The Wearing Apparel sector in Germany experienced fluctuating trends in production from 2013 to 2023, with 2023 witnessing a production level of 5.83 billion euros. The sector has faced a significant decline since its peak in 2014. Over the past two years (2022-2023), the year-on-year variations show a slight decline of 0.4% in 2023 following a modest growth of 1.5% in 2022. The Compound Annual Growth Rate (CAGR) for the last five years (2018-2023) stands at -3.36%, indicating a consistent downward trend.
Looking ahead, forecasts from 2024 to 2028 predict a continuation of this decline. By 2028, the production is expected to drop to 4.79 billion euros, with a forecasted 5-year CAGR of -3.14% and an overall decrease of 14.73% from the 2023 level. Key future trends to watch for include potential impacts of sustainability initiatives, shifts in consumer preferences towards fast fashion or luxury segments, and the effects of digital transformation on production efficiencies and supply chain management.
