Malaysia: Umbrella And Walking-Stick Market 2024

Umbrella And Walking-Stick Market Size in Malaysia

The Malaysian umbrella and walking-stick market reduced to $X in 2022, which is down by -5.4% 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 drastic downturn. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Umbrella And Walking-Stick Exports

Exports from Malaysia

In 2022, after three years of growth, there was significant decline in overseas shipments of umbrellas and walking-sticks, when their volume decreased by -27.9% to X units. Over the period under review, exports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 126% against the previous year. The exports peaked at X units in 2021, and then reduced remarkably in the following year.

In value terms, umbrella and walking-stick exports shrank to $X in 2022. In general, exports, however, saw a buoyant expansion. The growth pace was the most rapid in 2017 when exports increased by 204% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then dropped in the following year.

Exports by Country

Turkey (X units) was the main destination for umbrella and walking-stick exports from Malaysia, accounting for a 48% share of total exports. Moreover, umbrella and walking-stick exports to Turkey exceeded the volume sent to the second major destination, Singapore (X units), twofold. The third position in this ranking was held by the United States (X units), with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Turkey totaled +82.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+3.1% per year) and the United States (+42.1% per year).

In value terms, Turkey ($X) remains the key foreign market for umbrellas and walking-sticks exports from Malaysia, comprising 47% of total exports. The second position in the ranking was taken by Singapore ($X), with a 21% share of total exports. It was followed by Australia, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey amounted to +50.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+5.2% per year) and Australia (+35.1% per year).

Export Prices by Country

In 2022, the average umbrella and walking-stick export price amounted to $X per unit, rising by 20% against the previous year. In general, the export price recorded a notable increase. The pace of growth appeared the most rapid in 2016 an increase of 81%. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to Spain ($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 Australia (+13.7%), while the prices for the other major destinations experienced more modest paces of growth.

Umbrella And Walking-Stick Imports

Imports into Malaysia

In 2022, approx. X units of umbrellas and walking-sticks were imported into Malaysia; which is down by -4.3% against the previous year's figure. In general, imports saw a deep downturn. The pace of growth appeared the most rapid in 2015 with an increase of 80% against the previous year. Over the period under review, imports attained the peak figure at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, umbrella and walking-stick imports contracted to $X in 2022. Overall, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2013 when imports increased by 109%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Myanmar (X units), China (X units) and India (X units) were the main suppliers of umbrella and walking-stick imports to Malaysia, with a combined 96% share of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +163.1%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest umbrella and walking-stick suppliers to Malaysia were China ($X), Myanmar ($X) and India ($X), with a combined 87% share of total imports.

Among the main suppliers, India, with a CAGR of +111.1%, 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 mixed trend patterns.

Import Prices by Country

The average umbrella and walking-stick import price stood at $X per unit in 2022, which is down by -6.6% against the previous year. Overall, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, umbrella and walking-stick import price increased by +39.4% against 2019 indices. The growth pace was the most rapid in 2014 when the average import price increased by 30% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a lower figure.

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 India ($X per unit), while the price for Myanmar ($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 (+4.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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