The underwear market size volume in Belgium has exhibited fluctuations over the past decade. In 2013, the market size stood at 200.9 million units and saw a slight decline until 2016, followed by a significant increase in 2018 to 219.82 million units. Post-2018, the market faced a downward trend, reaching a low of 187.03 million units in 2021. However, by 2022, it rebounded to 200.99 million units. In 2023, it slightly increased to 201.14 million units.
The year-on-year variation indicates substantial changes, with significant growth in 2018 (12.22%) and noteworthy declines in 2020 (-5.89%) and 2021 (-6.25%). Recently, the year-on-year variation in 2022 was 7.47%, stabilizing at a marginal increase of 0.074% in 2023. The last 5-year CAGR (Compound Annual Growth Rate) was -1.76%, reflecting overall market stagnation or slight decline.
Looking ahead, forecasted values suggest a stable yet modest growth trajectory, with a forecasted five-year CAGR of 0.06% from 2024 to 2028 and a total growth rate of 0.28%. The market is projected to reach 201.86 million units by 2028.
Future trends to watch for include the increasing influence of sustainable and ethical consumer behavior, innovations in fabric technology, and the potential impact of economic shifts on discretionary spending. These factors could significantly shape market dynamics in the coming years.
