Knitted Fabric Market

The global market for knitted or crocheted fabrics is expected to see a consistent increase in consumption over the next eight years. Market performance is forecasted to expand at a CAGR of +3.7% in volume and +5.0% in value from 2022 to 2030, reaching 13M tons and $86.5B respectively. In 2022, China led in both consumption and production of knitted fabrics. Vietnam, Bangladesh, and India were also significant players in the market. Import and export prices and trends varied amongst countries and types of knitted fabrics, with consistent growth in global exports expected in the immediate term.

Market Forecast

Driven by increasing demand for knitted or crocheted fabrics worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.7% for the period from 2022 to 2030, which is projected to bring the market volume to 13M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.0% for the period from 2022 to 2030, which is projected to bring the market value to $86.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Knitted Or Crocheted Fabrics

In 2022, global consumption of knitted or crocheted fabrics stood at 9.5M tons, surging by 5.5% compared with the year before. The total consumption volume increased at an average annual rate of +4.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked in 2022 and is likely to see gradual growth in years to come.

The global knitted fabric market revenue rose sharply to $58.5B in 2022, increasing by 6.8% 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 +3.2% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, the global market attained the maximum level in 2022 and is likely to see steady growth in the immediate term.

Consumption By Country

China (1.8M tons) constituted the country with the largest volume of knitted fabric consumption, accounting for 19% of total volume. Moreover, knitted fabric consumption in China exceeded the figures recorded by the second-largest consumer, Bangladesh (755K tons), twofold. Vietnam (624K tons) ranked third in terms of total consumption with a 6.5% share.

From 2012 to 2022, the average annual growth rate of volume in China stood at +4.4%. In the other countries, the average annual rates were as follows: Bangladesh (+10.0% per year) and Vietnam (+5.7% per year).

In value terms, China ($9B), Vietnam ($5.6B) and Brazil ($4.1B) constituted the countries with the highest levels of market value in 2022, together comprising 32% of the global market. Turkey, Cambodia, Bangladesh, Indonesia, Italy, Myanmar, Russia, the United States, India and Pakistan lagged somewhat behind, together accounting for a further 27%.

Myanmar, with a CAGR of +28.3%, saw the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of knitted fabric per capita consumption was registered in Cambodia (20 kg per person), followed by Vietnam (6.3 kg per person), Turkey (5.5 kg per person) and Bangladesh (4.5 kg per person), while the world average per capita consumption of knitted fabric was estimated at 1.2 kg per person.

From 2012 to 2022, the average annual growth rate of the knitted fabric per capita consumption in Cambodia stood at +6.7%. In the other countries, the average annual rates were as follows: Vietnam (+4.7% per year) and Turkey (+2.4% per year).

Production

World Production of Knitted Or Crocheted Fabrics

In 2022, global production of knitted or crocheted fabrics dropped modestly to 8.3M tons, stabilizing at the previous year. The total output volume increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 13%. Global production peaked at 8.6M tons in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

In value terms, knitted fabric production contracted to $51.1B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 13% against the previous year. Over the period under review, global production attained the peak level at $56.6B in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Production By Country

China (4.2M tons) constituted the country with the largest volume of knitted fabric production, accounting for 51% of total volume. Moreover, knitted fabric production in China exceeded the figures recorded by the second-largest producer, Turkey (668K tons), sixfold. Bangladesh (433K tons) ranked third in terms of total production with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +6.5%. The remaining producing countries recorded the following average annual rates of production growth: Turkey (+3.0% per year) and Bangladesh (+7.2% per year).

Imports

World Imports of Knitted Or Crocheted Fabrics

In 2022, global imports of knitted or crocheted fabrics rose notably to 6M tons, growing by 11% against the year before. Over the period under review, total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +26.0% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 14%. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, knitted fabric imports skyrocketed to $38.3B in 2022. The total import value increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, Vietnam (809K tons), distantly followed by Cambodia (360K tons), Bangladesh (344K tons) and India (326K tons) represented the largest importers of knitted or crocheted fabrics, together committing 31% of total imports. The following importers - Russia (221K tons), Indonesia (216K tons), the United States (208K tons), Myanmar (166K tons), Brazil (137K tons), Mexico (126K tons), Pakistan (111K tons), Italy (106K tons) and Morocco (101K tons) - together made up 23% of total imports.

Imports into Vietnam increased at an average annual rate of +7.7% from 2012 to 2022. At the same time, Myanmar (+27.2%), Pakistan (+21.4%), Bangladesh (+16.2%), India (+13.1%), Cambodia (+8.5%), Morocco (+8.4%), Russia (+5.8%), Brazil (+3.0%), Italy (+2.6%), Indonesia (+1.8%) and Mexico (+1.0%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in the world, with a CAGR of +27.2% from 2012-2022. The United States experienced a relatively flat trend pattern. Bangladesh (+3.6 p.p.), India (+2.8 p.p.), Vietnam (+2.7 p.p.), Myanmar (+2.4 p.p.) and Cambodia (+1.5 p.p.) significantly strengthened its position in terms of the global imports, while the United States saw its share reduced by -2.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($7.3B) constitutes the largest market for imported knitted or crocheted fabrics worldwide, comprising 19% of global imports. The second position in the ranking was held by Cambodia ($2.7B), with a 7% share of global imports. It was followed by Bangladesh, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Vietnam totaled +8.9%. The remaining importing countries recorded the following average annual rates of imports growth: Cambodia (+8.7% per year) and Bangladesh (+16.4% per year).

Imports By Type

In 2022, fabrics, knitted or crocheted, of a width of > 30 cm (3.3M tons) was the major type of knitted or crocheted fabrics, making up 55% of total imports. It was distantly followed by knitted or crocheted fabrics, of a width > 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread (1,012K tons), knitted or crocheted pile fabrics (988K tons) and warp knit fabrics, incl. those made on galloon knitting machines, of a width of > 30 cm (563K tons), together mixing up a 43% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to fabrics, knitted or crocheted, of a width of > 30 cm imports of stood at +5.5%. At the same time, knitted or crocheted pile fabrics (+6.6%), knitted or crocheted fabrics, of a width > 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread (+5.5%) and warp knit fabrics, incl. those made on galloon knitting machines, of a width of > 30 cm (+3.5%) displayed positive paces of growth. Moreover, knitted or crocheted pile fabrics emerged as the fastest-growing type imported in the world, with a CAGR of +6.6% from 2012-2022. From 2012 to 2022, the share of knitted or crocheted pile fabrics increased by +1.9 percentage points. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, fabrics, knitted or crocheted, of a width of > 30 cm ($20.1B) constitutes the largest type of knitted or crocheted fabrics imported worldwide, comprising 52% of global imports. The second position in the ranking was taken by knitted or crocheted fabrics, of a width > 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread ($8.7B), with a 23% share of global imports. It was followed by knitted or crocheted pile fabrics, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of the value of fabrics, knitted or crocheted, of a width of > 30 cm imports stood at +4.5%. With regard to the other imported products, the following average annual rates of growth were recorded: knitted or crocheted fabrics, of a width > 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread (+4.7% per year) and knitted or crocheted pile fabrics (+5.7% per year).

Import Prices By Type

In 2022, the average knitted fabric import price amounted to $6,430 per ton, increasing by 6.3% against the previous year. Over the period under review, the import price, however, saw a mild setback. Global import price peaked at $7,510 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was knitted or crocheted fabrics, of a width <= 30 cm ($10,799 per ton), while the price for knitted or crocheted pile fabrics ($5,294 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by knitted or crocheted fabrics, of a width <= 30 cm (+0.5%), while the other products experienced a decline in the import price figures.

