The underwear market in Austria experienced a general decline from 2013 to 2023. The value stood at 105.0 million euros in 2023, showing a significant drop from 259.1 million euros in 2013. Starting with minor year-on-year decreases, a drastic fall occurred in 2017, followed by a substantial drop in 2020. Recovery was slow, with a peak in growth observed in 2021. However, the upward trend did not sustain, leading to a negative growth again in 2023 with a year-on-year drop of 0.66%. The last 5-year CAGR up to 2023 was -8.33%, highlighting the persistent decline.
Key year-on-year variations:
- 2022 to 2023: -0.66%
- 2021 to 2022: 9.99%
CAGR analysis over the last five years (2018-2023): -8.33%
Forecasted data from 2024 to 2028 indicate a continued downturn, with the market value expected to decline to 46.7 million euros in 2028. The forecasted 5-year CAGR is -12.59%, showing an acceleration in the decline rate. Overall, the market is projected to shrink by 48.96% over the next five years.
Future trends to watch for include shifts in consumer preferences, potential economic recovery, innovations in product offerings, and sustainability trends that could influence market dynamics.
