The wearing apparel sector in Belgium is forecasted to experience a consistent decline in turnover from 2024 to 2028. The turnover stands at 519.6 million Euros in 2024 and is expected to decrease to 452.9 million Euros by 2028. This represents a year-on-year reduction of approximately 3.6% from 2024 to 2025, 3.4% from 2025 to 2026, 3.3% from 2026 to 2027, and 3.2% from 2027 to 2028. The compounded annual growth rate (CAGR) over this period is approximately -3.41%. In 2023, the turnover was 538.2 million Euros, indicating a sharp downward trend from the previous year to 2024.
Future trends to watch for include shifts in consumer preferences towards sustainable and ethical fashion, increased competition from e-commerce platforms, and the potential economic impacts of global events which could further influence spending behaviors in the wearing apparel sector.
