The market size value per capita for women and girl blouses and shirts made of cotton in Barbados showed a declining trend from 2013 to 2023. In 2013, the value stood at USD 1.62 per capita, decreasing steadily to USD 0.77 per capita in 2023. This reflects a downward trajectory, with notable year-on-year decreases, including a 4.9% decrease from 2022 to 2023. Over the past five years, the compound annual growth rate (CAGR) was approximately -2.7%, highlighting a continuous decrease in market value per capita.
Future trends to watch for include:
- Potential shifts in consumer preferences towards sustainable fashion.
- Impacts of global cotton price fluctuations on local market costs.
- Increased competition from synthetic fiber alternatives.
- Possible market stabilization efforts through trade policy changes or economic recovery.