | 11 Canada | 59,353,000 | 2023 | -3.51% | -3.83% | View data |
| 12 | 12 Philippines | 37,633,000 | 2023 | -3.53% | -3.41% | |
| 13 | 13 Guatemala | 33,741,000 | 2023 | +2.15% | +2.24% | View data |
| 14 | 14 Greece | 28,097,000 | 2023 | +1.58% | +1.59% | View data |
