Thailand Knitwear Market: Import Trend Analysis
Thailand import trend in the knitwear market showed a growth rate of 4.54% from 2023 to 2024, with a compound annual growth rate (CAGR) of 21.12% from 2020 to 2024. This upward momentum can be attributed to the increasing demand for quality knitwear products in the region, reflecting a positive market stability and consumer preference for such goods during the period.
Knitwear Market: Thailand vs Top 5 Major Economies in 2027 (Asia)
By 2027, Thailand's Knitwear market is forecasted to achieve a stable growth rate of 1.55%, with China leading the Asia region, followed by India, Japan, Australia and South Korea.
Thailand Knitwear Market Synopsis Market Synopsis
The Thailand knitwear market is expected to grow at a CAGR of 5.27% during the forecast period 2025-2031. The increasing popularity of sportswear and athleisure, improved economic condition and purchasing power parity in the country are some of the major drivers for Thailand knitwear industry. In addition, rising demand for eco-friendly clothing has also been driving sales growth in recent years. Moreover, government initiatives aimed at promoting domestic production as well as improving product quality are likely to further boost industry growth over the coming years.
Market Drivers
The growing trend towards leisure activities such as yoga and fitness among Thailand millennials is driving demand for sportswear and athleisure apparel including knitwear garments such as hoodies, joggers, etc., which have become very popular in urban areas. This increased preference for casual yet stylish clothing has contributed to an increase in demand within this segment which will drive market growth during the forecast period 2025-2031.
Challenges of the Market
The highly fragmented structure of Thailand knitting garment industry means that it???s difficult to gain any sort of competitive advantage or economies of scale compared to larger players operating internationally.This increases competition while giving local producers access cheaper imports from countries like China, India, Bangladesh, etc., resulting in thin margins across much of the sector .
Covid-19 Impact on the Market
The Covid19 pandemic has had an adverse effect on many markets globally including Thailand knitwear market where lockdown measures resulted in temporary closure or slowdown operations at textile mills causing disruptions throughout supply chains.However despite these challenges, some manufacturers managed adapt quickly through digitalization eCommerce channels helping them maintain operations while continuing reach new customers.
Key Players of the Market
Major players operating within the Thailand knitwear market include Boonklieng Knitting Co., Ltd., Kaset Thani Textile Mills Public Co., Ltd., Yarn Thailand Public Company Limited (YTN), Thermosoft International Corporation (TIC) and SGS Knitware Co., Ltd.. These companies are focused on developing innovative products that meet customer needs and provide high quality services at competitive prices. They are also investing heavily in research and development activities to stay ahead of their competition. Other key players within this sector include Asian Apparel Group (AAG), Maneechan Group Holdings Plc, SukhoThailand Spinning Mill PCL and Sueksanong Texknit Co., Ltd.
Key Highlights of the Report:
- Thailand Knitwear Market Market Outlook
- Market Size of Thailand Knitwear Market Market, 2025
- Forecast of Thailand Knitwear Market Market, 2032
- Historical Data and Forecast of Thailand Knitwear Market Revenues & Volume for the Period 2022-2032F
- Thailand Knitwear Market Market Trend Evolution
- Thailand Knitwear Market Market Drivers and Challenges
- Thailand Knitwear Market Price Trends
- Thailand Knitwear Market Porter's Five Forces
- Thailand Knitwear Market Industry Life Cycle
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Product Type for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Innerwear for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By T-Shirts & Shirts for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Sweaters & Jackets for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Sweatshirts & Hoodies for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Shorts & Trousers for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Evening Dresses, Suits, & Leggings for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Accessories for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Material Type for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Natural for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Synthetic for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Blended for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Applications for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Outerwear for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Innerwear for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Sportswear for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Others for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Consumer Group for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Men for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Women for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Kids for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Distribution Channel for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Online for the Period 2022-2032F
- Historical Data and Forecast of Thailand Knitwear Market Market Revenues & Volume By Offline for the Period 2022-2032F
- Thailand Knitwear Market Import Export Trade Statistics
- Market Opportunity Assessment By Product Type
- Market Opportunity Assessment By Material Type
- Market Opportunity Assessment By Applications
- Market Opportunity Assessment By Consumer Group
- Market Opportunity Assessment By Distribution Channel
- Thailand Knitwear Market Top Companies Market Share
- Thailand Knitwear Market Competitive Benchmarking By Technical and Operational Parameters
- Thailand Knitwear Market Company Profiles
- Thailand Knitwear Market Key Strategic Recommendations
