Embroidery Market

The article discusses the trends in the global embroidery market, highlighting the growth in consumption, production, imports, and exports. It provides insights into key consuming and producing countries, growth rates, and price trends over the past decade. The market is expected to see continued growth, with projections indicating significant increases in both volume and value by 2030. Turkey emerges as a leading player in both consumption and production, with strong growth rates over the analyzed period. The article also delves into the dynamics of embroidery imports and exports, showcasing the major exporting countries and highlighting trends in export prices. Overall, the global embroidery market is poised for expansion, driven by increasing demand and evolving consumer preferences.

Market Forecast

Driven by increasing demand for embroidery (without visible ground) in the piece 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 +8.5% for the period from 2022 to 2030, which is projected to bring the market volume to 100K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +7.4% for the period from 2022 to 2030, which is projected to bring the market value to $2.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Embroidery (Without Visible Ground) In The Piece

Global embroidery consumption declined dramatically to 52K tons in 2022, falling by -19.6% on the year before. Over the period under review, consumption, however, recorded resilient growth. Over the period under review, global consumption attained the maximum volume at 94K tons in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

The global embroidery market value declined to $1.5B in 2022, waning by -7.5% 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). In general, consumption, however, continues to indicate a notable increase. Over the period under review, the global market attained the peak level at $2.4B in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The country with the largest volume of embroidery consumption was Turkey (30K tons), accounting for 58% of total volume. Moreover, embroidery consumption in Turkey exceeded the figures recorded by the second-largest consumer, India (2.9K tons), tenfold. The third position in this ranking was taken by the United States (2K tons), with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Turkey stood at +34.6%. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+8.0% per year) and the United States (+10.3% per year).

In value terms, Turkey ($360M) led the market, alone. The second position in the ranking was held by India ($138M). It was followed by Japan.

In Turkey, the embroidery market expanded at an average annual rate of +24.3% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: India (+8.1% per year) and Japan (-1.5% per year).

In 2022, the highest levels of embroidery per capita consumption was registered in Turkey (356 kg per 1000 persons), followed by Japan (6.4 kg per 1000 persons), the United States (5.9 kg per 1000 persons) and Pakistan (3.8 kg per 1000 persons), while the world average per capita consumption of embroidery was estimated at 6.6 kg per 1000 persons.

From 2012 to 2022, the average annual growth rate of the embroidery per capita consumption in Turkey stood at +32.7%. In the other countries, the average annual rates were as follows: Japan (+1.9% per year) and the United States (+9.6% per year).

Production

World Production of Embroidery (Without Visible Ground) In The Piece

Global embroidery production contracted rapidly to 56K tons in 2022, with a decrease of -19.1% compared with 2021. Over the period under review, production, however, enjoyed buoyant growth. The growth pace was the most rapid in 2016 with an increase of 78% against the previous year. Over the period under review, global production attained the maximum volume at 95K tons in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

In value terms, embroidery production declined to $1.5B in 2022 estimated in export price. Overall, production, however, showed a notable expansion. The pace of growth was the most pronounced in 2016 with an increase of 49%. Global production peaked at $2.3B in 2019; however, from 2020 to 2022, production remained at a lower figure.

Production By Country

Turkey (30K tons) constituted the country with the largest volume of embroidery production, accounting for 54% of total volume. Moreover, embroidery production in Turkey exceeded the figures recorded by the second-largest producer, China (6K tons), fivefold. The third position in this ranking was taken by India (3.8K tons), with a 6.8% share.

From 2012 to 2022, the average annual growth rate of volume in Turkey totaled +33.9%. The remaining producing countries recorded the following average annual rates of production growth: China (+4.0% per year) and India (+9.9% per year).

Imports

World Imports of Embroidery (Without Visible Ground) In The Piece

In 2022, overseas purchases of embroidery (without visible ground) in the piece decreased by -1.3% to 2.6K tons, falling for the fourth year in a row after two years of growth. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 43%. Global imports peaked at 6.6K tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, embroidery imports declined modestly to $84M in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 30%. Global imports peaked at $168M in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports By Country

In 2022, Turkey (725 tons) represented the largest importer of embroidery (without visible ground) in the piece, generating 28% of total imports. Spain (162 tons) held the second position in the ranking, followed by Canada (157 tons) and Morocco (137 tons). All these countries together held near 17% share of total imports. Brazil (112 tons), the United States (102 tons), the United Arab Emirates (74 tons), Bangladesh (69 tons), Italy (68 tons), China (51 tons), France (45 tons), Cambodia (42 tons) and Germany (42 tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the embroidery (without visible ground) in the piece imports, with a CAGR of +53.9% from 2012 to 2022. At the same time, Morocco (+33.1%), Bangladesh (+30.8%), Spain (+6.9%) and Italy (+4.7%) displayed positive paces of growth. Germany experienced a relatively flat trend pattern. By contrast, the United States (-1.2%), Canada (-2.6%), Cambodia (-4.2%), China (-6.1%), France (-6.6%), the United Arab Emirates (-10.5%) and Brazil (-11.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, Morocco, Spain and Bangladesh increased by +27, +4.9, +3 and +2.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest embroidery importing markets worldwide were Italy ($16M), France ($8.4M) and Turkey ($6.7M), with a combined 37% share of global imports.

Turkey, with a CAGR of +31.6%, saw the highest growth rate of the value of imports, in terms of 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

In 2022, the average embroidery import price amounted to $31,951 per ton, which is down by -1.6% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 9.1%. Global import price peaked at $35,584 per ton in 2013; however, from 2014 to 2022, 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 Italy ($232,147 per ton), while Canada ($5,328 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Embroidery (Without Visible Ground) In The Piece

In 2022, approx. 6.1K tons of embroidery (without visible ground) in the piece were exported worldwide; shrinking by -7.1% compared with 2021 figures. Over the period under review, exports, however, saw a strong expansion. The pace of growth appeared the most rapid in 2014 with an increase of 60%. Over the period under review, the global exports hit record highs at 9.1K tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, embroidery exports contracted modestly to $155M in 2022. In general, total exports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -36.7% against 2017 indices. The pace of growth appeared the most rapid in 2013 with an increase of 37%. Over the period under review, the global exports reached the maximum at $245M in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

China was the major exporter of embroidery (without visible ground) in the piece in the world, with the volume of exports amounting to 4.3K tons, which was near 70% of total exports in 2022. It was distantly followed by India (860 tons), mixing up a 14% share of total exports. The following exporters - Pakistan (151 tons), Thailand (135 tons) and Turkey (121 tons) - each resulted at a 6.6% share of total exports.

Exports from China increased at an average annual rate of +15.2% from 2012 to 2022. At the same time, Pakistan (+25.6%), India (+20.2%) and Turkey (+7.3%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in the world, with a CAGR of +25.6% from 2012-2022. By contrast, Thailand (-9.5%) illustrated a downward trend over the same period. China (+29 p.p.), India (+8.7 p.p.) and Pakistan (+1.9 p.p.) significantly strengthened its position in terms of the global exports, while Thailand saw its share reduced by -12.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest embroidery supplying countries worldwide were China ($68M), India ($39M) and Thailand ($3.1M), together comprising 71% of global exports. Turkey and Pakistan lagged somewhat behind, together comprising a further 2%.

Among the main exporting countries, Pakistan, with a CAGR of +35.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average embroidery export price stood at $25,237 per ton in 2022, surging by 5.6% against the previous year. In general, the export price, however, continues to indicate a abrupt decrease. The growth pace was the most rapid in 2019 an increase of 10% against the previous year. Over the period under review, the average export prices hit record highs at $45,162 per ton in 2012; however, from 2013 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 India ($44,970 per ton), while Pakistan ($9,238 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+8.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform