Between 2013 and 2023, China's per capita market size value for men's and boys' cotton shirts saw an overall decline, decreasing from $1.69 to $1.39. The market fluctuated, reaching a peak in 2014 before steadily decreasing with the largest drop occurring between 2016 and 2017. However, the value stabilized around $1.4 from 2021 onward, indicating a plateau over the last years.
Year-on-year variations were relatively moderate: the value decreased by 0.71% in 2022, and by another 0.71% in 2023. The compound annual growth rate (CAGR) from 2018 to 2023 was -0.56%.
Future trends to watch include:
- Potential for growth from the rising middle class and urbanization in China, driving demand for higher-quality apparel.
- Impact of economic policies and consumer confidence on market dynamics.
- Shift towards sustainable fashion trends that might influence consumer preferences.
