The Shawls, Scarves, Veils market in Montenegro has shown a consistent decline over the past decade. In 2023, the market value stood at $0.45 per capita. This represents a 15.1% decrease from 2021 and a 4.3% decline from 2022. The compound annual growth rate (CAGR) over the past five years highlights an average annual reduction of 3.7% since 2018. Although there's significant volatility, the steepest drops were observed during the COVID-19 pandemic, primarily impacting the 2020 value.

Looking ahead, future trends to watch for include:

Consumer preference for sustainable and locally-produced fabrics.
E-commerce growth in fashion accessories, influencing both supply and demand.
Rising tourism potentially altering consumer habits and reintroducing foreign styles.