ASEAN: Walking-Sticks And Whips Market 2024

Walking-Sticks And Whips Market Size in ASEAN

After six years of decline, the ASEAN walking-sticks and whips market increased by 9.9% to $X in 2021. Over the period under review, consumption posted a prominent expansion. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Walking-Sticks And Whips Production in ASEAN

In value terms, walking-sticks and whips production totaled $X in 2021 estimated in export price. In general, production posted a buoyant increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by 107% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Walking-Sticks And Whips Exports

Exports in ASEAN

In 2021, overseas shipments of walking-sticks, seat-sticks, whips and riding-crops decreased by -54% to X tons, falling for the second year in a row after three years of growth. Overall, exports, however, saw resilient growth. The most prominent rate of growth was recorded in 2013 when exports increased by 226%. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, walking-sticks and whips exports soared to $X in 2021. Over the period under review, exports, however, recorded resilient growth. The pace of growth was the most pronounced in 2013 with an increase of 125%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Indonesia (X tons) represented the largest exporter of walking-sticks, seat-sticks, whips and riding-crops, achieving 79% of total exports. It was distantly followed by Vietnam (X tons), committing a 14% share of total exports. The following exporters - Singapore (X tons) and Malaysia (X tons) - together made up 5.4% of total exports.

Exports from Indonesia increased at an average annual rate of +12.4% from 2012 to 2021. At the same time, Vietnam (+32.9%), Singapore (+8.7%) and Malaysia (+1.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +32.9% from 2012-2021. From 2012 to 2021, the share of Vietnam and Indonesia increased by +12 and +11 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X), Indonesia ($X) and Singapore ($X) were the countries with the highest levels of exports in 2021, with a combined 61% share of total exports.

Among the main exporting countries, Vietnam, with a CAGR of +51.2%, saw the highest growth rate of 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 export price in ASEAN stood at $X per ton in 2021, surging by 173% against the previous year. Overall, the export price saw a buoyant expansion. The pace of growth appeared the most rapid in 2016 when the export price increased by 305%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Malaysia ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+13.8%), while the other leaders experienced more modest paces of growth.

Walking-Sticks And Whips Imports

Imports in ASEAN

In 2021, overseas purchases of walking-sticks, seat-sticks, whips and riding-crops increased by 36% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 52%. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, walking-sticks and whips imports skyrocketed to $X in 2021. Overall, imports posted a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 23% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

Imports by Country

Indonesia was the largest importer of walking-sticks, seat-sticks, whips and riding-crops in ASEAN, with the volume of imports finishing at X tons, which was near 52% of total imports in 2021. It was distantly followed by Malaysia (X tons), Vietnam (X tons) and Thailand (X tons), together constituting a 42% share of total imports. The following importers - the Philippines (X tons), Singapore (X tons) and Cambodia (X tons) - each reached a 5.6% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to walking-sticks and whips imports into Indonesia stood at +11.0%. At the same time, Vietnam (+99.3%), Malaysia (+14.9%), Thailand (+12.8%) and Cambodia (+11.6%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +99.3% from 2012-2021. By contrast, Singapore (-10.5%) and the Philippines (-12.1%) illustrated a downward trend over the same period. Vietnam (+13 p.p.), Malaysia (+5.8 p.p.), Indonesia (+4.1 p.p.) and Thailand (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while Singapore and the Philippines saw its share reduced by -8.8% and -15.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest walking-sticks and whips importing markets in ASEAN were Malaysia ($X), Indonesia ($X) and Vietnam ($X), together comprising 77% of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of +85.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, which is down by -14% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 37%. Over the period under review, import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+18.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform