Eastern Asia: Umbrella And Walking-Stick Market 2024

Umbrella And Walking-Stick Market Size in Eastern Asia

The East Asian umbrella and walking-stick market stood at $X in 2022, with an increase of 10% against the previous year. In general, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Umbrella And Walking-Stick Production in Eastern Asia

In value terms, umbrella and walking-stick production declined slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2021 with an increase of 5.5%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Umbrella And Walking-Stick Exports

Exports in Eastern Asia

In 2022, overseas shipments of umbrellas and walking-sticks increased by 99% to X units, rising for the second year in a row after eight years of decline. Overall, exports, however, continue to indicate a perceptible decline. The volume of export peaked 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 surged to $X in 2022. The total export value increased at an average annual rate of +1.7% 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 28% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

China (X units) represented roughly 99% of total exports in 2022.

China was also the fastest-growing in terms of the umbrellas and walking-sticks exports, with a CAGR of -2.0% from 2012 to 2022. China (+3.6 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest umbrella and walking-stick supplier in Eastern Asia.

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

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, with a decrease of -40.4% against the previous year. Over the period under review, the export price, however, saw a tangible expansion. The pace of growth appeared the most rapid in 2018 an increase of 63%. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +4.2% per year.

Umbrella And Walking-Stick Imports

Imports in Eastern Asia

In 2022, after two years of decline, there was significant growth in purchases abroad of umbrellas and walking-sticks, when their volume increased by 17% to X units. Overall, imports, however, saw a perceptible decrease. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, umbrella and walking-stick imports rose significantly to $X in 2022. Over the period under review, imports, however, recorded a noticeable reduction. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Japan represented the largest importer of umbrellas and walking-sticks in Eastern Asia, with the volume of imports amounting to X units, which was approx. 59% of total imports in 2022. South Korea (X units) held the second position in the ranking, distantly followed by Taiwan (Chinese) (X units). All these countries together held near 38% share of total imports. Hong Kong SAR (X units) followed a long way behind the leaders.

Imports into Japan decreased at an average annual rate of -3.4% from 2012 to 2022. At the same time, South Korea (+2.5%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +2.5% from 2012-2022. By contrast, Taiwan (Chinese) (-5.6%) and Hong Kong SAR (-24.0%) illustrated a downward trend over the same period. While the share of South Korea (+14 p.p.) and Japan (+5.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Hong Kong SAR (-18.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest umbrella and walking-stick importing markets in Eastern Asia were Japan ($X), South Korea ($X) and Taiwan (Chinese) ($X), together comprising 96% of total imports.

Among the main importing countries, South Korea, with a CAGR of +3.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, with a decrease of -6% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2021 an increase of 15%. As a result, import price reached the peak level of $X per unit, and then contracted in the following year.

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 Hong Kong SAR ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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