Jersey Market

The article explores the global market for jerseys, pullovers, and cardigans, highlighting consumption trends, production statistics, major importing countries, major exporting countries, and average prices. The market is projected to see a steady increase in consumption volumes and market values over the next eight years.

Market Forecast

Driven by increasing demand for jerseys, pullovers, cardigans and similar articles worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.7% for the period from 2022 to 2030, which is projected to bring the market volume to 16B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.8% for the period from 2022 to 2030, which is projected to bring the market value to $154.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Jerseys, Pullovers, Cardigans And Similar Articles

In 2022, approx. 14B units of jerseys, pullovers, cardigans and similar articles were consumed worldwide; with an increase of 4.8% against the previous year. The total consumption volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 9.8% against the previous year. Over the period under review, global consumption reached the maximum volume at 15B units in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

The global jersey market value expanded rapidly to $114.5B in 2022, growing by 6.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Global consumption peaked in 2022 and is expected to retain growth in the immediate term.

Consumption By Country

The United States (3.1B units) constituted the country with the largest volume of jersey consumption, accounting for 22% of total volume. Moreover, jersey consumption in the United States exceeded the figures recorded by the second-largest consumer, China (1.4B units), twofold. The third position in this ranking was taken by India (747M units), with a 5.3% share.

In the United States, jersey consumption remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+1.1% per year) and India (+2.9% per year).

In value terms, the largest jersey markets worldwide were the United States ($16B), China ($9.8B) and Japan ($4.6B), together accounting for 27% of the global market. Germany, Indonesia, the UK, France, Cambodia, Pakistan, Bangladesh, India and Mexico lagged somewhat behind, together comprising a further 17%.

Among the main consuming countries, Cambodia, with a CAGR of +25.5%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of jersey per capita consumption in 2022 were Cambodia (15 units per person), the United States (9.3 units per person) and the UK (5.1 units per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Cambodia (with a CAGR of +28.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Jerseys, Pullovers, Cardigans And Similar Articles

Global jersey production dropped slightly to 14B units in 2022, flattening at 2021. The total output volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the production volume increased by 17%. Over the period under review, global production attained the maximum volume at 14B units in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

In value terms, jersey production contracted slightly to $124.6B in 2022 estimated in export price. Over the period under review, the total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.6% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 28% against the previous year. Over the period under review, global production reached the peak level at $176.1B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

China (4.5B units) remains the largest jersey producing country worldwide, comprising approx. 33% of total volume. Moreover, jersey production in China exceeded the figures recorded by the second-largest producer, Bangladesh (1.7B units), threefold. The third position in this ranking was taken by India (784M units), with a 5.7% share.

From 2012 to 2022, the average annual growth rate of volume in China was relatively modest. In the other countries, the average annual rates were as follows: Bangladesh (+3.1% per year) and India (+2.9% per year).

Imports

World Imports of Jerseys, Pullovers, Cardigans And Similar Articles

In 2022, approx. 8.3B units of jerseys, pullovers, cardigans and similar articles were imported worldwide; growing by 8.2% on the previous year. The total import volume increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 18% against the previous year. Global imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, jersey imports expanded sharply to $68.3B in 2022. The total import value increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 23% against the previous year. Over the period under review, global imports attained the peak figure in 2022 and are likely to see steady growth in the near future.

Imports By Country

In 2022, the United States (3.3B units) represented the major importer of jerseys, pullovers, cardigans and similar articles, achieving 39% of total imports. Germany (596M units) ranks second in terms of the total imports with a 7.2% share, followed by Japan (4.8%) and Spain (4.5%). France (366M units), the UK (348M units), Italy (248M units), the Netherlands (243M units), Canada (235M units), Poland (213M units), Belgium (150M units) and Taiwan (Chinese) (125M units) followed a long way behind the leaders.

The United States experienced a relatively flat trend pattern with regard to volume of imports of jerseys, pullovers, cardigans and similar articles. At the same time, Taiwan (Chinese) (+20.2%), Poland (+13.8%), the Netherlands (+8.8%), Spain (+6.7%), Germany (+5.1%), Italy (+4.7%), Belgium (+4.1%), Canada (+2.9%) and France (+2.3%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in the world, with a CAGR of +20.2% from 2012-2022. The UK and Japan experienced a relatively flat trend pattern. While the share of Germany (+2.2 p.p.), Spain (+1.8 p.p.) and Poland (+1.8 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of the United States (-5.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($17.2B) constitutes the largest market for imported jerseys, pullovers, cardigans and similar articles worldwide, comprising 25% of global imports. The second position in the ranking was taken by Germany ($6.1B), with a 9% share of global imports. It was followed by Japan, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value in the United States totaled +1.8%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+3.8% per year) and Japan (-1.0% per year).

Import Prices By Country

The average jersey import price stood at $8.2 per unit in 2022, rising by 4% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2020 an increase of 7.8%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($12 per unit), while the United States ($5.3 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+2.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Jerseys, Pullovers, Cardigans And Similar Articles

In 2022, the amount of jerseys, pullovers, cardigans and similar articles exported worldwide fell to 7.8B units, approximately reflecting the previous year. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 20%. The global exports peaked at 7.9B units in 2021, and then fell in the following year.

In value terms, jersey exports stood at $69.6B in 2022. The total export value increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 25% against the previous year. The global exports peaked in 2022 and are likely to see steady growth in the near future.

Exports By Country

In 2022, China (3.1B units) was the largest exporter of jerseys, pullovers, cardigans and similar articles, generating 39% of total exports. Bangladesh (1,466M units) ranks second in terms of the total exports with a 19% share, followed by Turkey (4.5%). Vietnam (327M units), Cambodia (233M units), Germany (223M units), Spain (206M units), Pakistan (148M units), the United States (147M units) and the Netherlands (139M units) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of exports of jerseys, pullovers, cardigans and similar articles. At the same time, Pakistan (+22.8%), Cambodia (+18.4%), the Netherlands (+11.4%), Vietnam (+9.7%), the United States (+9.3%), Turkey (+7.9%), Spain (+7.0%), Germany (+5.2%) and Bangladesh (+4.4%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in the world, with a CAGR of +22.8% from 2012-2022. From 2012 to 2022, the share of Bangladesh, Cambodia, Vietnam, Turkey and Pakistan increased by +3.7, +2.3, +2.1, +1.9 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($22.5B) remains the largest jersey supplier worldwide, comprising 32% of global exports. The second position in the ranking was held by Bangladesh ($8.2B), with a 12% share of global exports. It was followed by Vietnam, with a 6% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +1.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Bangladesh (+9.0% per year) and Vietnam (+9.1% per year).

Export Prices By Country

In 2022, the average jersey export price amounted to $8.9 per unit, rising by 2.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2014 when the average export price increased by 9.5%. Over the period under review, the average export prices hit record highs at $9.9 per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($15 per unit), while the United States ($5.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+4.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform