From 2013 to 2023, the per capita market size value for men's and boys' shirts made of materials other than cotton, wool, or synthetic fibers in Cyprus showed a decline. It started at $0.66 in 2013 and gradually decreased to $0.42 in 2023. The year 2015 marked a sharp decrease, followed by slight fluctuations, but the overall trajectory remained a downward trend. Over the last two years, the value declined by 4.3% in 2022 and 4.5% in 2023. The compound annual growth rate (CAGR) over the last five years indicates a 3.6% average annual decrease.
Looking ahead, potential future trends include a growing consumer preference for sustainable and innovative materials, which may result in an increased focus on eco-friendly designs. Monitoring shifts in fashion trends and consumer behavior, along with potential economic factors, will be important for market players.
