Ski-Suit Market

The article delves into the declining trends of the global ski-suit market, with forecasts suggesting a negative CAGR for both consumption and production. It highlights key statistics such as market volume, value, consumption patterns, production figures, imports, exports, and per capita consumption rates. The United States, China, and India are identified as the top consumers, while China leads in production and exports. Emerging trends in import prices and shifts in market shares among key players are also discussed.

Market Forecast

Depressed by shrinking demand for ski-suit worldwide, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -3.2% for the period from 2022 to 2030, which is projected to depress the market volume to 11M units by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of -1.4% for the period from 2022 to 2030, which is projected to bring the market value to $303M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Ski-Suits (Excluding Of Knitted Or Crocheted Textiles)

In 2022, global consumption of ski-suits (excluding of knitted or crocheted textiles) contracted to 14M units, declining by -10% against 2021 figures. Overall, consumption showed a perceptible downturn. Over the period under review, global consumption hit record highs at 24M units in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

The global ski-suit market size fell to $340M in 2022, reducing by -4% 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, consumption showed a abrupt contraction. Global consumption peaked at $629M in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (2.3M units), China (1.3M units) and India (1.1M units), with a combined 32% share of global consumption.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +4.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest ski-suit markets worldwide were China ($28M), the United States ($17M) and Mexico ($17M), with a combined 18% share of the global market. Indonesia, Germany, Japan, India, Russia, Brazil, Pakistan, Nigeria, Chile and Turkey lagged somewhat behind, together accounting for a further 25%.

In terms of the main consuming countries, Turkey, with a CAGR of +2.3%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of ski-suit per capita consumption was registered in Chile (27 units per 1000 persons), followed by the United States (6.9 units per 1000 persons), Turkey (6.5 units per 1000 persons) and Germany (4 units per 1000 persons), while the world average per capita consumption of ski-suit was estimated at 1.8 units per 1000 persons.

In Chile, ski-suit per capita consumption increased at an average annual rate of +1.6% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the United States (+4.2% per year) and Turkey (+2.4% per year).

Production

World Production of Ski-Suits (Excluding Of Knitted Or Crocheted Textiles)

In 2022, approx. 14M units of ski-suits (excluding of knitted or crocheted textiles) were produced worldwide; waning by -3.6% on 2021 figures. Overall, production showed a abrupt contraction. The pace of growth was the most pronounced in 2021 with an increase of 13%. Global production peaked at 25M units in 2012; however, from 2013 to 2022, production remained at a lower figure.

In value terms, ski-suit production shrank modestly to $367M in 2022 estimated in export price. Over the period under review, production continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2016 with an increase of 7.9%. Global production peaked at $643M in 2012; however, from 2013 to 2022, production remained at a lower figure.

Production By Country

China (5.4M units) constituted the country with the largest volume of ski-suit production, accounting for 38% of total volume. Moreover, ski-suit production in China exceeded the figures recorded by the second-largest producer, India (1.1M units), fivefold. Turkey (548K units) ranked third in terms of total production with a 3.8% share.

In China, ski-suit production declined by an average annual rate of -3.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (-4.3% per year) and Turkey (+2.8% per year).

Imports

World Imports of Ski-Suits (Excluding Of Knitted Or Crocheted Textiles)

In 2022, global imports of ski-suits (excluding of knitted or crocheted textiles) shrank slightly to 6.8M units, with a decrease of -1.7% compared with 2021. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 76%. As a result, imports attained the peak of 7M units, and then reduced modestly in the following year.

In value terms, ski-suit imports surged to $153M in 2022. The total import value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 26% against the previous year. Global imports peaked in 2022 and are expected to retain growth in years to come.

