T-Shirt Market

The global t-shirt market is expected to continue growing with an anticipated CAGR of +2.3% for consumption and +4.4% for market value from 2022 to 2030. Key countries driving market growth include China, the United States, and India. Bangladesh, China, and India lead in t-shirt production, while Bangladesh, China, and Germany are major exporters. The report provides comprehensive insights into market trends, key players, and future outlook for the t-shirt industry.

Market Forecast

Driven by increasing demand for t-shirts 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 +2.3% for the period from 2022 to 2030, which is projected to bring the market volume to 26B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.4% for the period from 2022 to 2030, which is projected to bring the market value to $107.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of T-Shirts

In 2022, approx. 21B units of t-shirts were consumed worldwide; remaining constant against the previous year's figure. The total consumption volume increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, global consumption attained the peak volume at 23B units in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

The global t-shirt market value reached $76.4B in 2022, leveling off at 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, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +8.9% against 2020 indices. Global consumption peaked at $86.5B in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (3.6B units), the United States (3.4B units) and India (1.5B units), with a combined 39% share of global consumption. Pakistan, Germany, Indonesia, Bangladesh, the UK, Mexico, France, Turkey, Ethiopia and Spain lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +8.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($10.6B), Turkey ($10.1B) and the United States ($7.3B) were the countries with the highest levels of market value in 2022, with a combined 37% share of the global market. Indonesia, Germany, the UK, Pakistan, France, Mexico, Bangladesh, Spain, India and Ethiopia lagged somewhat behind, together accounting for a further 22%.

Indonesia, with a CAGR of +8.6%, recorded the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of t-shirt per capita consumption in 2022 were the United States (10 units per person), Germany (8.3 units per person) and the UK (8.1 units per person).

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +8.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of T-Shirts

In 2022, global production of t-shirts rose to 25B units, increasing by 2.4% compared with the year before. The total output volume increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 13%. Over the period under review, global production reached the peak volume at 26B units in 2019; however, from 2020 to 2022, production remained at a lower figure.

In value terms, t-shirt production dropped to $85.6B in 2022 estimated in export price. Over the period under review, production recorded a pronounced increase. The pace of growth was the most pronounced in 2018 when the production volume increased by 26%. Over the period under review, global production hit record highs at $165.8B in 2019; however, from 2020 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (6.5B units), Bangladesh (6B units) and India (2.3B units), with a combined 59% share of global production.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +7.5%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of T-Shirts

In 2022, approx. 14B units of t-shirts were imported worldwide; picking up by 9.2% compared with the previous year. The total import volume increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when imports increased by 31%. Over the period under review, global imports attained the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, t-shirt imports amounted to $50.3B in 2022. The total import value increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 21%. Over the period under review, global imports reached the maximum in 2022 and are likely to see steady growth in the near future.

Imports By Country

In 2022, the United States (3.9B units) represented the largest importer of t-shirts, constituting 29% of total imports. It was distantly followed by Germany (1,141M units), Spain (666M units) and France (657M units), together comprising an 18% share of total imports. The following importers - the UK (577M units), the Netherlands (463M units), Italy (450M units), Poland (414M units), Mexico (359M units), Belgium (344M units), Japan (328M units), Canada (260M units) and Australia (232M units) - together made up 25% of total imports.

Imports into the United States increased at an average annual rate of +3.5% from 2012 to 2022. At the same time, Poland (+13.2%), Spain (+7.5%), Mexico (+6.0%), the Netherlands (+5.4%), Germany (+4.8%), Australia (+3.4%), France (+3.1%), Italy (+2.7%), Canada (+1.5%) and Belgium (+1.2%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in the world, with a CAGR of +13.2% from 2012-2022. By contrast, the UK (-1.6%) and Japan (-2.0%) illustrated a downward trend over the same period. Poland (+1.8 p.p.) significantly strengthened its position in terms of the global imports, while Japan and the UK saw its share reduced by -1.8% and -2.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest t-shirt importing markets worldwide were the United States ($8.9B), Germany ($4.9B) and France ($2.7B), together comprising 33% of global imports. The UK, Spain, Japan, the Netherlands, Italy, Belgium, Poland, Canada, Australia and Mexico lagged somewhat behind, together accounting for a further 32%.

Poland, with a CAGR of +12.2%, 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.

Imports By Type

T-shirts, singlets and other vests; of cotton, knitted or crocheted represented the major imported product with an import of about 11B units, which resulted at 78% of total imports. It was distantly followed by t-shirts, singlets and other vests; of textile materials (other than cotton), knitted or crocheted (3B units), committing a 22% share of total imports.

