The Knitted or Crocheted Pile Fabric Market in the Philippines has shown a gradual decline in per capita value from $0.57 in 2013 to $0.33 in 2023. The market reached its lowest point during 2020 at $0.32, reflecting an 11.1% decrease compared to 2019, likely impacted by the global pandemic. Between 2022 and 2023, the market slightly decreased by 2.9%. Over the past five years, the Compound Annual Growth Rate (CAGR) highlighted a yearly average decline, indicating ongoing challenges.
Future trends to watch include increased demand for sustainable materials and innovations in fabric technology, which may stimulate market growth. Focusing on eco-friendly products and digital marketing could open new opportunities for market expansion.
| # | 19 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Sri Lanka | 4.82 | 2023 | View data | ||
| 2 | 2 Lithuania | 4.8 | 2023 | View data | ||
| 3 | 3 Colombia | 4.73 | 2023 | View data | ||
| 4 | 4 Brazil | 4.35 | 2023 | View data | ||
| 5 | 5 Romania | 3.76 | 2023 | View data | ||
| 17 | 17 Thailand | 0.97 | 2023 | View data | ||
| 18 | 18 Japan | 0.77 | 2023 | View data | ||
| 19 | 19 Philippines | 0.33 | 2023 | |||
