In 2023, the market size for Men's or Boys' Underpants and Briefs of Knitted or Crocheted Textiles in Belgium stood at 18.717 million. Over the period from 2013 to 2023, the market experienced fluctuations with notable growth periods in 2014 and 2016, but faced significant downturn in 2019, where a -16.65% year-on-year variation was observed. Recently, from 2021 to 2023, there were modest year-on-year increases of 1.91%, 2.75%, and 2.57%, respectively. Over the past five years, the compound annual growth rate (CAGR) was negative, indicating a generally stagnant market since 2018.
- The market saw an upward trend in 2023, sustained by a post-pandemic recovery in consumer spending.
- Future trends to watch include the impact of sustainable fashion, altering consumer preferences for eco-friendly materials, and potential digital sales growth in e-commerce for apparel.
- Understanding demographic changes and fashion trends will be crucial for anticipating shifts in demand.
- Economic fluctuations and increasing raw material costs might influence pricing strategies and market dynamics.
