Hat and Headgear Market Overview in Peru
Market Overview
The Peruvian hat and headgear market soared 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, the total consumption indicated tangible growth from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +% against 2016 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.
In value terms, hat and headgear production skyrocketed to $ in 2019 estimated in export prices. Overall, production, however, showed a relatively flat trend pattern. Hat and headgear production peaked at $ in 2007; however, from 2008 to 2019, production stood at a somewhat lower figure.
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, the total consumption indicated tangible growth from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +% against 2016 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.In value terms, hat and headgear production skyrocketed to $
in 2019 estimated in export prices. Overall, production, however, showed a relatively flat trend pattern. Hat and headgear production peaked at $ in 2007; however, from 2008 to 2019, production stood at a somewhat lower figure.Consumption
In 2019, after two years of growth, there was decline in consumption of hats and other headgear, when its volume decreased by -% to units. The total consumption volume increased at an average annual rate of +% over the period from 2007 to 2019; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2018 when the consumption volume increased by % y-o-y. As a result, consumption reached the peak volume of units, and then reduced slightly in the following year.
The revenue of the hat and headgear market in Peru skyrocketed to $ in 2019, jumping 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, the total consumption indicated a measured expansion from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +% against 2016 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.
% to units. The total consumption volume increased at an average annual rate of +% over the period from 2007 to 2019; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2018 when the consumption volume increased by % y-o-y. As a result, consumption reached the peak volume of units, and then reduced slightly in the following year.The revenue of the hat and headgear market in Peru skyrocketed to $
in 2019, jumping 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, the total consumption indicated a measured expansion from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +% against 2016 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.Market Forecast
Driven by increasing demand for hat and headgear in Peru, 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
Driven by a growing demand, the share of imports in total supply in Peru increased significantly over the last twelve-year period (from % to %).
% to %).Trade Balance
Peru 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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