In 2023, the wages and salaries for knitted and crocheted apparel in France were at a significantly higher level than projected figures for future years. The forecast indicates a consistent decline from 2024 to 2028, with values decreasing from 147.9 million euros in 2024 to 131.5 million euros in 2028. This reflects a year-on-year decrease averaging about 2.9% over the forecast period. The compound annual growth rate (CAGR) for these five years suggests a downward trend, highlighting possible challenges in the market or shifts in industry demands or operations.
Future trends to watch for include:
- The impact of technological advancements on labor costs in the apparel industry.
- Potential changes in trade policies affecting imports and exports of knitted and crocheted goods.
- Shifts in consumer preferences towards sustainable and locally-made products, which could influence local manufacturing sectors.
- The evolving landscape of fast fashion and its impact on traditional apparel sectors.