Hong Kong SAR, China: Leather Sports Gloves Market 2024

Leather Sports Gloves Market Size in Hong Kong SAR, China

In 2022, after three years of growth, there was significant decline in the Hong Kong leather sports gloves market, when its value decreased by -14.2% to $X. Over the period under review, consumption, however, continues to indicate a buoyant increase. Leather sports gloves consumption peaked at $X in 2021, and then fell in the following year.

Leather Sports Gloves Production in Hong Kong SAR, China

In value terms, leather sports gloves production expanded modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2013 with an increase of 17% against the previous year. Leather sports gloves production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Leather Sports Gloves Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of leather sports gloves, mittens and mitts increased by 12% to X units, rising for the second year in a row after two years of decline. In general, exports, however, showed a deep slump. The pace of growth was the most pronounced in 2018 when exports increased by 13%. 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, leather sports gloves exports amounted to $X in 2022. Overall, exports, however, faced a deep contraction. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for leather sports gloves exports from Hong Kong SAR, accounting for a 42% share of total exports. Moreover, leather sports gloves exports to the United States exceeded the volume sent to the second major destination, South Korea (X units), threefold. China (X units) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at -18.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+7.7% per year) and China (-12.7% per year).

In value terms, the United States ($X), China ($X) and South Korea ($X) appeared to be the largest markets for leather sports gloves exported from Hong Kong SAR worldwide, with a combined 67% share of total exports.

South Korea, with a CAGR of +3.4%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average leather sports gloves export price stood at $X per unit in 2022, with a decrease of -8.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2013 when the average export price increased by 24%. Over the period under review, the average export prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Switzerland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+16.8%), while the prices for the other major destinations experienced more modest paces of growth.

Leather Sports Gloves Imports

Imports into Hong Kong SAR, China

For the tenth consecutive year, Hong Kong SAR recorded decline in overseas purchases of leather sports gloves, mittens and mitts, which decreased by -5.3% to X units in 2022. Overall, imports faced a abrupt descent. The smallest decline of -2.8% was in 2021. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, leather sports gloves imports contracted to $X in 2022. In general, imports saw a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of 16%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), Indonesia (X units) and Thailand (X units) were the main suppliers of leather sports gloves imports to Hong Kong SAR, together comprising 47% of total imports. Japan, India, Vietnam, Pakistan and Cambodia lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Cambodia (with a CAGR of +191.7%), while imports for the other leaders experienced mixed trend patterns.

In value terms, China ($X), Japan ($X) and Indonesia ($X) constituted the largest leather sports gloves suppliers to Hong Kong SAR, with a combined 40% share of total imports. Thailand, Vietnam, India, Cambodia and Pakistan lagged somewhat behind, together comprising a further 31%.

In terms of the main suppliers, Cambodia, with a CAGR of +218.2%, 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 more modest paces of growth.

Import Prices by Country

The average leather sports gloves import price stood at $X per unit in 2022, reducing by -5.2% against the previous year. In general, the import price, however, posted prominent growth. The growth pace was the most rapid in 2020 an increase of 63%. The import price peaked at $X per unit in 2021, and then reduced in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Pakistan ($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 (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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