The value added of textiles and wearing apparel in Germany stood at 6.7 billion Euros in 2023. Over the past two years, the industry experienced a modest decline, with a year-on-year variation of -0.18% in 2023 and -0.19% in 2022. From 2018 to 2023, the compound annual growth rate (CAGR) was -0.69%, indicating a slight downturn.
Looking ahead, forecasts suggest a continued marginal decline in the value added of textiles and wearing apparel through 2028, with a five-year CAGR of -0.14% and an overall growth rate of -0.7%.
Future trends to watch:
- Technological advancements in textile production
- Shifting consumer preferences toward sustainable and eco-friendly products
- Impact of global trade policies on the German textile industry
- Potential market consolidation among textile and apparel manufacturers
