Asia: Men Knitwear Market 2025

Men Knitwear Market Size in Asia

In 2022, the Asian men knitwear market was finally on the rise to reach $X after two years of decline. The total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -12.9% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Men Knitwear Production in Asia

In value terms, men knitwear production dropped to $X in 2022 estimated in export price. The total production indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.7% against 2020 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 38%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Men Knitwear Exports

Exports in Asia

In 2022, men knitwear exports in Asia skyrocketed to X units, surging by 32% compared with the previous year. Over the period under review, exports recorded a measured expansion. The pace of growth appeared the most rapid in 2019 with an increase of 50% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, men knitwear exports expanded rapidly to $X in 2022. The total export value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 41%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

China (X units) and Bangladesh (X units) prevails in exports structure, together generating 74% of total exports. It was distantly followed by Vietnam (X units), generating a 6.6% share of total exports. Pakistan (X units), Turkey (X units), India (X units) and Cambodia (X units) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +46.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest men knitwear supplier in Asia, comprising 42% of total exports. The second position in the ranking was held by Bangladesh ($X), with a 14% share of total exports. It was followed by Vietnam, with a 12% share.

In China, men knitwear exports plunged by an average annual rate of -4.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bangladesh (+19.3% per year) and Vietnam (+17.0% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, falling by -17.5% against the previous year. Overall, the export price saw a perceptible reduction. The growth pace was the most rapid in 2016 when the export price increased by 31%. Over the period under review, the export prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat 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 Cambodia ($X per unit), while Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (+1.5%), while the other leaders experienced mixed trends in the export price figures.

Men Knitwear Imports

Imports in Asia

In 2022, the amount of men's or boys' clothing (knitted or crocheted) imported in Asia amounted to X units, increasing by 13% on the previous year's figure. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when imports increased by 18% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, men knitwear imports rose to $X in 2022. The total import value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 20%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

The purchases of the twelve major importers of men's or boys' clothing (knitted or crocheted), namely the United Arab Emirates, Japan, Malaysia, Myanmar, Vietnam, South Korea, Iraq, Hong Kong SAR, Turkey, Kyrgyzstan, China and India, represented more than two-thirds of total import. Pakistan (X units) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +82.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), the United Arab Emirates ($X) and Malaysia ($X) constituted the countries with the highest levels of imports in 2022, with a combined 39% share of total imports. South Korea, China, Hong Kong SAR, Vietnam, Turkey, Iraq, India, Kyrgyzstan, Pakistan and Myanmar lagged somewhat behind, together comprising a further 38%.

Myanmar, with a CAGR of +56.1%, saw the highest rates of growth with regard to 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 unit in 2022, with a decrease of -7.5% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 15% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, import prices remained at a 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 China ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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