South-Eastern Asia: Hat And Headgear Market 2025

Hat And Headgear Market Size in South-Eastern Asia

The Southeast Asian hat and headgear market dropped remarkably to $X in 2022, falling by -71.5% against the previous year. Overall, consumption continues to indicate a drastic downturn. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Hat And Headgear Production in South-Eastern Asia

In value terms, hat and headgear production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2021 with an increase of 13% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Hat And Headgear Exports

Exports in South-Eastern Asia

In 2022, hat and headgear exports in South-Eastern Asia soared to X units, with an increase of 184% compared with the previous year. Over the period under review, exports continue to indicate a remarkable increase. 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 expanded rapidly to $X in 2022. Total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -7.3% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 13% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Vietnam (X units) was the largest exporter of hats and other headgear, making up 65% of total exports. It was distantly followed by Thailand (X units), Indonesia (X units) and Cambodia (X units), together constituting a 30% share of total exports. Malaysia (X units) and Singapore (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to hat and headgear exports from Vietnam stood at +18.5%. At the same time, Singapore (+27.3%), Thailand (+26.1%), Cambodia (+24.5%), Indonesia (+17.5%) and Malaysia (+17.0%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +27.3% from 2012-2022. From 2012 to 2022, the share of Thailand and Cambodia increased by +5.9 and +2.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest hat and headgear supplier in South-Eastern Asia, comprising 71% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 6.8% share of total exports. It was followed by Cambodia, with a 6.7% share.

In Vietnam, hat and headgear exports increased at an average annual rate of +6.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Indonesia (+9.6% per year) and Cambodia (+15.5% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per unit, declining by -63% against the previous year. Over the period under review, the export price showed a abrupt descent. The growth pace was the most rapid in 2019 an increase of 13% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (-1.4%), while the other leaders experienced a decline in the export price figures.

Hat And Headgear Imports

Imports in South-Eastern Asia

In 2022, imports of hats and other headgear in South-Eastern Asia skyrocketed to X units, increasing by 137% compared with the previous year's figure. Overall, imports posted strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, hat and headgear imports skyrocketed to $X in 2022. In general, imports enjoyed strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the three major importers of hats and other headgear, namely Malaysia, Myanmar and Singapore, represented more than half of total import. Thailand (X units) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (10%), Vietnam (8%) and the Philippines (6.3%).

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +55.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported hats and other headgear in South-Eastern Asia, comprising 47% of total imports. The second position in the ranking was held by Vietnam ($X), with a 14% share of total imports. It was followed by Thailand, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore stood at +23.6%. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (+17.0% per year) and Thailand (+14.0% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2022, which is down by -38.3% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 22% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+3.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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