From 2013 to 2018, the wages and salaries in the French underwear industry experienced significant fluctuations. Particularly, 2017 and 2018 saw substantial increases with year-on-year growth rates of 28.93% and 53.1%, respectively. However, this trend did not continue, as 2019 marked a downturn with a -35.78% reduction. The years 2020 to 2023 showed moderate changes with minor fluctuations, indicating a stabilization of values around 231.1 to 290.5 million Euros in 2023. The compound annual growth rate (CAGR) from 2018 to 2023 stood at approximately -6.22%, reflecting a slight overall decline.
The forecast between 2024 and 2028 shows a relatively steady increase, with annual growth rates ranging from 1.7% to 1.5%. The average annual growth rate (CAGR) is projected at 1.25%, indicating a slow but consistent rise. By 2028, the underwear wages and salaries are anticipated to reach around 314.2 million Euros.
Future Trends to Watch:
- Digitalization and automation influencing salary dynamics, potentially increasing efficiency and altering wage structures.
- Shifts in consumer preferences toward sustainable and eco-friendly products, requiring new skills and potentially impacting wages.
- Economic factors such as inflation and labor market conditions, which could affect overall salary trends in the industry.
- Global supply chain disruptions or improvements, which could either constrain or bolster the sector’s financial health.
