In 2023, Italy led the European sold production of ties, bow ties, and cravats, not made from silk, with a significant share of 63.06%. The United Kingdom followed with 34.74%. Spain, Bulgaria, Romania, Estonia, and Serbia maintained minor roles in production. Italy experienced a notable decline of 19.71% from the previous year, whereas the UK saw a smaller decrease of 4.95%. Spain decreased by 11.28%, while Bulgaria, Romania, and Serbia witnessed minor reductions. In contrast, Estonia marked a positive growth of 19.0%. This data suggests a contraction in most markets, with Estonia the only outlier exhibiting growth.
Future trends to watch include:
- Potential recovery of Italy and the United Kingdom's production levels.
- Continued monitoring of Estonia’s growth trajectory, potentially signaling market opportunities or shifts.
- Exploration of product and material diversification to rejuvenate smaller markets like Spain and Bulgaria.
- Evaluation of economic factors impacting overall demand in the European market.
Top countries in Sold Production of Ties, Bow Ties and Cravats Other Than of Silk or Silk Waste Share by Country (Units (Items))
| # | 7 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 63.06 | 2023 | +24.13% | -19.71% | View data |
| 2 | 2 United Kingdom | 34.74 | 2023 | -7.76% | -4.95% | View data |
| 3 | 3 Spain | 0.81 | 2023 | -18.83% | -11.28% | View data |
| 4 | 4 Bulgaria | 0.28 | 2023 | +1.99% | -2.53% | View data |
| 5 | 5 Romania | 0.17 | 2023 | -2.67% | -6.18% | View data |
| 6 | 6 Estonia | 0.14 | 2023 | +53.2% | +19% | View data |
| 7 | 7 Serbia | 0.014 | 2023 | +4.41% | -0.092% | View data |
