Hat and Headgear Market Overview in India
Market Overview
In 2019, the Indian hat and headgear market increased by 
% to $ for the first time since 2016, thus ending a two-year declining trend. In general, consumption, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2010 with an increase of % against the previous year. Over the period under review, the market attained the peak level at $ in 2016; however, from 2017 to 2019, consumption stood at a somewhat lower figure.
In value terms, hat and headgear production surged to $ in 2019 estimated in export prices. In general, production, however, showed a relatively flat trend pattern. Hat and headgear production peaked at $ in 2016; however, from 2017 to 2019, production failed to regain the momentum.
% to $ for the first time since 2016, thus ending a two-year declining trend. In general, consumption, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2010 with an increase of % against the previous year. Over the period under review, the market attained the peak level at $ in 2016; however, from 2017 to 2019, consumption stood at a somewhat lower figure.In value terms, hat and headgear production surged to $
in 2019 estimated in export prices. In general, production, however, showed a relatively flat trend pattern. Hat and headgear production peaked at $ in 2016; however, from 2017 to 2019, production failed to regain the momentum.Consumption
In 2019, consumption of hats and other headgear decreased by -% to units for the first time since 2016, thus ending a two-year rising trend. Over the period under review, consumption, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the consumption volume increased by % year-to-year. As a result, consumption attained the peak volume of units. From 2014 to 2019, the growth of the consumption remained at a somewhat lower figure.
The size of the hat and headgear market in India skyrocketed to $ in 2019, surging by % 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). Overall, consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 with an increase of % y-o-y. Over the period under review, the market attained the peak level at $ in 2016; however, from 2017 to 2019, consumption stood at a somewhat lower figure.
% to units for the first time since 2016, thus ending a two-year rising trend. Over the period under review, consumption, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the consumption volume increased by % year-to-year. As a result, consumption attained the peak volume of units. From 2014 to 2019, the growth of the consumption remained at a somewhat lower figure.The size of the hat and headgear market in India skyrocketed to $
in 2019, surging by % 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). Overall, consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 with an increase of % y-o-y. Over the period under review, the market attained the peak level at $ in 2016; however, from 2017 to 2019, consumption stood at a somewhat lower figure.Market Forecast
Driven by increasing demand for hat and headgear in India, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to units by the end of .
% for the period from 2019 to , which is projected to bring the market volume to units by the end of .Market Structure
Over the period under review, the share of imports in terms of total hat and headgear consumption in India was relatively small in physical terms, fluctuating under an % figure. In value terms the share of imports also stood at a low figure, which means that the India hat and headgear market is largely supplied by domestic manufacturers.
% figure. In value terms the share of imports also stood at a low figure, which means that the India hat and headgear market is largely supplied by domestic manufacturers.Trade Balance
India remains a net importer of hat and headgear; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of units, which was equal to $-. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
units, which was equal to $-. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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