Southern Asia: Mannequin Market 2024

Mannequin Market Size in Southern Asia

The South Asian mannequin market declined to $X in 2022, which is down by -14.8% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2021, and then reduced in the following year.

Mannequin Production in Southern Asia

In value terms, mannequin production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 29%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Mannequin Exports

Exports in Southern Asia

In 2022, shipments abroad of mannequins increased by 49% to X tons, rising for the third consecutive year after three years of decline. Total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +9.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +57.6% against 2019 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 72% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, mannequin exports amounted to $X in 2022. The total export value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 41%. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, India (X tons) and Bangladesh (X tons) were the major exporters of mannequins in Southern Asia, together accounting for approx. 82% of total exports. It was distantly followed by Pakistan (X tons), creating a 16% share of total exports. Sri Lanka (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of +46.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X) remains the largest mannequin supplier in Southern Asia, comprising 77% of total exports. The second position in the ranking was held by Bangladesh ($X), with an 18% share of total exports. It was followed by Pakistan, with a 3% share.

In India, mannequin exports expanded at an average annual rate of +1.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bangladesh (+40.6% per year) and Pakistan (+31.3% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, falling by -23.7% against the previous year. Overall, the export price recorded a pronounced decrease. The most prominent rate of growth was recorded in 2018 when the export price increased by 14% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+4.7%), while the other leaders experienced a decline in the export price figures.

Mannequin Imports

Imports in Southern Asia

In 2022, the amount of mannequins imported in Southern Asia shrank sharply to X tons, declining by -27.5% compared with 2021. Over the period under review, imports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 86%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, mannequin imports shrank markedly to $X in 2022. Overall, imports, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2021 when imports increased by 223%. As a result, imports attained the peak of $X, and then shrank remarkably in the following year.

Imports by Country

India was the key importing country with an import of around X tons, which reached 54% of total imports. Pakistan (X tons) held the second position in the ranking, distantly followed by Bangladesh (X tons). All these countries together took near 41% share of total imports. The following importers - Afghanistan (X tons) and Sri Lanka (X tons) - each resulted at a 3.6% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Bangladesh (with a CAGR of +19.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constitutes the largest market for imported mannequins in Southern Asia, comprising 76% of total imports. The second position in the ranking was held by Pakistan ($X), with an 18% share of total imports. It was followed by Bangladesh, with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India stood at +9.5%. In the other countries, the average annual rates were as follows: Pakistan (+5.1% per year) and Bangladesh (+23.8% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, dropping by -20.8% against the previous year. Import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mannequin import price increased by +70.0% against 2018 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by 74% against the previous year. As a result, import price attained the peak level of $X per ton, and then shrank sharply in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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