Republic of Korea: Baby Garment Market 2025

Baby Garment Market Size in Republic of Korea

The South Korean baby garment market expanded modestly to $X in 2022, rising by 2% against the previous year. Over the period under review, consumption, however, posted a buoyant expansion. Baby garment consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Baby Garment Production in Republic of Korea

In value terms, baby garment production rose to $X in 2022 estimated in export price. In general, production saw a resilient expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by 79%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Baby Garment Exports

Exports from Republic of Korea

In 2022, the amount of babies’ garments and clothing accessories (knitted or crocheted) exported from South Korea declined rapidly to X units, falling by -25.1% compared with the previous year's figure. Overall, exports saw a sharp slump. The most prominent rate of growth was recorded in 2015 when exports increased by 4.5%. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, baby garment exports fell to $X in 2022. Over the period under review, exports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2015 when exports increased by 8%. Over the period under review, the exports attained the maximum 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 baby garment exports from South Korea, with a 43% share of total exports. Moreover, baby garment exports to the United States exceeded the volume sent to the second major destination, China (X units), sixfold. Sweden (X units) ranked third in terms of total exports with a 7.4% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to -15.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-18.1% per year) and Sweden (-13.7% per year).

In value terms, the United States ($X) remains the key foreign market for babies’ garments and clothing accessories (knitted or crocheted) exports from South Korea, comprising 33% of total exports. The second position in the ranking was taken by China ($X), with a 15% share of total exports. It was followed by Sweden, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at -12.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-10.9% per year) and Sweden (-10.0% per year).

Export Prices by Country

In 2022, the average baby garment export price amounted to $X per unit, increasing by 21% against the previous year. Overall, export price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, baby garment export price increased by +108.9% against 2013 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Taiwan (Chinese) ($X per unit), while the average price for exports to Vietnam ($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 Kazakhstan (+64.1%), while the prices for the other major destinations experienced more modest paces of growth.

Baby Garment Imports

Imports into Republic of Korea

Baby garment imports into South Korea fell sharply to X units in 2022, with a decrease of -15.4% against the previous year's figure. Over the period under review, imports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 101% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, baby garment imports expanded notably to $X in 2022. In general, imports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2021 when imports increased by 80% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Vietnam (X units), China (X units) and Indonesia (X units) were the main suppliers of baby garment imports to South Korea, with a combined 92% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +33.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest baby garment suppliers to South Korea were Vietnam ($X), China ($X) and Indonesia ($X), with a combined 87% share of total imports.

Vietnam, with a CAGR of +33.8%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average baby garment import price stood at $X per unit in 2022, growing by 25% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Indonesia ($X per unit) and Bangladesh ($X per unit), while the price for Vietnam ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform