Asia: Men Knitwear Market 2024

Men Knitwear Market Size in Asia

For the third year in a row, the Asian men knitwear market recorded decline in sales value, which decreased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Men Knitwear Production in Asia

In value terms, men knitwear production reduced modestly to $X in 2022 estimated in export price. The total production indicated modest growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2019 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Men Knitwear Exports

Exports in Asia

In 2022, men knitwear exports in Asia expanded slightly to X units, surging by X% against 2021 figures. Total exports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2017 indices. The growth pace was the most rapid in 2019 with an increase of X%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, men knitwear exports rose sharply to $X in 2022. Overall, exports showed a slight expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China prevails in exports structure, reaching X units, which was approx. X% of total exports in 2022. Bangladesh (X units) held the second position in the ranking, followed by Pakistan (X units), Vietnam (X units) and Turkey (X units). All these countries together took approx. X% share of total exports. India (X units), Cambodia (X units) and Indonesia (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to men knitwear exports from China stood at X%. At the same time, Vietnam (X%), Indonesia (X%), Bangladesh (X%), Turkey (X%), Pakistan (X%), India (X%) and Cambodia (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Bangladesh, Vietnam, Pakistan, Turkey, India and Indonesia increased by X, X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest men knitwear supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with an X% share of total exports. It was followed by Bangladesh, with a X% share.

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

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, increasing by X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cambodia ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (X%), while the other leaders experienced a decline in the export price figures.

Men Knitwear Imports

Imports in Asia

In 2022, imports of men's or boys' clothing (knitted or crocheted) in Asia contracted to X units, with a decrease of X% on 2021 figures. Over the period under review, imports, however, showed a slight expansion. The pace of growth was the most pronounced in 2016 when imports increased by X%. The volume of import peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, men knitwear imports reached $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Japan (X units), Myanmar (X units), the United Arab Emirates (X units), South Korea (X units) and Iraq (X units) was the major importer of men's or boys' clothing (knitted or crocheted) in Asia, constituting X% of total import. It was distantly followed by Hong Kong SAR (X units), creating a X% share of total imports. Turkey (X units), China (X units), India (X units), Taiwan (Chinese) (X units), Yemen (X units), Kyrgyzstan (X units) and Malaysia (X units) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported men's or boys' clothing (knitted or crocheted) in Asia, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Japan totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Asia stood at $X per unit in 2022, growing by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of X%. As a result, import price attained the peak level of $X per unit. From 2016 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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