Kuwait: Hat And Headgear Market 2024

Hat And Headgear Market Size in Kuwait

The Kuwaiti hat and headgear market surged to $X in 2022, picking up by 39% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a buoyant expansion. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Hat And Headgear Exports

Exports from Kuwait

In 2022, the amount of hats and other headgear exported from Kuwait surged to X units, increasing by 143% compared with 2021 figures. In general, exports posted significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, hat and headgear exports shrank dramatically to $X in 2022. Overall, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 166% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X units) was the main destination for hat and headgear exports from Kuwait, accounting for a 84% share of total exports. Moreover, hat and headgear exports to Saudi Arabia exceeded the volume sent to the second major destination, Qatar (X units), more than tenfold. The third position in this ranking was held by Switzerland (X units), with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Saudi Arabia totaled +106.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+66.9% per year) and Switzerland (+762.3% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for hats and other headgear exports from Kuwait, comprising 87% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 3.8% share of total exports. It was followed by Switzerland, with a 3.4% share.

From 2012 to 2022, the average annual growth rate of value to Saudi Arabia stood at +72.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-18.2% per year) and Switzerland (+208.8% per year).

Export Prices by Country

In 2022, the average hat and headgear export price amounted to $X per unit, falling by -68.6% against the previous year. Over the period under review, the export price faced a abrupt curtailment. The pace of growth appeared the most rapid in 2019 when the average export price increased by 39%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Jordan ($X per unit), while the average price for exports to Bahrain ($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 Jordan (-4.4%), while the prices for the other major destinations experienced a decline.

Hat And Headgear Imports

Imports into Kuwait

In 2022, the amount of hats and other headgear imported into Kuwait soared to X units, with an increase of 77% against the year before. Overall, imports showed a prominent increase. The growth pace was the most rapid in 2014 with an increase of 79% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, hat and headgear imports rose notably to $X in 2022. In general, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2014 when imports increased by 116% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of hat and headgear to Kuwait, accounting for a 49% share of total imports. Moreover, hat and headgear imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), twofold. The UK (X units) ranked third in terms of total imports with a 7.8% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +23.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-4.4% per year) and the UK (+62.2% per year).

In value terms, the largest hat and headgear suppliers to Kuwait were China ($X), the United Arab Emirates ($X) and the UK ($X), together accounting for 56% of total imports. Italy, Vietnam, Turkey, India and Indonesia lagged somewhat behind, together comprising a further 20%.

Among the main suppliers, Turkey, with a CAGR of +39.4%, recorded the highest growth rate of 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

In 2022, the average hat and headgear import price amounted to $X per unit, shrinking by -36.7% against the previous year. In general, the import price showed a perceptible decline. The most prominent rate of growth was recorded in 2020 when the average import price increased by 127% against the previous year. As a result, import price attained the peak level of $X per unit. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+21.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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