Singapore: Hat And Headgear Market 2024

Hat And Headgear Market Size in Singapore

The Singaporean hat and headgear market soared to $X in 2022, with an increase of X% 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 saw a significant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Hat And Headgear Exports

Exports from Singapore

In 2022, the amount of hats and other headgear exported from Singapore surged to X units, rising by X% on 2021 figures. Overall, exports enjoyed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, hat and headgear exports skyrocketed to $X in 2022. Over the period under review, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Japan (X units), Malaysia (X units) and Indonesia (X units) were the main destinations of hat and headgear exports from Singapore, together accounting for X% of total exports. Australia, the United States, the Philippines, Thailand, India, South Korea, Hong Kong SAR, Vietnam, the United Arab Emirates and Brunei Darussalam lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Malaysia ($X) and the United States ($X) appeared to be the largest markets for hat and headgear exported from Singapore worldwide, with a combined X% share of total exports. Australia, Indonesia, the Philippines, Thailand, Brunei Darussalam, India, South Korea, Vietnam, the United Arab Emirates and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hat and headgear export price stood at $X per unit in 2022, with a decrease of X% against the previous year. Over the period under review, the export price showed a pronounced reduction. The growth pace was the most rapid in 2015 when the average export price increased by X%. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brunei Darussalam ($X per unit), while the average price for exports to Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brunei Darussalam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Hat And Headgear Imports

Imports into Singapore

Hat and headgear imports into Singapore surged to X units in 2022, jumping by X% compared with the year before. Overall, imports posted a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, hat and headgear imports surged to $X in 2022. In general, imports posted significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Malaysia (X units) constituted the largest hat and headgear supplier to Singapore, with a X% share of total imports. Moreover, hat and headgear imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X units), threefold. Italy (X units) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Italy (X% per year).

In value terms, Malaysia ($X) constituted the largest supplier of hats and other headgear to Singapore, comprising X% of total imports. The second position in the ranking was taken by China ($X), with an X% share of total imports. It was followed by Italy, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Italy (X% per year).

Import Prices by Country

The average hat and headgear import price stood at $X per unit in 2022, falling by X% against the previous year. In general, the import price, however, showed a noticeable expansion. The growth pace was the most rapid in 2015 an increase of X% against the previous year. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Indonesia ($X per unit) and Vietnam ($X per unit), while the price for Malaysia ($X per unit) and Italy ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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