Switzerland: Hat And Headgear Market 2024

Hat And Headgear Market Size in Switzerland

The Swiss hat and headgear market surged to $X in 2022, jumping by 17% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +108.0% against 2012 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Hat And Headgear Exports

Exports from Switzerland

In 2022, exports of hats and other headgear from Switzerland skyrocketed to X units, jumping by 205% against 2021 figures. In general, exports, however, saw a sharp setback. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, hat and headgear exports amounted to $X in 2022. Overall, exports, however, recorded a sharp slump. The most prominent rate of growth was recorded in 2020 when exports increased by 82%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units), Germany (X units) and Italy (X units) were the main destinations of hat and headgear exports from Switzerland, together comprising 48% of total exports. Singapore, South Africa, France, Spain, Chile, the UK, China, Japan, Mexico and Canada lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Chile (with a CAGR of +28.5%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the United States ($X) and Germany ($X) constituted the largest markets for hat and headgear exported from Switzerland worldwide, together accounting for 46% of total exports. France, China, Singapore, Japan, the UK, Spain, Mexico, Canada, South Africa and Chile lagged somewhat behind, together accounting for a further 32%.

In terms of the main countries of destination, Mexico, with a CAGR of +21.0%, saw the highest growth rate of 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

In 2022, the average hat and headgear export price amounted to $X per unit, with a decrease of -65.8% against the previous year. Over the period under review, the export price saw a slight shrinkage. The most prominent rate of growth was recorded in 2018 an increase of 60% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to South Africa ($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 China (+11.8%), while the prices for the other major destinations experienced more modest paces of growth.

Hat And Headgear Imports

Imports into Switzerland

In 2022, after two years of decline, there was significant growth in supplies from abroad of hats and other headgear, when their volume increased by 32% to X units. Over the period under review, imports, however, showed a relatively flat trend pattern. Imports peaked at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, hat and headgear imports rose remarkably to $X in 2022. In general, imports showed a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of 23%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest hat and headgear supplier to Switzerland, with a 58% share of total imports. Moreover, hat and headgear imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), sixfold. Germany (X units) ranked third in terms of total imports with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+30.9% per year) and Germany (-5.8% per year).

In value terms, China ($X) constituted the largest supplier of hats and other headgear to Switzerland, comprising 48% of total imports. The second position in the ranking was held by Italy ($X), with a 12% share of total imports. It was followed by Germany, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+12.6% per year) and Germany (+0.6% per year).

Import Prices by Country

The average hat and headgear import price stood at $X per unit in 2022, waning by -14.5% against the previous year. In general, the import price, however, continues to indicate strong growth. The growth pace was the most rapid in 2021 when the average import price increased by 114%. As a result, import price reached the peak level of $X per unit, and then contracted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+24.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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