The market size value per capita for pullovers and cardigans made of cotton in Singapore has remained relatively stable from 2013 to 2023, oscillating slightly around the $18 mark, with occasional minor fluctuations such as a low of $17.51 in 2015 and a peak of $18.42 in 2016. The stability suggests a consistent demand and purchasing pattern.
As of 2023, the value stands at $18.13 USD, showing a negligible decline compared to previous years. Over the last two years, there was a minimal decline of about 0.06%. The compound annual growth rate (CAGR) over the past five years is approximately -0.02%, indicating a stagnation in growth.
Looking forward, potential growth drivers may include an increased focus on sustainability and consumer preference for natural fibers, like cotton, due to environmental concerns. However, economic factors and evolving fashion trends could moderate this growth. Monitoring these variables will be crucial in understanding future market directions.
