The market for men's and boys' cotton shirts in Singapore witnessed variable fluctuations over the past decade. Following a high growth phase in early years, the market faced a downward trend post-2014, marked by a steep decline in 2015 (-13.38%). Despite a brief recovery in 2017, the market continued to mostly decrease in subsequent years. By 2020, the market value was slightly stable, but thereafter showed minor declines up to 2022. The last CAGR of -3.44% from 2018 to 2022 highlights a generally negative average annual growth, indicating a contracting market. In 2023, the market value stood at 48.6 million USD. From 2024, trends are forecasted.
Future Trends to Watch For:
- Adoption of sustainable and eco-friendly fabrics.
- Increasing e-commerce penetration.
- Potential shifts due to economic recovery post-pandemic.
- Evolving consumer preferences towards casual and comfortable attire.
