The baby garments and accessories made of cotton market in Belgium experienced significant fluctuations from 2013 to 2023. The market value in 2023 stood at 133.91 million USD. Over this period, the market saw a peak of 188.29 million USD in 2014, followed by a sharp decline in 2015. Notably, the market value experienced a considerable drop in 2020, likely influenced by the COVID-19 pandemic, but saw a subsequent recovery with an 18.24% increase in 2021. However, the market continued a downward trend, declining by 1.86% year-on-year in both 2022 and 2023. The Compound Annual Growth Rate (CAGR) over the last five years was -2.16%.
Looking ahead, the market is expected to continue its downward trajectory, with forecasted data indicating a decrease to 120.68 million USD by 2028. The forecasted CAGR for the next five years is -1.65%, translating to an overall forecasted growth rate of -7.96% by 2028.
Future trends to watch for include:
- Economic recovery and changes in consumer behavior post-pandemic.
- Sustainable and eco-friendly product innovations.
- Impact of demographic changes and birth rates in Belgium.
- Influence of global supply chain dynamics and raw material costs.
