The UK underwear market has shown a declining trend from 2013 to 2023, with turnover valued at 65.4 million Euros in 2023. From 2013 to 2023, the market saw significant decreases, with substantial year-on-year drops particularly notable in 2014 (-40.98%) and 2020 (-23.78%). Slight recoveries occurred in 2015 (12.25%) and 2021 (10.04%), but these were not enough to reverse the overall downward trajectory. The five-year CAGR up to 2023 indicates an average annual decline of 8.2%.
Future trends forecast a continued decline through 2028, with a forecasted five-year CAGR of -13.82%, resulting in a projected turnover of 27.28 million Euros in 2028. This represents a continued and significant contraction of the market over the coming years.
Future trends to watch for include:
- Changing consumer preferences and increased competition from non-traditional and online retailers.
- Economic factors impacting discretionary spending.
- Possible consolidation in the market as companies look to maintain profitability.