Imports By Country

In 2022, the United States (2.4M units) was the largest importer of ski-suits (excluding of knitted or crocheted textiles), committing 35% of total imports. Chile (518K units) held a 7.6% share (based on physical terms) of total imports, which put it in second place, followed by Germany (5.8%) and Poland (5%). Japan (293K units), the UK (234K units), the Netherlands (224K units), Denmark (221K units), Italy (184K units), Canada (160K units), Kuwait (146K units), the Dominican Republic (126K units) and France (120K units) held a little share of total imports.

Imports into the United States increased at an average annual rate of +16.2% from 2012 to 2022. At the same time, Kuwait (+34.6%), the Dominican Republic (+19.9%), Poland (+18.6%), Denmark (+3.7%), Chile (+2.7%) and Canada (+1.6%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in the world, with a CAGR of +34.6% from 2012-2022. The UK experienced a relatively flat trend pattern. By contrast, Italy (-1.7%), the Netherlands (-2.4%), Germany (-3.3%), France (-4.5%) and Japan (-7.5%) illustrated a downward trend over the same period. While the share of the United States (+26 p.p.), Poland (+3.9 p.p.) and Kuwait (+2 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of France (-1.6 p.p.), the Netherlands (-1.7 p.p.), Germany (-4.1 p.p.) and Japan (-6.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($20M), Poland ($13M) and the United States ($12M) constituted the countries with the highest levels of imports in 2022, with a combined 29% share of global imports. Japan, Italy, the Netherlands, Denmark, France, the UK, Canada, Kuwait, Chile and the Dominican Republic lagged somewhat behind, together accounting for a further 36%.

Kuwait, with a CAGR of +38.7%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average ski-suit import price amounted to $22 per unit, jumping by 23% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $26 per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was France ($54 per unit), while Chile ($3.5 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+8.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Ski-Suits (Excluding Of Knitted Or Crocheted Textiles)

In 2022, overseas shipments of ski-suits (excluding of knitted or crocheted textiles) increased by 15% to 7M units, rising for the second year in a row after two years of decline. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by 34% against the previous year. As a result, the exports attained the peak of 9.8M units. From 2015 to 2022, the growth of the global exports failed to regain momentum.

In value terms, ski-suit exports surged to $231M in 2022. Overall, total exports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +64.5% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports By Country

China prevails in exports structure, reaching 4.2M units, which was approx. 60% of total exports in 2022. It was distantly followed by Spain (366K units), committing a 5.2% share of total exports. The following exporters - Nicaragua (222K units), Poland (218K units), Vietnam (180K units), the Netherlands (178K units), Tunisia (167K units), Bangladesh (161K units), the United States (128K units), Democratic People's Republic of Korea (109K units), France (107K units) and Myanmar (107K units) - together made up 22% of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of ski-suits (excluding of knitted or crocheted textiles). At the same time, Nicaragua (+168.6%), Tunisia (+43.1%), Spain (+27.1%), Myanmar (+24.1%), Poland (+21.3%), Bangladesh (+12.8%), France (+7.2%) and Vietnam (+5.0%) displayed positive paces of growth. Moreover, Nicaragua emerged as the fastest-growing exporter exported in the world, with a CAGR of +168.6% from 2012-2022. The Netherlands experienced a relatively flat trend pattern. By contrast, the United States (-1.8%) and Democratic People's Republic of Korea (-5.4%) illustrated a downward trend over the same period. Spain (+4.7 p.p.), Nicaragua (+3.2 p.p.), Poland (+2.7 p.p.), Tunisia (+2.3 p.p.), Bangladesh (+1.6 p.p.) and Myanmar (+1.5 p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($108M) remains the largest ski-suit supplier worldwide, comprising 47% of global exports. The second position in the ranking was held by Nicaragua ($14M), with a 5.8% share of global exports. It was followed by France, with a 4.8% share.

In China, ski-suit exports expanded at an average annual rate of +1.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Nicaragua (+181.8% per year) and France (+13.8% per year).

Export Prices By Country

The average ski-suit export price stood at $33 per unit in 2022, growing by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2017 when the average export price increased by 16% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was France ($103 per unit), while the United States ($14 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (+16.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform