China is the world's largest producer and exporter of down products. At present, Europe is still the largest export market for China's down industry, followed by the United States, Japan, Vietnam, South Korea and Taiwan. Compared with the same period in 2019, only exports to the South Korean market have increased slightly in 2020, while the others have declined in varying degrees. Exports to the Vietnamese market fell by nearly 60%.
European market: down garments account for 70%
According to the 2021 China Down Industry Market Report, as China's largest export market for down and feather products, exports to Europe accounted for 30.2% of China's total down industry exports. Judging from the trend of the export value of the industry to Europe in the past 7 years, the export of my country's down industry to Europe fluctuates significantly.
The total value of exports to the European market in 2020 is 850 million U.S. dollars, a year-on-year decrease of 28.2%. The annual export value of clothing to Europe has fallen by nearly 30%, which is also the main reason for the decline in total exports to Europe. In the first quarter of 2021, my country's exports to the European market are in good shape. The export value of bedding, clothing, and sleeping bags has increased in varying degrees. The total export value was US$80.19 million, an increase of 8.0% year-on-year. Among them, the export value of down apparel accounted for 70.3% of the total export value to Europe and 34.8% of the total export value of China's down apparel.
Among them, according to the market report of the German Down Association, Germany's total import of down bedding in 2020 is 8616.4 tons, an increase of about 5.5% year-on-year, of which 51% are imported from the EU and 43% are imported from China. China's share of the German down bedding import market dropped by 3% year-on-year. The sales volume of down bedding in Germany is about 6.2 million, which is basically the same as in 2019, indicating that the new crown epidemic has not caused the sales of down bedding in Germany to drop sharply.
US market: Signs of recovery are obvious
Judging from the trend of the export value of my country's down industry to the US market in the past seven years, in 2020, the export value of my country's down industry to the US is about 400 million U.S. dollars, a sharp drop of 39.8% year-on-year, which is the lowest point in the past seven years.
According to the 2021 China Down Industry Market Report, the United States is China’s largest exporter of down bedding. In 2020, it imported 38,371 tons of down bedding from China, accounting for 50.5% of China’s total export of bedding. This is the only quantitative increase in China’s down industry exports to the United States. The product.
In the first quarter of 2021, China's down industry exports to the United States totaled US$72.83 million, a significant year-on-year increase of 204.3%. There are obvious signs of market recovery. In particular, the export of down bedding showed a blowout growth. The export volume of down bedding to the United States in the first quarter was 25% higher than that of the whole year of 2019.
The Japanese market: bedding maintains a major position
Judging from the trend of the export value to the Japanese market in recent years, my country's down industry exports to Japan have fallen sharply for two consecutive years, and the decline has further increased. The export value in 2020 is the lowest in the past seven years, less than half of 2014.
According to the 2021 China Down Industry Market Report, the total export volume of my country's down industry to Japan in 2020 is approximately US$290 million, a year-on-year decrease of 29.7%. The export value of down garments continued to expand after a 28% decline in 2019, with a year-on-year decline of 40.6% in 2020. The export volume of garments fell below 10 million pieces for the first time, to only 6.19 million pieces, and their value reached a new low in the past seven years.
In the first quarter of 2021, my country's down industry exports to the Japanese market totaled US$21.5 million, basically the same year-on-year, with a slight increase of 2.3 percentage points. Except for raw wool, the export value of other products has increased to varying degrees, and bedding maintained its position as the industry's largest export product to Japan in the first quarter.
According to a market report from the Japan Down Association, in 2020, Japan’s total production of bedding will be 2.96 million pieces, a year-on-year decrease of 40,000 pieces. Among them, 1.31 million duvets were produced, a year-on-year increase of 15.2%. In 2020, Japan imported 2.42 million duvets, a year-on-year increase of 2.5%. The average unit price was 3,217 yen per piece, a year-on-year decrease of 14.8%.
In terms of country/region, the top 5 countries and regions in terms of the number of duvets imported by Japan in 2020 are Mainland China, Vietnam, Denmark, Germany and the United States. The number of duvets imported from mainland China was 1.94 million, a year-on-year decrease of 8.3%; the number of duvets imported from Vietnam was 470,000, a year-on-year increase of 104%.
Taiwan market: no obvious rebound
According to the 2021 China Down Industry Market Report, in 2020, the total value of China's down industry exports to Taiwan will be about US$180 million, a year-on-year decrease of 15%. This is the first drop in the past four years, but it is still higher than the 2018 level. Among them, the export value of bedding has dropped significantly, and the export value of clothing and sleeping bags has risen to varying degrees. In the first quarter of 2021, the total export value of China's down industry to the Taiwan market was 38.95 million U.S. dollars, a year-on-year decrease of 8.1%. Except for raw wool, exports of bedding, clothing and sleeping bags have not seen a significant rebound.
The main reasons for the growth of the major export market shares of my country's down industry are that the epidemic situation in China has been well controlled and orders have returned; the second is the development of cross-border e-commerce, which has promoted the improvement of the down market in the United States, Germany and other countries, and the sales channels are undergoing major changes. . According to the market report of the German Badminton Association, in 2020, the number of bedding sold in German online stores has increased significantly year-on-year, and the channel of furniture retailers with specialty stores has also become more important.
Regarding the next market trend, a related report stated that in July 2021, the Japanese government announced a state of emergency in multiple regions for the fourth time. Regional economic activities are restricted and economic growth may slow down; the situation of the down industry in Germany is not optimistic. The prospects are generally poor, which is related to the decline in demand in the German domestic market and the sharp increase in the prices of raw materials used. It is expected that by the fall of 2021, as the penetration rate of new crown vaccination continues to increase, the market is expected to develop in an optimistic direction.
Source: "China Down"
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