In Portugal, the market for hats manufactured from felt, plaited or textile materials experienced fluctuations over the past decade. While the market size witnessed a steady increase from 2013 to 2018, a decline appeared in 2019, further impacted in 2020 due to macroeconomic challenges. A rebound occurred in 2021 with substantial growth, leading to stability in 2022 and 2023, with the market value standing at 18.551 Million Euros in 2023. The CAGR over the past five years reveals a minor downturn of -1.66%, indicating a slight overall contraction.
Future trends to watch for in the Portuguese hat market include:
- Increased demand for sustainable and eco-friendly materials could reshape production methods.
- Fashion trends driving preference for custom or bespoke hats.
- Digital marketing strategies enhancing brand reach and consumer engagement.
- The impact of economic recovery on consumer spending power post-2024.
| # | 11 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 294,580,000 | 2023 | +1.87% | +2.41% | View data |
| 2 | 2 France | 232,280,000 | 2023 | +1.45% | +1.55% | View data |
| 3 | 3 Germany | 201,220,000 | 2023 | +0.072% | +0.41% | View data |
| 4 | 4 Spain | 125,330,000 | 2023 | +1.98% | +1.26% | View data |
| 5 | 5 Sweden | 65,427,000 | 2023 | +5.45% | +0.85% | View data |
| 9 | 9 Ireland | 31,377,000 | 2023 | +4.06% | +2.13% | View data |
| 10 | 10 Greece | 20,720,000 | 2023 | +1.43% | +1.92% | View data |
| 11 | 11 Portugal | 18,551,000 | 2023 | +0.061% | -1.66% | |
