Report Update Nov 1, 2024

Latvia - Hats and Other Headgear - Market Analysis, Forecast, Size, Trends and Insights

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Latvia: Hat And Headgear Market 2024

Hat And Headgear Market Size in Latvia

The Latvian hat and headgear market skyrocketed to $X in 2022, jumping by 193% 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). Over the period under review, consumption recorded a remarkable increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Hat And Headgear Exports

Exports from Latvia

In 2022, the amount of hats and other headgear exported from Latvia surged to X units, picking up by 461% against 2021 figures. Over the period under review, exports posted a significant increase. 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 reached $X in 2022. Overall, exports showed a prominent increase. The growth pace was the most rapid in 2020 with an increase of 144%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Estonia (X units), Lithuania (X units) and Russia (X units) were the main destinations of hat and headgear exports from Latvia, with a combined 71% share of total exports. Sweden, Germany, Iceland, Finland and Denmark lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +68.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the key foreign market for hats and other headgear exports from Latvia, comprising 41% of total exports. The second position in the ranking was held by Estonia ($X), with a 17% share of total exports. It was followed by Lithuania, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to Russia amounted to +31.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+1.7% per year) and Lithuania (+16.6% per year).

Export Prices by Country

The average hat and headgear export price stood at $X per unit in 2022, falling by -81.6% against the previous year. Overall, the export price saw a deep contraction. The pace of growth appeared the most rapid in 2021 an increase of 51% against the previous year. As a result, the export price attained the peak level of $X per unit, and then contracted notably in the following year.

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 Russia ($X per unit), while the average price for exports to Estonia ($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 Russia (-3.8%), while the prices for the other major destinations experienced a decline.

Hat And Headgear Imports

Imports into Latvia

In 2022, approx. X units of hats and other headgear were imported into Latvia; picking up by 333% against the year before. Over the period under review, imports posted a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, hat and headgear imports contracted to $X in 2022. In general, imports enjoyed a prominent increase. The growth pace was the most rapid in 2021 when imports increased by 68%. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2022, Poland (X units) constituted the largest hat and headgear supplier to Latvia, with a 34% share of total imports. Moreover, hat and headgear imports from Poland exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was held by Germany (X units), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Poland amounted to +28.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.7% per year) and Germany (+26.2% per year).

In value terms, the largest hat and headgear suppliers to Latvia were Poland ($X), Italy ($X) and Germany ($X), with a combined 52% share of total imports.

In terms of the main suppliers, Poland, with a CAGR of +15.8%, 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, declining by -78.8% against the previous year. Over the period under review, the import price showed a abrupt setback. The most prominent rate of growth was recorded in 2021 when the average import price increased by 29% against the previous year. As a result, import price attained the peak level of $X per unit, and then declined markedly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-2.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

This report provides an in-depth analysis of the hat and headgear market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 14194230 - Felt hats and other felt headgear, made from hat bodies or hoods and plateaux
Prodcom 14194250 - Hats and other headgear, plaited or made by assembling strips of any material
Prodcom 14194270 - Hats and other headgear, knitted or crocheted or made-up from lace, felt or other textile fabric in the piece (but not in strips), hair-nets of any material
Prodcom 14194300 - Other headgear (except headgear of rubber or of plastics, s afety headgear and asbestos headgear), headbands, l inings, covers, hat foundations, hat frames, peaks and chinstraps, for headgear

Country coverage:

Latvia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Latvia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023