T-shirts, singlets and other vests; of cotton, knitted or crocheted was also the fastest-growing in terms of imports, with a CAGR of +3.8% from 2012 to 2022. At the same time, t-shirts, singlets and other vests; of textile materials (other than cotton), knitted or crocheted (+3.0%) displayed positive paces of growth. The shares of the largest types remained relatively stable throughout the analyzed period.

In value terms, t-shirts, singlets and other vests; of cotton, knitted or crocheted ($36.4B) constitutes the largest type of t-shirts imported worldwide, comprising 72% of global imports. The second position in the ranking was taken by t-shirts, singlets and other vests; of textile materials (other than cotton), knitted or crocheted ($13.9B), with a 28% share of global imports.

For t-shirts, singlets and other vests; of cotton, knitted or crocheted, imports expanded at an average annual rate of +4.5% over the period from 2012-2022.

Import Prices By Type

In 2022, the average t-shirt import price amounted to $3.7 per unit, growing by 4.4% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 23% against the previous year. As a result, import price attained the peak level of $4.4 per unit. From 2015 to 2022, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major imported products. In 2022, the product with the highest price was t-shirts, singlets and other vests; of textile materials (other than cotton), knitted or crocheted ($4.6 per unit), while the price for t-shirts, singlets and other vests; of cotton, knitted or crocheted totaled $3.4 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by t-shirts, singlets and other vests; of cotton, knitted or crocheted (+0.7%).

Import Prices By Country

In 2022, the average t-shirt import price amounted to $3.7 per unit, growing by 4.4% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 23% against the previous year. As a result, import price attained the peak level of $4.4 per unit. From 2015 to 2022, the average import prices failed to regain momentum.

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 Japan ($6.4 per unit), while the United States ($2.3 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+3.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of T-Shirts

In 2022, approx. 18B units of t-shirts were exported worldwide; with an increase of 11% compared with 2021. The total export volume increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 21% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, t-shirt exports reached $62.1B in 2022. The total export value increased at an average annual rate of +4.7% 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 2021 with an increase of 22% against the previous year. Over the period under review, the global exports reached the peak figure in 2022 and are likely to continue growth in the near future.

Exports By Country

In 2022, Bangladesh (5.4B units), distantly followed by China (3B units) and India (0.9B units) were the largest exporters of t-shirts, together mixing up 53% of total exports. Turkey (763M units), Honduras (618M units), the United States (565M units), Vietnam (528M units), Mexico (466M units), Germany (460M units), the Dominican Republic (376M units), Spain (312M units) and Haiti (303M units) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the Dominican Republic (with a CAGR of +18.8%), while the other global leaders experienced more modest paces of growth.

In value terms, Bangladesh ($13.7B), China ($9.3B) and Germany ($2.9B) appeared to be the countries with the highest levels of exports in 2022, together comprising 42% of global exports.

Bangladesh, with a CAGR of +12.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

T-shirts, singlets and other vests; of cotton, knitted or crocheted represented the largest exported product with an export of around 13B units, which finished at 76% of total exports. It was distantly followed by t-shirts, singlets and other vests; of textile materials (other than cotton), knitted or crocheted (4.2B units), generating a 24% share of total exports.

T-shirts, singlets and other vests; of cotton, knitted or crocheted was also the fastest-growing in terms of exports, with a CAGR of +3.8% from 2012 to 2022. At the same time, t-shirts, singlets and other vests; of textile materials (other than cotton), knitted or crocheted (+3.6%) displayed positive paces of growth. The shares of the largest types remained relatively stable throughout the analyzed period.

In value terms, t-shirts, singlets and other vests; of cotton, knitted or crocheted ($44.7B) remains the largest type of t-shirts supplied worldwide, comprising 72% of global exports. The second position in the ranking was held by t-shirts, singlets and other vests; of textile materials (other than cotton), knitted or crocheted ($17.5B), with a 28% share of global exports.

For t-shirts, singlets and other vests; of cotton, knitted or crocheted, exports expanded at an average annual rate of +5.2% over the period from 2012-2022.

Export Prices By Type

In 2022, the average t-shirt export price amounted to $3.5 per unit, growing by 2.3% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 17%. As a result, the export price reached the peak level of $3.7 per unit. From 2015 to 2022, the average export prices remained at a lower figure.

Average prices varied somewhat amongst the major exported products. In 2022, the product with the highest price was t-shirts, singlets and other vests; of textile materials (other than cotton), knitted or crocheted ($4.2 per unit), while the average price for exports of t-shirts, singlets and other vests; of cotton, knitted or crocheted stood at $3.3 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by t-shirts, singlets and other vests; of cotton, knitted or crocheted (+1.4%).

Export Prices By Country

In 2022, the average t-shirt export price amounted to $3.5 per unit, rising by 2.3% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 17%. As a result, the export price attained the peak level of $3.7 per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

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 Germany ($6.2 per unit), while the Dominican Republic ($1.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (+4.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform