The Latvian market for knitted or crocheted shawls, scarves, mufflers, mantillas, and veils reached a size of 1.1887 million euros in 2023, as measured in value. The market displayed significant fluctuation over the last decade, with a notable downturn in 2020 followed by a robust recovery in subsequent years. The past two years experienced modest growth: 1.85% in 2022 and 1.78% in 2023. The compound annual growth rate for the last five years stands at 0.72%, indicating a gradual post-pandemic recovery.
Future trends to watch include:
- Potential for innovation in sustainable materials.
- Increasing consumer demand for high-quality, artisanal products.
- Impact of global fashion trends on local markets.
- Economic factors influencing consumer spending in Latvia.
| # | 12 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 67,437,000 | 2023 | -0.35% | -1.47% | View data |
| 2 | 2 Germany | 59,522,000 | 2023 | -10.44% | -7.1% | View data |
| 3 | 3 Spain | 40,430,000 | 2023 | -1.26% | -1% | View data |
| 4 | 4 France | 36,083,000 | 2023 | -7.26% | -8.09% | View data |
| 5 | 5 Ireland | 9,822,300 | 2023 | +5.31% | +3.15% | View data |
| 10 | 10 Slovenia | 2,003,600 | 2023 | +1.08% | +1.03% | View data |
| 11 | 11 Estonia | 1,199,100 | 2023 | -1.56% | -1.25% | View data |
| 12 | 12 Latvia | 1,188,700 | 2023 | +1.78% | +0.72% | |
