The market for pullovers and cardigans made of cotton in Namibia showed a declining trend from 2013 to 2023. The market size value in 2023 stood at 1.8036 million US dollars, marking an overall decline in demand over the decade. Initially rising in 2014, the subsequent years saw a consistent annual decrease ranging from 0.27% to 0.36%. Over the past two years, the market shrank further by 0.34% annually. The five-year compound annual growth rate (CAGR) indicates a contraction of -0.35% per year, reflecting persistently decreasing demand.
Future trends to watch for include:
- Changing consumer preferences towards sustainable and ethical fashion.
- Potential growth opportunities from increasing awareness of environmental impacts.
- Evolving retail landscapes and e-commerce adoption in Namibia.
