From 2013 to 2023, the market for shawls, scarves, and veils in Spain showed a marked decline in value from $193.63 million to $135.78 million. Initially growing nominally, the market faced consistent drops between 2016 and 2020, with the steepest decline in 2020 due to the pandemic. Although a recovery was seen in 2021, subsequent years revealed minor contractions. Notably, from 2018 to 2023, the compound annual growth rate was -3.73%.
Future trends to watch include shifts in fashion trends favoring sustainable and eco-friendly products, potential increases in domestic production, and growing demand from younger and more culturally diverse demographics.
