From 2013 to 2023, the underwear production value in Italy exhibited a clear declining trend. The value started at 1.65 billion Euros in 2013 and progressively decreased, reaching 0.8266 billion Euros in 2023. Key turning points included a significant drop of 18.18% in 2018 and a further decline of 19.62% in 2020. By 2023, the year-on-year decrease was 9.39%, showing a continued downward trajectory.
In the last two years, the production value saw a more pronounced contraction: -5.8% in 2022 and -9.39% in 2023. Over the past five years, the Compound Annual Growth Rate (CAGR) was -11.48%, indicating an average annual decline of about 11.48%.
Forecasts from 2024 to 2028 suggest a continuation of this trend, with an overall projected reduction of 67.38% by 2028, and a forecasted five-year CAGR of -20.07%. The value is expected to reach 0.2299 billion Euros by 2028, reflecting a significant industry contraction.
Future trends to watch for include changes in consumer preferences towards sustainable and eco-friendly products, potential impacts of economic recovery post-pandemic, and technological advancements in production efficiency.
