Belgium: Hat And Headgear Market 2024

Hat And Headgear Market Size in Belgium

In 2022, the Belgian hat and headgear market increased by 483% to $X, rising for the second year in a row after two years of decline. In general, consumption recorded a significant increase. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Hat And Headgear Production in Belgium

In value terms, hat and headgear production declined slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when the production volume increased by 19%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Hat And Headgear Exports

Exports from Belgium

In 2022, approx. X units of hats and other headgear were exported from Belgium; standing approx. at 2021. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 846%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, hat and headgear exports declined to $X in 2022. Over the period under review, exports enjoyed moderate growth. The growth pace was the most rapid in 2020 with an increase of 883% against the previous year. The exports peaked at $X in 2021, and then contracted slightly in the following year.

Exports by Country

Germany (X units), France (X units) and Italy (X units) were the main destinations of hat and headgear exports from Belgium, with a combined 59% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +10.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hat and headgear exported from Belgium were Germany ($X), France ($X) and the Netherlands ($X), together accounting for 53% of total exports.

Among the main countries of destination, Germany, with a CAGR of +11.0%, saw the highest rates of growth with regard to 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 average hat and headgear export price stood at $X per unit in 2022, approximately reflecting the previous year. In general, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hat and headgear export price increased by +7.2% against 2019 indices. The growth pace was the most rapid in 2016 when the average export price increased by 22%. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Spain ($X per unit) and Austria ($X per unit), while the average price for exports to the UK ($X per unit) and Germany ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Hat And Headgear Imports

Imports into Belgium

Hat and headgear imports into Belgium soared to X units in 2022, growing by 384% against 2021. Overall, imports showed a significant 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 skyrocketed to $X in 2022. Over the period under review, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 176% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X units), France (X units) and the Netherlands (X units) were the main suppliers of hat and headgear imports to Belgium, with a combined 73% share of total imports. Germany, Bangladesh, Myanmar and Spain lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +72.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of hats and other headgear to Belgium, comprising 38% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 17% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+14.4% per year) and Germany (+14.8% per year).

Import Prices by Country

In 2022, the average hat and headgear import price amounted to $X per unit, declining by -76.2% against the previous year. Over the period under review, the import price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2015 when the average import price increased by 49% against the previous year. The import price peaked at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for France ($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 Netherlands (-15.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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