Over the decade from 2013 to 2023, the market size value per capita for shawls, scarves, and veils in Latvia has shown fluctuations. Starting at $1.18 in 2013, the value dipped slightly before peaking at $1.29 in 2018, followed by a decline to $1.04 in 2020. However, the value has stabilized around $1.26 from 2021 to 2023, with a slight increase to $1.27 in 2023. From 2022 to 2023, the market grew by 0.79%, while the compound annual growth rate (CAGR) from 2019 to 2023 was 0.16%.
Future trends to watch for include:
- Consumer preferences towards sustainable and ethically-sourced materials.
- Impact of fashion trends on product variety and demand.
- Potential growth from increased tourism and online retail expansion.
