Over the past decade, the market for tracksuits, ski suits, swimwear, and other knitted or crocheted textiles in Croatia has experienced fluctuating growth, peaking in 2016 with a value of 15.327 million. Since 2020, the market has seen a consistent decline, reaching a low of 9.528 million in 2023. Notably, the compound annual growth rate (CAGR) over the last five years is -9.19%, emphasizing a significant downturn. The year-on-year decline accelerated from 2020 to 2023, with noticeable percentages of -8.83%, -9.68%, -10.63%, and -11.77% respectively.
Future trends to watch include:
- Changing consumer preferences toward more sustainable and multifunctional garments.
- The potential impact of technological innovations in textile production.
- The growth of online retail channels influencing market dynamics.
- Potential recovery influenced by rising tourism and sporting events within Croatia.