The employment numbers in the German underwear industry have shown a consistent downward trend over the past decade, decreasing from 7.43 thousand employees in 2013 to an actual 4.42 thousand employees in 2023, representing a significant decline of approximately 40.51%. The year-on-year variation indicates a continuing decline, with notable drops in recent years, such as a -13.36% drop in 2018 and a -7.72% drop in 2020. For 2023, the industry saw a reduction of -6.06% in employment compared to 2022.
The Compound Annual Growth Rate (CAGR) over the last five years (2019-2023) was -4.97%, indicating a steady and significant annual decrease. Forecast data from 2024 onwards suggest that this downward trend will persist, with projected employment reaching 3.05 thousand by 2028, yielding a forecasted 5-year CAGR of -5.94%, which implies a further reduction of 26.36% over the forecast period.
Future trends to watch for include advancements in automation and technological efficiencies, which could further impact employment. Additionally, shifts in consumer behavior towards sustainable and high-quality underwear brands might also dictate future market dynamics and employment prospects.
