The underwear market in the UK, valued at 1.2392 billion in 2023, has experienced a fluctuating trend over the last decade. After some growth between 2013 and 2015, the market saw volatility with a notable dip in 2018 and significant decline in 2020, driven by external factors. The market partially recovered in 2021 but has remained relatively stable since then.
Year-on-year variations:
- 2013: -1.57%
- 2014: 5.92%
- 2015: 5.39%
- 2016: -0.01%
- 2017: -2.9%
- 2018: -14.15%
- 2019: 4.57%
- 2020: -17.49%
- 2021: 19.7%
- 2022: -0.64%
- 2023: -0.63%
The average annual growth rate (CAGR) from 2018 to 2023 was positive at 0.39%. However, the forecasted 5-year CAGR from 2024 to 2028 is -0.54%, indicating a slight contraction in market size to 1.1978 billion by 2028. Future trends to watch for include shifts in consumer preferences towards sustainable and organic materials, innovations in smart textiles, and potential impacts from economic fluctuations and market disruptions. Monitoring these factors may provide new opportunities or further challenges for the market.
