Between 2013 and 2023, Colombia's market for pullovers and cardigans made of cotton has shown a general decline in value per capita, decreasing from $3.81 to $2.46. This represents a significant reduction, particularly notable in the years leading up to 2016, followed by a more stable, albeit slightly fluctuating trend.
From 2021 to 2023, the market continued to contract, with a year-on-year decline averaging around 1.0% during this period. Over the last five years, the compound annual growth rate (CAGR) was negative, reflecting a consistent decrease in consumer spending in this category.
Looking forward, factors like consumer preferences shifting towards more sustainable materials and potential economic shifts will be key to evaluating future market potential. Monitoring these trends will be crucial for stakeholders aiming to capitalize on any reversal or stabilization in market dynamics.
