From 2013 to 2023, the value added of the clothing industry in Germany exhibited fluctuating trends with both upward and downward movements. Notably, the peak was observed in 2014 with a significant year-on-year increase of 13.01%, while subsequent years showed a series of declines and slight increases. By 2023, the value stood at 2.28 billion euros, with a year-on-year drop of 1%. The compounded annual growth rate (CAGR) over the period from 2019 to 2023 was -1.38%, indicating an overall downward trend.
Looking ahead, from 2024 to 2028, the forecast suggests a continued downward trajectory with an expected 5-year CAGR of -0.88%. The industry value is projected to reach 2.16 billion euros by 2028, representing a total decline of 4.34% over the forecasted period.
Future trends to watch for:
- Sustainability-focused innovation and its market adoption.
- Impact of digital transformation on supply chains and production.
- Consumer behavior shifts towards fast fashion versus sustainable fashion.
- Global economic factors and their influence on the German clothing market.
