Eastern Asia: Mannequin Market 2024

Mannequin Market Size in Eastern Asia

The East Asian mannequin market dropped to $X in 2022, falling by -5.2% against the previous year. Overall, consumption showed a slight decrease. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Mannequin Production in Eastern Asia

In value terms, mannequin production contracted slightly to $X in 2022 estimated in export price. In general, production showed a deep slump. The growth pace was the most rapid in 2019 when the production volume increased by 12% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Mannequin Exports

Exports in Eastern Asia

For the third consecutive year, Eastern Asia recorded decline in shipments abroad of mannequins, which decreased by -5.5% to X tons in 2022. Overall, exports showed a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of 22% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, mannequin exports shrank to $X in 2022. In general, exports recorded a pronounced decrease. The growth pace was the most rapid in 2016 with an increase of 41%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China dominates exports structure, accounting for X tons, which was approx. 90% of total exports in 2022. The following exporters - Hong Kong SAR (X tons), Taiwan (Chinese) (X tons), South Korea (X tons) and Japan (X tons) - together made up 10% of total exports.

From 2012 to 2022, average annual rates of growth with regard to mannequin exports from China stood at -8.2%. At the same time, Taiwan (Chinese) (+2.8%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +2.8% from 2012-2022. By contrast, Japan (-2.8%), South Korea (-5.3%) and Hong Kong SAR (-12.3%) illustrated a downward trend over the same period. While the share of Taiwan (Chinese) (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Hong Kong SAR (-2.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest mannequin supplier in Eastern Asia, comprising 79% of total exports. The second position in the ranking was held by Japan ($X), with a 7.2% share of total exports. It was followed by Hong Kong SAR, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled -3.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-3.5% per year) and Hong Kong SAR (-9.3% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, with a decrease of -3.9% against the previous year. Export price indicated a strong expansion from 2012 to 2022: its price 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, mannequin export price decreased by -9.0% against 2020 indices. The growth pace was the most rapid in 2015 an increase of 16%. Over the period under review, the export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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 Japan ($X per ton), while China ($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 Eastern Asia

For the fourth consecutive year, Eastern Asia recorded decline in purchases abroad of mannequins, which decreased by -13.4% to X tons in 2022. Overall, imports saw a abrupt slump. The most prominent rate of growth was recorded in 2013 with an increase of 12%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, mannequin imports fell to $X in 2022. In general, imports showed a slight decrease. The most prominent rate of growth was recorded in 2018 when imports increased by 8.7%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Japan represented the major importing country with an import of about X tons, which reached 38% of total imports. China (X tons) held a 23% share (based on physical terms) of total imports, which put it in second place, followed by Hong Kong SAR (19%), South Korea (13%) and Taiwan (Chinese) (5.4%).

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +4.5%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2022, with a combined 82% share of total imports.

South Korea, with a CAGR of +6.3%, recorded the highest growth rate of 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

In 2022, the import price in Eastern Asia amounted to $X per ton, growing by 1.8% against the previous year. Import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mannequin import price increased by +82.4% against 2013 indices. The most prominent rate of growth was recorded in 2020 when the import price increased by 14% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

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 ($X per ton), while Hong Kong SAR ($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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