Asia: Mannequin Market 2024

Mannequin Market Size in Asia

The Asian mannequin market declined slightly to $X in 2022, falling by -4.4% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Mannequin Production in Asia

In value terms, mannequin production expanded modestly to $X in 2022 estimated in export price. Overall, production, however, saw a perceptible setback. The growth pace was the most rapid in 2019 with an increase of 8.5% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Mannequin Exports

Exports in Asia

In 2022, the amount of mannequins exported in Asia dropped to X tons, with a decrease of -4.1% compared with the previous year's figure. In general, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2016 with an increase of 21% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, mannequin exports declined to $X in 2022. Over the period under review, exports saw a pronounced curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 33% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China dominates exports structure, recording X tons, which was approx. 79% of total exports in 2022. The following exporters - Hong Kong SAR (X tons), Taiwan (Chinese) (X tons), South Korea (X tons), India (X tons) and Israel (X tons) - together made up 11% of total exports.

Exports from China decreased at an average annual rate of -8.2% from 2012 to 2022. At the same time, Taiwan (Chinese) (+2.8%), India (+2.3%) and Israel (+1.7%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia, with a CAGR of +2.8% from 2012-2022. By contrast, South Korea (-5.3%) and Hong Kong SAR (-12.3%) illustrated a downward trend over the same period. While the share of Taiwan (Chinese) (+1.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Hong Kong SAR (-2.4 p.p.) and China (-6.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest mannequin supplier in Asia, comprising 64% of total exports. The second position in the ranking was held by Israel ($X), with a 5% share of total exports. It was followed by Hong Kong SAR, with a 4.8% share.

In China, mannequin exports contracted by an average annual rate of -3.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Israel (+5.2% per year) and Hong Kong SAR (-9.3% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, falling by -2.9% against the previous year. Export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mannequin export price decreased by -6.0% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the export price increased by 15%. Over the period under review, the export prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.7%), while the other leaders experienced more modest paces of growth.

Mannequin Imports

Imports in Asia

Mannequin imports fell modestly to X tons in 2022, waning by -1.9% compared with 2021. In general, imports recorded a noticeable curtailment. The growth pace was the most rapid in 2013 with an increase of 10% against the previous year. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, mannequin imports fell slightly to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by 17% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Indonesia (X tons), distantly followed by the United Arab Emirates (X tons), Japan (X tons), China (X tons), Hong Kong SAR (X tons) and South Korea (X tons) represented the key importers of mannequins, together achieving 72% of total imports. India (X tons), Malaysia (X tons), Pakistan (X tons), Taiwan (Chinese) (X tons) and Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +15.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mannequin importing markets in Asia were the United Arab Emirates ($X), China ($X) and Indonesia ($X), together accounting for 47% of total imports.

Indonesia, with a CAGR of +12.4%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The pace of growth appeared the most rapid in 2019 an increase of 16%. The level of import peaked at $X per ton 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 India ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+9.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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