The market size value per capita in Sri Lanka for pullovers and cardigans made of synthetic fibres showed a decreasing trend from 2013 to 2020, bottoming out at $2.64 in 2020. However, there was a resurgence from 2021 to 2023, with the value stabilizing at $3.19. Despite the earlier decline, recent stability may signal market resilience.
Year-on-year variations over the last two years indicate a stabilization in demand, with no significant change from 2022 to 2023. The five-year compound annual growth rate (CAGR) reflects a modest average growth annually, showcasing a more complex market environment influenced by fluctuating consumer preferences and external factors.
Future trends to watch for include rising sustainability concerns and material innovation, which could impact consumer choices and market dynamics. Additionally, economic conditions and shifts in fashion trends in Sri Lanka may further influence demand in this segment.
