The sold production value of underwear in Spain has experienced significant fluctuations over the past decade. From 2013 to 2023, the market witnessed periods of growth and decline. Notably, there was a sharp drop in 2020 (-26.87%), likely due to the impacts of the COVID-19 pandemic. The years following showed a gradual recovery, but the 2023 value of €865.73 million still indicates a lower market compared to the peak in 2016. Year-on-year variations over the last two years showed modest increases: 29.79% in 2022 and 3.48% in 2023. The Compounded Annual Growth Rate (CAGR) over the past five years stands at -1.11%, indicating a slow decline.
Looking ahead, forecasted data suggest a continued but slight downtrend in the market value, with a forecasted CAGR of -1.74% from 2024 to 2028. By 2028, the market is expected to decline by 8.4% from current levels, reaching approximately €776.29 million.
Future trends to monitor include shifting consumer preferences towards sustainable and comfortable materials, the impact of economic conditions on consumer spending, and the potential for innovations in manufacturing technology to drive production efficiencies and cost reductions.
