The U.S. and China Remain the Main Consumers of T-Shirts

IndexBox has just published a new report "World: T-Shirts - Market Report. Analysis and Forecast to 2025". Here is a summary of the report's key findings.

The T-Shirt Market Volume Improved Notably Over the Last Year

In 2016, the global T-shirt market grew to X units, rising by an average growth rate of X% over the last nine years. In wholesale prices, the market totaled $ X in 2016, which was X% above the previous year level. This figure reflects the total revenue of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which are included in the final consumer price). The following a slight decline, the market expanded at a double-digit rate from 2010-2011, subsequently levelling off over the next two years. Afterwards, it declined noticeably from 2014-2015 and then bounced back slightly in 2016.

In The Medium Term, the T-Shirt Market Is Set to Continue Moderate Growth

According to IndexBox estimates, T-shirt consumption is set to maintain an upward growth trend in the immediate term, due to the recovery seen in the global economy, the process of ongoing urbanization, the rising population, and increasing income levels. The global upward trend of the T-shirt market is expected to continue with +X% in the medium term.

The global T-shirt market will develop and expand at various rates in different regions. While the economically mature markets of the U.S., Canada, and Western Europe are close to their saturation point in terms of T-shirt consumption, emerging economies, such as China, India, Russia, and Brazil are far from saturated. Therefore, the market will grow both driven by developed countries, where T-shirts will continue to enjoy popularity, and developing countries in Asia.

The U.S. and China Remain the Main Consumers of T-Shirts

The highest annual growth rates in terms of T-shirt consumption from 2007 to 2016 were recorded in China, with a X% growth, India and Japan, with X% and X% growth, respectively. Consequently, China significantly strengthened its share in terms of global consumption from X% in 2007 to X% in 2016. By contrast, the share of France (-X percentage points), Spain and the U.K. (-X percentage points) declined over the period under review.

Amongst the leading consuming countries, high levels of per capita consumption (X units/year in 2016), the U.S. and the U.K. (X units/year), which were significantly higher than the world average of X units/year. From 2007 to 2016, per capita consumption in the U.S. grew by X% per year; in Canada and the U.K. it declined by -X% per year and -X% per year respectively. Annual growth of per capita consumption from 2007 to 2016 was most notable in China, with X% growth.

Garments and Accessories, Jerseys and Shirts Appear to Be an Attractive Product for o Business Diversification

T-shirts, singlets and other vests, jerseys, pullovers, cardigans, waistcoats and similar articles, trousers, bib and brace overalls, breeches and shorts and garments and clothing accessories are the most in-demand products on the world market - they are characterized not only by a large market volume and high per capita consumption, but also increasing exports.

Moreover, world prices for garments and clothing accessories, shirts and jerseys, pullovers, cardigans, waistcoats and similar articles are not only relatively high, but they are growing, which makes these products attractive for business diversification.

China, Cambodia, India, Bangladesh and Vietnam Are the Most Promising Supplying Countries

Despite declining exports, China is a promising supplying country, as it remains the world's largest producer of t-shirts and their main supplier in the global market. Export prices in China (about $ X per unit) are just below the world average, however, they have been increasing in recent years.

However, part of the export-oriented production is transferred to other Asian countries, since there the cost of labor is lower than in China. Promising suppliers of products are Cambodia and India - these countries have seen a significant increase in export supplies against the backdrop of growing national production, while export prices remain rather low and at the same time are declining. Bangladesh and Vietnam are also promising countries, as the production and export of T-shirts is growing, despite the relatively high export prices.

The Markets of the USA, Japan and Germany Are the Most Attractive for World Exporters

The U.S. remain the most attractive market for global suppliers of T-shirts, thanks to the large volume of imports (X% in the global volume) and its growth, which is due to high income and consumer demand. On the other hand, import prices in the U.S. are much lower than the world average, which is due to a significant supply of very cheap products from neighbouring Latin American countries.

Other attractive markets for foreign suppliers are Japan and Germany. T-shirt markets in these countries are, firstly, growing steadily, and, secondly, are almost completely provided with imports of products. At the same time, the average import prices for T-shirts in these countries exceed the world average, which contributes to the growth of foreign suppliers' revenues.

T-shirt Production Continued Its Growth

T-shirt production increased from X units in 2007 to X units in 2016, expanding by +X% per year. In value terms, production stood at $ X in 2016, with only a slight increase compared to the previous year. Overall, from 2007 to 2016, the average annual growth rate with regard to production value amounted to +X%.

Asian Countries Continue to Lead the Way in T-Shirt Production

China appeared as the key world T-shirt producing country with an output of about X units in 2016, which accounted for X% of total global output. The other major producers were Bangladesh (X%), India (X%), Turkey (X%), Vietnam (X%), the US (X%), Cambodia (X%) and Mexico (X%).

Despite the fact that China remains a key global centre for the production of T-shirts, production is gradually shifting to the other countries in Asia, where manufacturing costs of light industry products are significantly lower than in China. Therefore, Cambodia (+X% per year), Vietnam (+X%), Bangladesh (+X% per year) and India (+X%) experienced the most notable growth in T-shirt production over the period under review. At the same time, production in China indicated more modest paces of growth.

Approx. X% of Total T-Shirt Consumption Was Sent to Exports

T-shirts are a widely traded commodity, with the share of export in total output standing at approx. X% from 2007-2016. The high trade intensity is determined mainly by the substantial distances between the main T-shirt manufacturing and key consuming countries. T-shirts will continue to be highly traded, fueled by increased consumption, trade liberalization policies, and intense global and regional integration.

China, Bangladesh, India and Turkey Constitute the Largest Exporters of T-Shirts

In 2016, the volume of global T-shirt exports totaled X units, a X% growth from the previous year. In value terms, exports remained relatively stable over the last year at $X in 2016.

China (X% of total exports), Bangladesh (X%), India (X%), Turkey (X%), the U.S. (X%), Vietnam and Cambodia (X%, each) were the main global suppliers of T-shirts. From 2007 to 2016, Vietnam (+X% per year), Bangladesh (+X% per year) and India (+X%) were the fastest growing suppliers amongst the major exporters. The increased exports in these countries became feasible as a result of the increase in labour costs. While the share of Bangladesh (+X percentage points), India (+X percentage points) and Vietnam (+X percentage points) increased, the share of China (-X percentage points) is displayed a negative dynamic. The shares of the other countries remained relatively stable throughout the analyzed period.

The U.S. Account for Approx. X% of Global T-shirt Imports

The volume of global T-shirt imports increased by X% over the last year to X units in 2016, which was equal to $X. The imports trend pattern generally mirrored that of exports: these trade flows globally complement each other.

In 2016, the U.S. (X%) was the leading destination for T-shirt imports, followed by Germany, the U.K. (X%, each), Japan, Italy, France (X%, each) and Spain (X%). From 2007 to 2016, Japan (+X%) and the U.S. (+X%) had the highest growth rates of imports. The remaining importing countries showed more moderate or even negative paces of growth. The U.S. (+X percentage points) strengthened its position in terms of the global imports, while the UK and France (-X percentage points, each) saw its share reduced from 2007 to 2016. The shares of the other countries remained relatively stable throughout the analyzed period.

Do you want to know more about global t-shirt market? Get the latest trends and insight from our report. It includes a wide range of statistics on

• t-shirt market share
• t-shirt prices
• t-shirt industry
• t-shirt sales
• t-shirt import
• t-shirt export
• t-shirt market forecast
• t-shirt price forecast
• key t-shirt producers

Source: IndexBox Market Intelligence Platform