Women Knitwear Market

The article discusses the increasing demand for women's knitwear and crocheted clothing globally, with a projected CAGR of +4.7% in consumption and +6.5% in value from 2022 to 2030. It analyzes trends in consumption, production, imports, and exports from 2012 to 2022, highlighting fluctuations and growth rates in various countries. China leads in production and exports, while the United States, Germany, and the UK are top importers. The analysis also includes average prices and growth rates in different markets.

Market Forecast

Driven by increasing demand for women's or girls' clothing (knitted or crocheted) worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +4.7% for the period from 2022 to 2030, which is projected to bring the market volume to 17B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.5% for the period from 2022 to 2030, which is projected to bring the market value to $169.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Women's Or Girls' Clothing (Knitted Or Crocheted)

Global women knitwear consumption declined to 12B units in 2022, dropping by -5.6% on 2021 figures. In general, the total consumption indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +6.4% against 2020 indices. Over the period under review, global consumption attained the peak volume at 13B units in 2021, and then shrank in the following year.

The global women knitwear market revenue fell slightly to $102.6B in 2022, with a decrease of -2.2% 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). Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +12.7% against 2020 indices. Over the period under review, the global market hit record highs at $105B in 2021, and then reduced slightly in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (1.6B units), China (1.6B units) and India (610M units), together comprising 31% of global consumption. Germany, Brazil, Japan, the UK, Pakistan, Nigeria, Indonesia, Mexico, France and Canada lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Germany (with a CAGR of +11.3%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($12.1B), China ($8.2B) and the United States ($7.7B) appeared to be the countries with the highest levels of market value in 2022, with a combined 27% share of the global market. Nigeria, the UK, France, Japan, Brazil, Canada, Pakistan, Indonesia, India and Mexico lagged somewhat behind, together accounting for a further 16%.

India, with a CAGR of +11.2%, saw the highest growth rate of market size in terms of the main consuming countries 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 women knitwear per capita consumption in 2022 were Germany (5.2 units per person), the UK (5.2 units per person) and Canada (5 units per person).

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +10.9%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Women's Or Girls' Clothing (Knitted Or Crocheted)

In 2022, the amount of women's or girls' clothing (knitted or crocheted) produced worldwide fell to 14B units, which is down by -7.2% on the previous year's figure. Over the period under review, the total production indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +4.7% 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 +62.2% against 2015 indices. The pace of growth appeared the most rapid in 2018 with an increase of 29% against the previous year. Global production peaked at 15B units in 2021, and then dropped in the following year.

In value terms, women knitwear production reduced to $115.6B in 2022 estimated in export price. In general, the total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.7% 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 +10.3% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 32% against the previous year. Global production peaked at $149.8B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

China (5.5B units) remains the largest women knitwear producing country worldwide, comprising approx. 39% of total volume. Moreover, women knitwear production in China exceeded the figures recorded by the second-largest producer, Bangladesh (1.1B units), fivefold. India (760M units) ranked third in terms of total production with a 5.4% share.

In China, women knitwear production remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Bangladesh (+22.4% per year) and India (+8.6% per year).

Imports

World Imports of Women's Or Girls' Clothing (Knitted Or Crocheted)

In 2022, overseas purchases of women's or girls' clothing (knitted or crocheted) increased by 5.5% to 6.5B units, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +4.2% 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 2021 with an increase of 23%. Global imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, women knitwear imports amounted to $41.3B in 2022. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 27% against the previous year. Global imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports By Country

In 2022, the United States (1.6B units), distantly followed by Germany (699M units), the UK (359M units), France (318M units) and Spain (317M units) were the largest importers of women's or girls' clothing (knitted or crocheted), together creating 51% of total imports. The following importers - the Netherlands (235M units), Poland (230M units), the United Arab Emirates (190M units), Italy (172M units), Japan (171M units), Canada (155M units), Belgium (119M units) and South Korea (118M units) - together made up 21% of total imports.

Imports into the United States increased at an average annual rate of +2.7% from 2012 to 2022. At the same time, Japan (+30.6%), Germany (+27.9%), Poland (+17.6%), Spain (+11.7%), the Netherlands (+10.0%), Italy (+8.0%), France (+6.8%), Belgium (+6.5%), Canada (+5.3%) and the UK (+3.3%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in the world, with a CAGR of +30.6% from 2012-2022. South Korea experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-2.9%) illustrated a downward trend over the same period. While the share of Germany (+9.3 p.p.), Poland (+2.5 p.p.), Spain (+2.4 p.p.), Japan (+2.3 p.p.) and the Netherlands (+1.5 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of the United Arab Emirates (-3 p.p.) and the United States (-3.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($8B), Germany ($5B) and the UK ($2.3B) constituted the countries with the highest levels of imports in 2022, with a combined 37% share of global imports. France, Spain, the Netherlands, Japan, Poland, Italy, Canada, South Korea, Belgium and the United Arab Emirates lagged somewhat behind, together accounting for a further 33%.

Poland, with a CAGR of +18.1%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average women knitwear import price stood at $6.3 per unit in 2022, with an increase of 5.8% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. Global import price peaked at $6.9 per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($9 per unit), while the United Arab Emirates ($4.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+7.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Women's Or Girls' Clothing (Knitted Or Crocheted)

Global women knitwear exports contracted modestly to 8.6B units in 2022, approximately mirroring the previous year. Over the period under review, total exports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +87.8% against 2017 indices. The most prominent rate of growth was recorded in 2019 with an increase of 39% against the previous year. Over the period under review, the global exports attained the peak figure at 8.6B units in 2021, and then dropped in the following year.

In value terms, women knitwear exports rose sharply to $51.8B in 2022. The total export value increased at an average annual rate of +2.1% 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 2021 when exports increased by 36%. Over the period under review, the global exports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

Exports By Country

China was the largest exporting country with an export of about 3.9B units, which reached 46% of total exports. Bangladesh (1,061M units) ranks second in terms of the total exports with a 12% share, followed by Vietnam (6.8%). The following exporters - Cambodia (340M units), Indonesia (267M units), Germany (264M units), Turkey (237M units), India (168M units), Spain (163M units) and the Netherlands (143M units) - together made up 18% of total exports.

From 2012 to 2022, average annual rates of growth with regard to women knitwear exports from China stood at -2.4%. At the same time, Bangladesh (+35.4%), the Netherlands (+15.3%), Germany (+9.9%), Spain (+9.8%), Vietnam (+9.7%), Cambodia (+6.2%), India (+4.7%), Turkey (+4.4%) and Indonesia (+1.7%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in the world, with a CAGR of +35.4% from 2012-2022. While the share of Bangladesh (+12 p.p.), Vietnam (+3.6 p.p.) and Germany (+1.6 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of China (-25 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($18.7B) remains the largest women knitwear supplier worldwide, comprising 36% of global exports. The second position in the ranking was held by Bangladesh ($4.5B), with an 8.8% share of global exports. It was followed by Vietnam, with an 8% share.

From 2012 to 2022, the average annual growth rate of value in China totaled -3.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Bangladesh (+25.0% per year) and Vietnam (+10.9% per year).

Export Prices By Country

In 2022, the average women knitwear export price amounted to $6 per unit, rising by 5.4% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average export price increased by 26% against the previous year. Over the period under review, the average export prices attained the peak figure at $8.4 per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($12 per unit), while India ($4.3 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform