Hat and Headgear Market Overview in the USA
Market Overview
In 2019, the U.S. hat and headgear market increased by 
% to $, rising for the second consecutive year after two years of decline. In general, consumption continues to indicate 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 reached the peak level at $ in 2015; however, from 2016 to 2019, consumption remained at a lower figure.
In value terms, hat and headgear production declined modestly to $ in 2019. In general, production continues to indicate a mild decline. The most prominent rate of growth was recorded in 2015 with an increase of % against the previous year. Hat and headgear production peaked at $ in 2011; however, from 2012 to 2019, production failed to regain the momentum.
% to $, rising for the second consecutive year after two years of decline. In general, consumption continues to indicate 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 reached the peak level at $ in 2015; however, from 2016 to 2019, consumption remained at a lower figure.In value terms, hat and headgear production declined modestly to $
in 2019. In general, production continues to indicate a mild decline. The most prominent rate of growth was recorded in 2015 with an increase of % against the previous year. Hat and headgear production peaked at $ in 2011; however, from 2012 to 2019, production failed to regain the momentum.Consumption
In 2019, the amount of hats and other headgear consumed in the U.S. dropped to units, reducing by -% against 2018. In general, consumption showed a slight descent. The pace of growth was the most pronounced in 2010 when the consumption volume increased by % y-o-y. Over the period under review, consumption reached the maximum volume at units in 2015; however, from 2016 to 2019, consumption failed to regain the momentum.
The revenue of the hat and headgear market in the U.S. amounted to $ in 2019, rising 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 continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2010 with an increase of % y-o-y. Over the period under review, the market reached the peak level at $ in 2015; however, from 2016 to 2019, consumption remained at a lower figure.
units, reducing by -% against 2018. In general, consumption showed a slight descent. The pace of growth was the most pronounced in 2010 when the consumption volume increased by % y-o-y. Over the period under review, consumption reached the maximum volume at units in 2015; however, from 2016 to 2019, consumption failed to regain the momentum.The revenue of the hat and headgear market in the U.S. amounted to $
in 2019, rising 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 continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2010 with an increase of % y-o-y. Over the period under review, the market reached the peak level at $ in 2015; however, from 2016 to 2019, consumption remained at a lower figure.Market Forecast
Driven by rising demand for hat and headgear in the U.S., the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, 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
Hat and headgear market in the U.S. consists almost entirely of imported products.
Trade Balance
The U.S. 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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