In Belgium, the market for men's and boys' underpants made of cotton has shown slight fluctuations over recent years. The market was valued at 140.19 million USD in 2023. Analyzing trends from 2013 to 2023, we observe varying year-on-year changes, peaking in 2014 with a 5.06% rise and experiencing the largest drop in 2016 with a 6.26% decline. Over the past five years (2018-2023), the market stabilized with a compound annual growth rate (CAGR) of approximately 0.037%.
Looking forward, the market is forecasted to experience a consistent yet modest growth rate with a forecasted 5-year CAGR of about 0.05% and an overall growth rate of 0.24% by 2028. Future trends to watch for include potential impacts of sustainability trends on material sourcing, increasing consumer preference for premium and durable products, and potential shifts towards online purchasing behaviors.
Key points:
- Market value in 2023: 140.19 million USD
- Largest year-on-year growth: 5.06% in 2014
- Largest decline: 6.26% in 2016
- Recent stabilization with a CAGR of 0.037% (2018-2023)
- Forecasted growth: 0.05% CAGR and 0.24% overall by 2028
