Republic of Korea: Market for Brassieres, Girdles And Corsets 2024

Market Size for Brassieres, Girdles And Corsets in Republic of Korea

The South Korean brassiere, girdle and corset market skyrocketed to $X in 2021, growing by 67% against the previous year. In general, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Brassieres, Girdles And Corsets in Republic of Korea

In value terms, brassiere, girdle and corset production soared to $X in 2021 estimated in export price. In general, production, however, showed a deep downturn. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Brassieres, Girdles And Corsets

Exports from Republic of Korea

In 2021, exports of brassieres, girdles and corsets from South Korea soared to X tons, with an increase of 20% against 2020. In general, exports, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2017 with an increase of 43%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, brassiere, girdle and corset exports surged to $X in 2021. Overall, exports, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2017 when exports increased by 64% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Japan (X tons) and China (X tons) were the main destinations of brassiere, girdle and corset exports from South Korea, with a combined 55% share of total exports. Thailand, the Philippines, Hong Kong SAR, Ukraine, Australia, Mongolia, Russia and Vietnam lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2021, the biggest increases were recorded for Australia (with a CAGR of +49.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and the United States ($X) constituted the largest markets for brassiere, girdle and corset exported from South Korea worldwide, with a combined 71% share of total exports. These countries were followed by Hong Kong SAR, Mongolia, the Philippines, Ukraine, Thailand, Australia, Vietnam and Russia, which together accounted for a further 23%.

In terms of the main countries of destination, Australia, with a CAGR of +57.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average brassiere, girdle and corset export price stood at $X per ton in 2021, rising by 32% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. 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 external markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Libya (+405.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Brassieres, Girdles And Corsets

Imports into Republic of Korea

In 2021, the amount of brassieres, girdles and corsets imported into South Korea surged to X tons, growing by 48% compared with the year before. Over the period under review, imports continue to indicate strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, brassiere, girdle and corset imports soared to $X in 2021. Overall, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 46% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of brassiere, girdle and corset to South Korea, with a 66% share of total imports. Moreover, brassiere, girdle and corset imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), sixfold. The third position in this ranking was held by Indonesia (X tons), with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+49.3% per year) and Indonesia (+29.7% per year).

In value terms, China ($X) constituted the largest supplier of brassieres, girdles and corsets to South Korea, comprising 56% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 17% share of total imports. It was followed by Indonesia, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+45.9% per year) and Indonesia (+27.3% per year).

Import Prices by Country

The average brassiere, girdle and corset import price stood at $X per ton in 2021, with a decrease of -2.6% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 19%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Vietnam ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+1.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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