From 2013 to 2023, Hungary's market for knitted or crocheted fabrics consistently declined, with the market size shrinking from 78.962 million euros to 55.508 million euros, a clear downward trend over the decade. As of 2023, the market value stood at 55.508 million euros. Year-on-year variations were mainly negative, with the largest drop in 2014 at -9.88%, and a smaller decline in the recent years. Over the last five years, the CAGR was approximately -2.52%, emphasizing the consistent annual market contraction.
Future trends to watch include:
- Potential technological advancements in fabric production which could alter industry dynamics.
- Shifting consumer preferences towards sustainable materials impacting demand for traditional knitted or crocheted fabrics.
- Economic factors or regulatory changes within the textile industry that could influence market growth or further declines.
How does Hungary rank in Knitted or Crocheted Fabrics Market Size Value?
| # | 10 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Portugal | 545,060,000 | 2023 | +1.99% | +0.71% | View data |
| 2 | 2 United Kingdom | 305,730,000 | 2023 | -0.16% | +0.2% | View data |
| 3 | 3 Poland | 272,530,000 | 2023 | +1.44% | +1.49% | View data |
| 4 | 4 Bulgaria | 222,530,000 | 2023 | +0.081% | +1% | View data |
| 5 | 5 Romania | 218,950,000 | 2023 | -1.95% | -1.6% | View data |
| 6 | 6 Spain | 65,483,000 | 2023 | -2.64% | -0.95% | View data |
| 7 | 7 Hungary | 55,508,000 | 2023 | -3.14% | -2.52% | |
| 8 | 8 Lithuania | 40,572,000 | 2023 | -1.68% | -1.44% | View data |
| 9 | 9 Croatia | 34,625,000 | 2023 | -13.49% | -9.41% | View data |
