United Kingdom: Braces And Garters Market 2024

Braces And Garters Market Size in the UK

In 2022, the UK braces and garters market decreased by -1.1% to $X, falling for the second year in a row after three years of growth. Overall, consumption recorded a slight increase. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Braces And Garters Production in the UK

In value terms, braces and garters production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 33% against the previous year. Braces and garters production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Braces And Garters Exports

Exports from the UK

In 2022, approx. X units of braces, suspenders and garters were exported from the UK; growing by 83% compared with the previous year. Over the period under review, exports, however, continue to indicate a abrupt setback. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, braces and garters exports skyrocketed to $X in 2022. In general, total exports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for braces and garters exports from the UK, with a 47% share of total exports. Moreover, braces and garters exports to the United States exceeded the volume sent to the second major destination, France (X units), fivefold. Germany (X units) ranked third in terms of total exports with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +30.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-3.1% per year) and Germany (-7.0% per year).

In value terms, the United States ($X) remains the key foreign market for braces, suspenders and garters exports from the UK, comprising 65% of total exports. The second position in the ranking was held by Germany ($X), with a 5.5% share of total exports. It was followed by France, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +32.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-9.6% per year) and France (-5.8% per year).

Export Prices by Country

The average braces and garters export price stood at $X per unit in 2022, increasing by 24% against the previous year. Over the period under review, the export price recorded a prominent increase. The most prominent rate of growth was recorded in 2018 an increase of 72%. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Kuwait ($X per unit), while the average price for exports to Pakistan (less than $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 Italy (+19.1%), while the prices for the other major destinations experienced more modest paces of growth.

Braces And Garters Imports

Imports into the UK

In 2022, purchases abroad of braces, suspenders and garters was finally on the rise to reach X units for the first time since 2017, thus ending a four-year declining trend. Over the period under review, imports, however, continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 20% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, braces and garters imports contracted modestly to $X in 2022. Overall, imports, however, recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 10% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest braces and garters supplier to the UK, accounting for a 65% share of total imports. Moreover, braces and garters imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), eightfold. The third position in this ranking was taken by Bangladesh (X units), with a 4.5% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+24.3% per year) and Bangladesh (+6.1% per year).

In value terms, China ($X) constituted the largest supplier of braces, suspenders and garters to the UK, comprising 58% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 6.2% share of total imports. It was followed by Bangladesh, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+55.5% per year) and Bangladesh (+9.2% per year).

Import Prices by Country

In 2022, the average braces and garters import price amounted to $X per unit, reducing by -15.6% against the previous year. Over the period under review, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, braces and garters import price decreased by -17.3% against 2020 indices. The growth pace was the most rapid in 2015 an increase of 69% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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 Vietnam ($X per unit), while the price for Romania ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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