Germany's underwear market turnover has been on a declining trend over the past decade. Starting at 1.15 billion euros in 2013, the market showed a steady decrease, more pronounced from 2017 onwards. By 2023, the turnover stood at 0.8635 billion euros, reflecting a continuous downturn.
The year-on-year variation reveals significant drops, particularly in 2018 (-18.25%) and 2020 (-23.65%), with moderate recovery attempts in 2019 (11.19%) and slight upticks in 2022 (4.58%) and 2023 (1.58%). The compound annual growth rate (CAGR) over the past five years (up to 2023) was -0.35%. The forecasted CAGR for 2024-2028 indicates a further decline of 2.62% annually, predicting a continued downward trajectory with the market reaching approximately 0.7317 billion euros by 2028.
Future trends to watch:
- Changing consumer preferences towards sustainable and premium segments
- Economic factors affecting disposable income
- Impact of technological advancements in the textile industry
- Potential growth in online retail channels
