Bangladesh exported different types of apparel products all over the world. In T-shirt Production, Bangladesh has attained the highest growth among the other producing countries from 2007 to 2015. China (3,881 million units), Bangladesh (1,521 million units), and India (1,062 million units) had the largest production of T-shirts in absolute volumes. Bangladesh (+11.2% per year) and India (+7.6% per year) attained the highest growth rates of T-shirt production among the main producing countries from 2007 to 2015, while China (-1.6% per year) experienced negative dynamics, according to a report published by Index box, a leading market research publisher, titled “World: T-Shirts – Market Report. Analysis And Forecast To 2025”.
China appeared as the key world T-shirt producing country with an output of about 5,158M units in 2016, which accounted for 39% of total global output. The other major producers were Bangladesh (12%), India (11%), Turkey (6%), Vietnam (3%) and Cambodia (3%). These countries were the main producing countries of T-shirts in the world, together comprising 74% of global T-shirt production.
Despite the fact that China remains a key global centre for the production of T-shirts, production is gradually shifting to the other countries in Asia, where the cost price for the manufacture of light industry products is significantly lower than in China.
Therefore, Cambodia (+40.0% per year), Vietnam (+12.8%), Bangladesh (+10.6% per year) and India (+7.6%) experienced the most notable growth in T-shirt production over the period under review. At the same time, production in China indicated more modest paces of growth, said the report.
Global T-shirt market is growing
According to market research conducted by Index Box, global production of T-shirts was estimated at 11.7 billion units in 2015, which was 57 million units more than in 2014. There was an annual increase of +2.7% in physical terms and +4.4% in value terms for the period from 2007 to 2015. In value terms, T-shirt production stood at 44.1 billion USD in 2015.
The report also said, in 2016, global T-shirt market grew to 12.2M units, rising by an average growth rate of +3.2% over the last nine years. In wholesale prices, the market totaled $40.5B in 2016, approximately mirroring the previous year figure. Following a slight decline, the market expanded at a double-digit rate from 2010-2011, subsequently leveling off over the next five-year period. This figure reflects the total revenue of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price).
T-shirt production continued its growth
T-shirt production increased from 10,460M units in 2007 to 13,046M units in 2016, expanding by +2.5% per year. In value terms, production stood at $49,333M in 2016, with only a slight increase compared to the previous year. Overall, from 2007 to 2016, the average annual growth rate with regard to production value amounted to +4.3%.
China, Bangladesh, India, and Turkey constitute the largest exporters of T-shirts
In 2016, the volume of global T-shirt exports totaled 11.8B units, a 4% growth from the previous year. In value terms, exports remained relatively stable over the last year at $44.7B in 2016.
China (25% of total exports), Bangladesh (13%), India (8%), Turkey (7%), the U.S., Mexico and Vietnam (4%, each) were the main global suppliers of T-shirts. From 2007 to 2016, Vietnam (+13.1% per year), Bangladesh (+10.6% per year) and India (+8.6%) were the fastest growing suppliers amongst the major exporters. The increased exports in these countries are due to the export-orientated means of production, feasible as a result of the cheap labour costs. While the share of Bangladesh (+7 percentage points), India (+4 percentage points) and Vietnam (+2 percentage points) increased, the share of China (-14 percentage points) displayed a negative dynamic. The shares of the other countries remained relatively stable throughout the analyzed period.
In the medium term, the T-shirt market is set to continue moderate growth
According to projections, T-shirt consumption is set to maintain an upward growth trend in the immediate term, due to the recovery being seen in the global economy, the process of ongoing urbanization, the rising population, and increasing income levels. The global trend of the T-shirt market is expected to continue, with a growth of +1.7% annually in the medium term.
The report noted that the global T-shirt market would develop and expand at various rates in different regions. While the economically mature markets of the U.S., Canada, and Western Europe are close to their saturation point in terms of T-shirt consumption, the emerging economies, such as China, India, Russia, and Brazil are far from saturated. They share a few similar characteristics, including a rising population, an improved economic situation, rising disposable incomes, and urbanization.
The U.S. and China remain the main consumers of T-shirts
The countries with the highest consumption were the U.S. (25%), China (19%), the UK (5%), India (4%), Japan (4%), Germany (3%), Canada (3%), Korea (3%), France (2%), and Italy (2%). The other major countries comprised almost 30% of global consumption.
The highest annual rates of growth in terms of T-shirt consumption from 2007 to 2016 were recorded in China, with a +12.6% growth, India, and Japan, with +6.5% and +5.0% growth, respectively. Consequently, China significantly strengthened its share in terms of global consumption from 9% in 2007 to 19% in 2016. By contrast, the share of France (-2 percentage points), Spain and the UK (-3 percentage points) declined over the period under review.
Amongst the leading consuming countries, high levels of per capita consumption were recorded in Canada (10 unit/year in 2016), the U.S. and the UK (9 unit/year), which were significantly higher than the world average of 2 unit/year. From 2007 to 2016, per capita consumption in the U.S. grew by +2.0% per year; in Canada and the UK, it declined by -1.6% per year and -2.7% per year. The annual growth of per capita consumption from 2007 to 2016 was the most notable in China, with +12.6% growth.
The U.S. assumed about 29% of global T-shirt imports
The volume of global T-shirt imports increased by 8% over the last year to 11.0B units in 2016, which was equal to $35.8B. The imports trend pattern generally mirrored that of exports: these trade flows globally complement each other.
In 2016, the U.S. (29%) constituted the leading destination for T-shirt imports, followed by Germany, the UK (7%, each), Japan, Italy, France (4%, each) and Spain (3%). The remaining importers together accounted for 42% of global imports. From 2007 to 2016, Japan (+4.6%) and the U.S. (+3.2%) had the highest growth rates of imports. The remaining importing countries showed more moderate or even negative paces of growth. The U.S. (+3 percentage points) strengthened its position in terms of the global imports, while the UK and France (-2 percentage points, each) saw its share reduced from 2007 to 2016. The shares of the other countries remained relatively stable throughout the analyzed period.