The market size value per capita for men's or boys' suits and ensembles of textile fabrics not knitted or crocheted in Belgium has experienced a declining trend from 2013 to 2023, starting from €2.57 and ending at €1.50. The year-on-year variation indicates a continuous decrease, with the most significant drop occurring between 2019 and 2020. In the last two years, the market slightly improved in 2021, but then continued its downward trend. Over the past 5 years, the market's compound annual growth rate (CAGR) reflects a negative average yearly change, indicating a declining industry.
Future trends to watch for include potential developments in sustainable fashion, changing consumer preferences towards casual attire, and the impact of economic factors on discretionary spending in Belgium. Innovations in e-commerce could also influence market dynamics in the coming years.
