The market for men's and boys' shirts in Cyprus, made from materials other than cotton, wool, or synthetic fibers, experienced significant fluctuations from 2013 to 2023. In 2023, the market stood at 517.8 thousand US dollars. Over the last two years, the market witnessed a negative year-on-year change of 3.24% in 2022 and 3.28% in 2023. Over the past 5 years, the compound annual growth rate was a decline of 3.2%.
Future trends to watch for include:
- A potential shift towards more sustainable and eco-friendly materials that could help stabilize or grow the market.
- The influence of fashion trends that could introduce new material preferences.
- Economic factors such as disposable income changes and inflation rates that may affect spending on apparel.
- Technological advancements in textile production which might introduce innovative materials into the market.
