In Lithuania, the Gimped Yarn and Gimped Strip market has shown a declining trend over the past decade. By 2023, the market's size stood at 1.4073 million Euros. Despite minor recoveries, the overall tendency has been a reduction in value, particularly noticeable from 2021 to 2023, with year-on-year declines of 14.05% and subsequently around 3% each year. Over the recent five-year period, the compound annual growth rate (CAGR) was -1.77%.
Future trends to watch include an emphasis on innovation and diversification within domestic production to counteract import reliance. Monitoring changes in consumer demand and economic indicators in the EU will also be crucial.
