Republic of Korea: Baby Clothes Market 2024

Baby Clothes Market Size in Republic of Korea

The South Korean baby clothes market amounted to $X in 2022, rising by 5.1% against the previous year. Over the period under review, consumption, however, enjoyed a measured expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Baby Clothes Production in Republic of Korea

In value terms, baby clothes production reached $X in 2022 estimated in export price. Overall, production saw a tangible expansion. The most prominent rate of growth was recorded in 2020 with an increase of 63%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Baby Clothes Exports

Exports from Republic of Korea

Baby clothes exports from South Korea fell markedly to X tons in 2022, waning by -58% on 2021. Overall, exports faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 198%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, baby clothes exports contracted to $X in 2022. Over the period under review, exports showed a deep downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 110% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), China (X tons) and Australia (X tons) were the main destinations of baby clothes exports from South Korea, together comprising 40% of total exports. Poland, the UK, Singapore, Germany, Japan, Belgium, the Netherlands, Canada, France and Hong Kong SAR lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +79.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for baby clothes exported from South Korea were the United States ($X), China ($X) and the UK ($X), with a combined 53% share of total exports. Germany, Poland, Belgium, Japan, Australia, Singapore, France, Hong Kong SAR, the Netherlands and Canada lagged somewhat behind, together accounting for a further 28%.

Poland, with a CAGR of +71.2%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average baby clothes export price stood at $X per ton in 2022, surging by 106% against the previous year. Over the period under review, the export price continues to indicate buoyant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+13.8%), while the prices for the other major destinations experienced more modest paces of growth.

Baby Clothes Imports

Imports into Republic of Korea

In 2022, the amount of babies clothing and accessories (not knitted or crocheted) imported into South Korea shrank notably to X tons, waning by -35.1% against 2021 figures. Overall, imports showed a mild curtailment. The growth pace was the most rapid in 2013 when imports increased by 61% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, baby clothes imports reduced slightly to $X in 2022. In general, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 +30.2% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 71% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Myanmar (X tons) was the main baby clothes supplier to South Korea, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Myanmar amounted to +65.2%.

In value terms, Myanmar ($X) constituted the largest supplier of babies clothing and accessories (not knitted or crocheted) to South Korea.

From 2012 to 2022, the average annual rate of growth in terms of value from Myanmar stood at +70.2%.

Import Prices by Country

In 2022, the average baby clothes import price amounted to $X per ton, growing by 53% against the previous year. Overall, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, baby clothes import price increased by +69.6% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Myanmar.

From 2012 to 2022, the rate of growth in terms of prices for Myanmar amounted to +3.0% per year.

Source: IndexBox Platform

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