Middle East: Hat And Headgear Market 2024

Hat And Headgear Market Size in the Middle East

The Middle Eastern hat and headgear market soared to $X in 2022, with an increase of 24% against the previous year. The market value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Hat And Headgear Production in the Middle East

In value terms, hat and headgear production declined to $X in 2022 estimated in export price. Overall, production enjoyed a significant expansion. The pace of growth appeared the most rapid in 2016 when the production volume increased by 423%. Over the period under review, production attained the maximum level at $X in 2021, and then contracted in the following year.

Hat And Headgear Exports

Exports in the Middle East

For the third year in a row, the Middle East recorded growth in shipments abroad of hats and other headgear, which increased by 48% to X units in 2022. Overall, exports saw buoyant 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 surged to $X in 2022. In general, exports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2021 when exports increased by 33%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

Turkey dominates exports structure, recording X units, which was approx. 82% of total exports in 2022. Saudi Arabia (X units) held a 6.2% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (4.8%). The following exporters - Syrian Arab Republic (X units), Qatar (X units) and Kuwait (X units) - each recorded a 5.8% share of total exports.

Exports from Turkey increased at an average annual rate of +16.1% from 2012 to 2022. At the same time, Kuwait (+33.9%), Qatar (+24.4%), Syrian Arab Republic (+22.5%), Saudi Arabia (+7.5%) and the United Arab Emirates (+3.5%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +33.9% from 2012-2022. Turkey (+12 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia and the United Arab Emirates saw its share reduced by -5.3% and -8.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest hat and headgear supplier in the Middle East, comprising 86% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 3.3% share of total exports. It was followed by Syrian Arab Republic, with a 3.3% share.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to +15.0%. In the other countries, the average annual rates were as follows: the United Arab Emirates (-0.6% per year) and Syrian Arab Republic (+8.6% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, with a decrease of -19.3% against the previous year. In general, the export price recorded a slight contraction. The growth pace was the most rapid in 2020 when the export price increased by 4.6%. Over the period under review, the export prices hit record highs at $X per unit in 2021, and then reduced sharply in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Syrian Arab Republic ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (-0.9%), while the other leaders experienced a decline in the export price figures.

Hat And Headgear Imports

Imports in the Middle East

In 2022, hat and headgear imports in the Middle East skyrocketed to X units, rising by 46% on 2021 figures. Total imports indicated modest growth from 2012 to 2022: its volume 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, imports increased by +91.2% against 2020 indices. Over the period under review, imports attained the maximum at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, hat and headgear imports rose rapidly to $X in 2022. Total imports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +32.1% against 2020 indices. The growth pace was the most rapid in 2013 when imports increased by 21% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Saudi Arabia was the major importer of hats and other headgear in the Middle East, with the volume of imports recording X units, which was approx. 43% of total imports in 2022. The United Arab Emirates (X units) took a 19% share (based on physical terms) of total imports, which put it in second place, followed by Israel (10%) and Iraq (6%). Qatar (X units), Kuwait (X units), Turkey (X units), Iran (X units), Oman (X units) and Lebanon (X units) followed a long way behind the leaders.

Imports into Saudi Arabia increased at an average annual rate of +1.4% from 2012 to 2022. At the same time, Oman (+13.9%), Qatar (+11.8%), Kuwait (+8.9%), Israel (+7.0%), Iraq (+4.0%) and Iran (+3.2%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +13.9% from 2012-2022. Lebanon and the United Arab Emirates experienced a relatively flat trend pattern. By contrast, Turkey (-7.6%) illustrated a downward trend over the same period. While the share of Israel (+4.1 p.p.), Qatar (+2.3 p.p.) and Kuwait (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United Arab Emirates (-3.9 p.p.) and Turkey (-5.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest hat and headgear importing markets in the Middle East were Saudi Arabia ($X), Israel ($X) and Turkey ($X), with a combined 65% share of total imports. The United Arab Emirates, Qatar, Kuwait, Iraq, Oman, Lebanon and Iran lagged somewhat behind, together comprising a further 32%.

In terms of the main importing countries, Qatar, with a CAGR of +14.5%, recorded 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

In 2022, the import price in the Middle East amounted to $X per unit, falling by -22.9% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the import price increased by 35%. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the import prices remained at a somewhat lower figure.

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 Turkey ($X per unit), while Iran ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+8.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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