Hat and Headgear Market Overview in Bangladesh
Market Overview
The Bangladeshi hat and headgear market expanded markedly 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). In general, consumption saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2012 with an increase of % year-to-year. Over the period under review, the market hit record highs at $ in 2017; however, from 2018 to 2019, consumption remained at a lower figure.
In value terms, hat and headgear production reached $ in 2019 estimated in export prices. The total output value increased at an average annual rate of +% from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of % y-o-y. Over the period under review, production reached the peak level at $ in 2017; however, from 2018 to 2019, production stood at a somewhat lower figure.
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). In general, consumption saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2012 with an increase of % year-to-year. Over the period under review, the market hit record highs at $ in 2017; however, from 2018 to 2019, consumption remained at a lower figure.In value terms, hat and headgear production reached $
in 2019 estimated in export prices. The total output value increased at an average annual rate of +% from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of % y-o-y. Over the period under review, production reached the peak level at $ in 2017; however, from 2018 to 2019, production stood at a somewhat lower figure.Consumption
In 2019, consumption of hats and other headgear decreased by -% to units, falling for the third consecutive year after two years of growth. Over the period under review, consumption continues to indicate a slight curtailment. The pace of growth was the most pronounced in 2015 when the consumption volume increased by % year-to-year. Hat and headgear consumption peaked at units in 2007; however, from 2008 to 2019, consumption failed to regain the momentum.
The size of the hat and headgear market in Bangladesh expanded remarkably to $ in 2019, with an increase of % 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 showed a relatively flat trend pattern. The growth pace was the most rapid in 2012 with an increase of % year-to-year. Over the period under review, the market reached the peak level at $ in 2017; however, from 2018 to 2019, consumption remained at a lower figure.
% to units, falling for the third consecutive year after two years of growth. Over the period under review, consumption continues to indicate a slight curtailment. The pace of growth was the most pronounced in 2015 when the consumption volume increased by % year-to-year. Hat and headgear consumption peaked at units in 2007; however, from 2008 to 2019, consumption failed to regain the momentum.The size of the hat and headgear market in Bangladesh expanded remarkably to $
in 2019, with an increase of % 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 showed a relatively flat trend pattern. The growth pace was the most rapid in 2012 with an increase of % year-to-year. Over the period under review, the market reached the peak level at $ in 2017; however, from 2018 to 2019, consumption remained at a lower figure.Market Forecast
Depressed by shrinking demand for hat and headgear in Bangladesh, the market is expected to continue its downward consumption trend over the next decade. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from 2019 to , which is projected to depress the market volume to units by the end of .
% for the period from 2019 to , which is projected to depress the market volume to units by the end of .Market Structure
Driven by a growing demand, the share of imports in total supply in Bangladesh increased significantly over the last twelve years (from % to %). Total import supply of hat and headgear is expected to rise, though it will be moderately impacted by price increases.
% to %). Total import supply of hat and headgear is expected to rise, though it will be moderately impacted by price increases.Trade Balance
This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
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