ASEAN: Hat And Headgear Market 2025

Hat And Headgear Market Size in ASEAN

The ASEAN hat and headgear market shrank sharply to $X in 2022, waning by -71.5% against the previous year. In general, consumption showed a deep contraction. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Hat And Headgear Production in ASEAN

In value terms, hat and headgear production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when the production volume increased by 13% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Hat And Headgear Exports

Exports in ASEAN

In 2022, approx. X units of hats and other headgear were exported in ASEAN; with an increase of 184% against the previous year. In general, exports showed strong 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 rose markedly to $X in 2022. Total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +7.0% 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 -7.3% against 2020 indices. The pace of growth was the most pronounced in 2014 when exports increased by 13% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Vietnam was the largest exporter of hats and other headgear in ASEAN, with the volume of exports resulting at X units, which was approx. 65% of total exports in 2022. Thailand (X units) took the second position in the ranking, followed by Indonesia (X units) and Cambodia (X units). All these countries together took near 30% share of total exports. Malaysia (X units) and Singapore (X units) held a little share of total exports.

Exports from Vietnam increased at an average annual rate of +18.5% from 2012 to 2022. At the same time, Singapore (+27.3%), Thailand (+26.1%), Cambodia (+24.5%), Indonesia (+17.5%) and Malaysia (+17.0%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +27.3% from 2012-2022. While the share of Thailand (+5.9 p.p.) and Cambodia (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Vietnam (-2.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest hat and headgear supplier in ASEAN, comprising 71% of total exports. The second position in the ranking was held by Indonesia ($X), with a 6.8% share of total exports. It was followed by Cambodia, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Vietnam totaled +6.8%. In the other countries, the average annual rates were as follows: Indonesia (+9.6% per year) and Cambodia (+15.5% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, waning by -63% against the previous year. In general, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2019 an increase of 13% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 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 Singapore ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (-1.4%), while the other leaders experienced a decline in the export price figures.

Hat And Headgear Imports

Imports in ASEAN

For the third year in a row, ASEAN recorded growth in overseas purchases of hats and other headgear, which increased by 137% to X units in 2022. Overall, imports posted a remarkable 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 soared to $X in 2022. Over the period under review, imports posted a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the three major importers of hats and other headgear, namely Malaysia, Myanmar and Singapore, represented more than half of total import. Thailand (X units) held the next position in the ranking, followed by Indonesia (X units), Vietnam (X units) and the Philippines (X units). All these countries together held near 36% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +55.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported hats and other headgear in ASEAN, comprising 47% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 14% share of total imports. It was followed by Thailand, with a 13% share.

In Singapore, hat and headgear imports increased at an average annual rate of +23.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (+17.0% per year) and Thailand (+14.0% per year).

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2022, which is down by -38.3% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 22%. The level of import peaked at $X per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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 Singapore ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+3.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform