Based on actual data, the wearing apparel manufacturing output in Canada stood at 3.45 billion Canadian dollars in 2023. The forecasted output for the years 2024 to 2028 shows a gradual increase from 3.48 billion to 3.54 billion Canadian dollars in 2028. The year-on-year variation percentages are as follows: 2024 to 2025 is 0.57%, 2025 to 2026 is 0.29%, 2026 to 2027 is 0.57%, and from 2027 to 2028 is 0.28%. The compound annual growth rate (CAGR) over this five-year period is approximately 0.5%.
Future trends to watch for include:
- Technological advancements in manufacturing processes.
- Changes in consumer preferences toward sustainability and ethical production.
- Impact of international trade policies and agreements.
- Economic conditions and disposable income levels in Canada.
- Adoption rate of fast fashion versus slow fashion trends.