Import Prices By Country

The average knitted fabric import price stood at $6,430 per ton in 2022, picking up by 6.3% against the previous year. Over the period under review, the import price, however, continues to indicate a slight curtailment. Over the period under review, average import prices hit record highs at $7,510 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($9,055 per ton), while India ($2,399 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Knitted Or Crocheted Fabrics

In 2022, the amount of knitted or crocheted fabrics exported worldwide reached 4.8M tons, approximately equating the previous year. The total export volume increased at an average annual rate of +3.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 10%. Over the period under review, the global exports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, knitted fabric exports expanded remarkably to $33.5B in 2022. The total export value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 14% against the previous year. Over the period under review, the global exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports By Country

China prevails in exports structure, finishing at 2.6M tons, which was approx. 54% of total exports in 2022. Turkey (297K tons) took the second position in the ranking, followed by South Korea (280K tons) and Taiwan (Chinese) (214K tons). All these countries together took near 17% share of total exports. The following exporters - Vietnam (185K tons), India (113K tons), the United States (83K tons) and Italy (81K tons) - together made up 9.7% of total exports.

From 2012 to 2022, average annual rates of growth with regard to knitted fabric exports from China stood at +6.8%. At the same time, Vietnam (+20.0%), India (+6.7%), Turkey (+2.9%) and Italy (+1.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +20.0% from 2012-2022. By contrast, the United States (-3.3%), Taiwan (Chinese) (-3.3%) and South Korea (-5.3%) illustrated a downward trend over the same period. While the share of China (+15 p.p.) and Vietnam (+3 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of the United States (-1.6 p.p.), Taiwan (Chinese) (-4.3 p.p.) and South Korea (-8.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($14.7B) remains the largest knitted fabric supplier worldwide, comprising 44% of global exports. The second position in the ranking was held by Taiwan (Chinese) ($2.4B), with a 7.2% share of global exports. It was followed by South Korea, with a 6.7% share.

In China, knitted fabric exports expanded at an average annual rate of +7.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (-0.1% per year) and South Korea (-5.7% per year).

Exports By Type

Fabrics, knitted or crocheted, of a width of > 30 cm was the largest exported product with an export of about 2.5M tons, which amounted to 53% of total exports. Knitted or crocheted fabrics, of a width > 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread (878K tons) took an 18% share (based on physical terms) of total exports, which put it in second place, followed by knitted or crocheted pile fabrics (16%) and warp knit fabrics, incl. those made on galloon knitting machines, of a width of > 30 cm (12%).

Exports of fabrics, knitted or crocheted, of a width of > 30 cm increased at an average annual rate of +3.1% from 2012 to 2022. At the same time, knitted or crocheted pile fabrics (+4.9%), warp knit fabrics, incl. those made on galloon knitting machines, of a width of > 30 cm (+3.8%) and knitted or crocheted fabrics, of a width > 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread (+2.6%) displayed positive paces of growth. Moreover, knitted or crocheted pile fabrics emerged as the fastest-growing type exported in the world, with a CAGR of +4.9% from 2012-2022. From 2012 to 2022, the share of knitted or crocheted pile fabrics increased by +2.2 percentage points, while the shares of the other products remained relatively stable throughout the analyzed period.

In value terms, fabrics, knitted or crocheted, of a width of > 30 cm ($16.9B) remains the largest type of knitted or crocheted fabrics supplied worldwide, comprising 50% of global exports. The second position in the ranking was taken by knitted or crocheted fabrics, of a width > 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread ($8.2B), with a 25% share of global exports. It was followed by knitted or crocheted pile fabrics, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of the value of fabrics, knitted or crocheted, of a width of > 30 cm exports amounted to +2.6%. For the other products, the average annual rates were as follows: knitted or crocheted fabrics, of a width > 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread (+2.4% per year) and knitted or crocheted pile fabrics (+3.8% per year).

Export Prices By Type

In 2022, the average knitted fabric export price amounted to $7,042 per ton, rising by 7.9% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The global export price peaked at $7,697 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was knitted or crocheted fabrics, of a width <= 30 cm ($15,358 per ton), while the average price for exports of knitted or crocheted pile fabrics ($5,521 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by knitted or crocheted fabrics, of a width <= 30 cm (+0.7%), while the other products experienced mixed trends in the export price figures.

Export Prices By Country

In 2022, the average knitted fabric export price amounted to $7,042 per ton, increasing by 7.9% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $7,697 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($15,587 per ton), while China ($5,743 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform