Asia: Umbrella And Walking-Stick Market 2024

Umbrella And Walking-Stick Market Size in Asia

The Asian umbrella and walking-stick market stood at $X in 2022, surging by 7.4% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Umbrella And Walking-Stick Production in Asia

In value terms, umbrella and walking-stick production reduced to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2021 when the production volume increased by 6.1%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Umbrella And Walking-Stick Exports

Exports in Asia

In 2022, overseas shipments of umbrellas and walking-sticks increased by 93% to X units, rising for the second consecutive year after eight years of decline. Overall, exports, however, recorded a pronounced contraction. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, umbrella and walking-stick exports soared to $X in 2022. The total export value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 27%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

China dominates exports structure, amounting to X units, which was approx. 96% of total exports in 2022. Cambodia (X units) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to umbrella and walking-stick exports from China stood at -2.0%. At the same time, Cambodia (+16.4%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in Asia, with a CAGR of +16.4% from 2012-2022. From 2012 to 2022, the share of Cambodia increased by +2.1 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest umbrella and walking-stick supplier in Asia, comprising 96% of total exports. The second position in the ranking was held by Cambodia ($X), with a 1.6% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China stood at +2.1%.

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, declining by -38.6% against the previous year. Over the period under review, the export price, however, showed a tangible increase. The pace of growth appeared the most rapid in 2018 an increase of 60%. Over the period under review, the export prices reached the maximum at $X per unit in 2020; however, from 2021 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 China ($X per unit), while Cambodia totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.2%).

Umbrella And Walking-Stick Imports

Imports in Asia

In 2022, after five years of decline, there was significant growth in purchases abroad of umbrellas and walking-sticks, when their volume increased by 25% to X units. In general, imports, however, showed a noticeable decline. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, umbrella and walking-stick imports rose remarkably to $X in 2022. Overall, imports, however, saw a perceptible slump. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Japan (X units) was the largest importer of umbrellas and walking-sticks, constituting 34% of total imports. It was distantly followed by South Korea (X units), the Philippines (X units), India (X units), Thailand (X units) and Taiwan (Chinese) (X units), together constituting a 45% share of total imports. The following importers - Myanmar (X units), Malaysia (X units), Turkey (X units) and Indonesia (X units) - together made up 9.4% of total imports.

Imports into Japan decreased at an average annual rate of -3.4% from 2012 to 2022. At the same time, Myanmar (+42.2%), India (+13.7%) and South Korea (+2.5%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in Asia, with a CAGR of +42.2% from 2012-2022. By contrast, Indonesia (-2.1%), Turkey (-2.5%), Taiwan (Chinese) (-5.6%), the Philippines (-6.4%), Thailand (-6.9%) and Malaysia (-10.6%) illustrated a downward trend over the same period. While the share of South Korea (+8.1 p.p.), India (+6.8 p.p.), Myanmar (+3.9 p.p.) and Japan (+2.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Thailand (-1.9 p.p.), Malaysia (-2 p.p.) and the Philippines (-2.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), South Korea ($X) and Indonesia ($X) constituted the countries with the highest levels of imports in 2022, with a combined 66% share of total imports. Taiwan (Chinese), India, the Philippines, Thailand, Turkey, Malaysia and Myanmar lagged somewhat behind, together comprising a further 15%.

Myanmar, with a CAGR of +16.9%, recorded the highest rates of growth with regard to the value of imports, in terms of 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, which is down by -11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2020 when the import price increased by 14% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2021, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+12.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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