The knitted and crocheted apparel sector in the UK is set to experience a significant decline in turnover from 2024 to 2028, with a sharp year-on-year drop. In the period from 2023 to 2024, the turnover is forecasted to reach £104.11 million in 2024, descending to £30.95 million by 2028. This represents average annual compounded growth rate (CAGR) of approximately -25.03% over five years, showcasing a substantial contraction in the market size.

Future Trends to Watch for:

Changing consumer preferences towards sustainable and eco-friendly products might impact demand.
Innovation in materials could revitalize interest in knitted and crocheted apparel.
Supply chain challenges and rising costs could further influence market dynamics.