In 2023, the number of self-employed people in the textiles, wearing apparel, and leather products manufacturing sector in Canada was approximately 2.6 thousand. The forecasted decline from 2024 to 2028 exhibits a steady downward trajectory, with year-on-year decreases of 9.1% by 2025, 9.5% by 2026, 11% by 2027, and 12.4% by 2028. These reductions represent a compound annual growth rate (CAGR) of -10.3% over five years.
Future trends to watch for include:
- The shift towards sustainable and ethical fashion could reshape market dynamics, potentially impacting business opportunities for self-employed individuals.
- Technological advancements such as AI and automation in manufacturing could streamline production processes but may also reduce the need for self-employed labor in this sector.
- Changes in consumer preferences towards rapid fashion cycles could drive demand for faster, more adaptable production methods.