The market for pullovers and cardigans made of synthetic fibers in Sri Lanka has seen fluctuating trends from 2013 to 2023. In 2023, the market size stands at 69.74 million USD, marking a slight year-on-year growth of 0.52% from the previous year. The market experienced a significant dip in 2020 but rebounded quickly in 2021 with a 21.14% increase. Over the last five years, the compound annual growth rate (CAGR) stabilized at 0.55%, indicating moderate recovery and consistent growth after initial volatility.
Future trends to watch for:
- Increasing demand for environmentally friendly synthetic fibers.
- Influence of global fashion trends on local markets.
- Potential economic influences and consumer spending behaviors in Sri Lanka.
