The Norwegian market for clothing and accessories of furskin has shown a declining trend from 2013 to 2023, with a value per capita decreasing from $5.09 in 2013 to $2.14 in 2023. The sharpest decline was observed between 2014 and 2015, followed by a steady decrease each subsequent year. Year-on-year analysis shows average variations of about -7% over the last two years. The five-year compound annual growth rate (CAGR) from 2018 to 2023 indicates an average annual decline of approximately -8.3%.
Future trends to watch for in this market include:
- Growing focus on ethical and sustainable alternatives to furskin clothing.
- Potential impact of regulatory changes on traditional furskin industry.
- Increased consumer preference for synthetic and plant-based materials.
- Innovation and trends in fashion influencing the demand for furskin products.
