The Women and Girl Blouses and Shirts Made of Cotton market size value per capita in Singapore has shown a consistent decline from $6.61 in 2013 to $2.72 in 2023. This market experienced a steep decline in the early years, followed by a gradual decrease from 2017 to 2023. Analysis of the year-on-year percentage variations over the past two years shows that the market decreased by 6.69% from 2021 to 2022, and 6.85% from 2022 to 2023. The compounded annual growth rate (CAGR) over the last five years is approximately -8.24%.
Looking ahead, factors like the rise in e-commerce, sustainable fashion trends, and potential changes in consumer preferences should be watched. Adapting to these shifts could prevent further decline and possibly stabilize the market. Additionally, the influence of economic recovery post-pandemic and increased focus on eco-friendly and durable clothing options may create new opportunities within the sector. The ability of retail businesses to pivot towards these consumer trends will be critical in determining the future landscape of this market in Singapore.
