Hat and Headgear Market Overview in South Korea
In value terms, hat and headgear production expanded notably to $ in 2019 estimated in export prices. Overall, production saw a slight descent. The most prominent rate of growth was recorded in 2008 when the production volume increased by % against the previous year. As a result, production reached the peak level of $. From 2009 to 2019, production growth failed to regain the momentum.
The size of the hat and headgear market in South Korea rose modestly to $ in 2019, growing 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). The market value increased at an average annual rate of +% over the period from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when the market value increased by % y-o-y. Over the period under review, the market hit record highs in 2019 and is expected to retain growth in the near future.