Hat and Headgear Market Overview in Thailand
Market Overview
For the third year in a row, the Thai hat and headgear market recorded growth in sales value, which increased by 
% to $ in 2019. 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 pace of growth was the most pronounced in 2018 when the market value increased by % y-o-y. Hat and headgear consumption peaked in 2019 and is expected to retain growth in the immediate term.
In value terms, hat and headgear production surged to $ in 2019 estimated in export prices. Overall, the total production indicated mild growth 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, production increased by +% against 2016 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by % against the previous year. Hat and headgear production peaked in 2019 and is expected to retain growth in years to come.
% to $ in 2019. 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 pace of growth was the most pronounced in 2018 when the market value increased by % y-o-y. Hat and headgear consumption peaked in 2019 and is expected to retain growth in the immediate term.In value terms, hat and headgear production surged to $
in 2019 estimated in export prices. Overall, the total production indicated mild growth 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, production increased by +% against 2016 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by % against the previous year. Hat and headgear production peaked in 2019 and is expected to retain growth in years to come.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. The total consumption volume increased at an average annual rate of +% from 2007 to 2019; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2018 with an increase of % year-to-year. As a result, consumption reached the peak volume of units, and then shrank slightly in the following year.
The size of the hat and headgear market in Thailand rose significantly to $ in 2019, picking up 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 in certain years. The growth pace was the most rapid in 2018 with an increase of % against the previous year. Over the period under review, the market reached the peak level in 2019 and is expected to retain growth in the near future.
% to units for the first time since 2016, thus ending a two-year rising trend. The total consumption volume increased at an average annual rate of +% from 2007 to 2019; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2018 with an increase of % year-to-year. As a result, consumption reached the peak volume of units, and then shrank slightly in the following year.The size of the hat and headgear market in Thailand rose significantly to $
in 2019, picking up 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 in certain years. The growth pace was the most rapid in 2018 with an increase of % against the previous year. Over the period under review, the market reached the peak level in 2019 and is expected to retain growth in the near future.Market Forecast
Driven by increasing demand for hat and headgear in Thailand, 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 Thailand increased significantly over the last twelve-year period (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
Those figures reflect the fact that neither imports nor exports don’t dominate the trade balance, and the country may export not only the product manufactured domestically, but also re-export some previously imported goods.
Download XLSX
Download all the data in the form of a report