The production of textiles and wearing apparel in Sweden has seen a general upward trend from 2013 to 2023, with 2023 showing a value of 12.28 billion Swedish Kronas. The industry experienced fluctuations in growth rates, notably a significant dip in 2020 due to the global pandemic. However, recovery was strong in 2021 with a 21.65% increase, followed by more modest growth in subsequent years. The average annual growth rate (CAGR) over the past five years has been 1.28%.
Forecasts indicate a continued but modest growth trajectory from 2024 to 2028, with the five-year CAGR estimated at 0.74%, reaching a value of 12.87 billion Swedish Kronas by 2028, representing a total growth rate of 3.74% over the period.
Future trends to watch for include:
- The impact of sustainability initiatives and eco-friendly production processes on growth and value.
- Technological advancements in textile manufacturing and their effect on productivity and costs.
- Changing consumer preferences and the global demand for Swedish apparel.
