Market Insights Consumer Apparel Men's Apparel

Shirts - Luxembourg

Luxembourg

in Luxembourg, a country known for its prosperous economy, is not exempt from the global market trends.
In 2024, the revenue in the Shirts market withLuxembourg amounted to US$37.08m.
Looking ahead, it is projected that this market will experience an annual growth rate of -0.97% from 2024 to 2029 (CAGR 2024-2029).
When comparing Luxembourg's revenue to the global landscape, it becomes evident that in the United States leads the pack with an impressive revenue of US$16,440m in 2024.
However, when considering the per-person revenue in Luxembourg's Shirts market, the figure stands at US$56.05 in 2024.
Considering the volume of the Shirts market, it is predicted to reach 0.6m pieces by 2029.
Interestingly, there is a slight volume decrease of -0.8% expected in 2025.
When examining the average volume per person within the Shirts market, it is estimated to be 0.9pieces in 2024.
These numbers highlight the significance of the Shirts market withLuxembourg and its potential for growth in the coming years.
Luxembourg's affluent population drives the demand for luxury shirts, with a preference for high-quality materials and sophisticated designs.

Key regions: Philippines, Singapore, India, China, United States

Market

Region

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Currency

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on the consumer spending on clothing which comprises women, men, and children segments that are produced for private end customers for both offline retail (department stores, traditional specialist shops) and online retail (e-commerce, ordering by catalog).

Modeling approach / Market size:

Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use resources from the Statista platform, national statistics, industry research, market data from independent databases and third-party sources, historical developments, current trends, reported performance indicators from the key market players, and Statista interviews with market experts. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, consumer price index and population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the exponential trend smoothing illustrates suited forecasting for the Apparel market with projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional Notes :

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.