The hosiery made of cotton market in Belgium has experienced significant fluctuations over the past decade. Starting from a high of $289.89 million in 2012, the market value increased slightly until 2013, then saw a major decline from 2014 onwards, with a few minor upticks, ultimately reaching $227.67 million in 2022. This represents a significant downturn, especially notable after the consistent year-on-year declines from 2016 to 2022, with the last five years showing an average annual decrease (CAGR) of approximately -0.93%.
Future trends to watch for include the impact of sustainability practices and consumer preferences for eco-friendly products. Advances in textile technology and shifts towards online retailing could also significantly influence market dynamics. Potential changes in global cotton prices and trade policies may further affect market trends in the near future.
- Year 2012: saw a slight growth of 4.15%.- Year 2013: continued to rise by 3.98%.- Year 2014: market value dropped sharply by -9.74%.- Year 2015: declined by -1.99%, with a 5-year CAGR of -0.79%.- Year 2016: further decrease by -2.03%, 5-year CAGR -1.26%.- Year 2017: significant fall of -8.7%, 5-year CAGR -3.83%.- Year 2018: slight recovery with a 0.74% increase, 5-year CAGR -4.44%.- Year 2019: small decline of -1.16%, 5-year CAGR -2.69%.- Year 2020: continued to drop by -1.4%, 5-year CAGR -2.57%.- Year 2021: saw a minor decrease of -1.39%, 5-year CAGR -2.44%.- Year 2022: experienced a decline of -1.39%, resulting in a 5-year CAGR of -0.93%.