Summary
Stitch up: Low-cost imports are flooding the market, pushing local manufacturers into niche products
Abstract
Knitted Product Manufacturing in Australia
Unfavourable domestic and international conditions have seen Australian knitted goods manufacturers continue to decline in recent years. Low domestic production and eased importing costs have seen imports rise as a percentage of domestic demand and revenue fall. High imports and minimal government support have hurt domestic manufacturers. Volatile consumer sentiment has caused many consumers to spend more cautiously, which has exacerbated the uptake of cheap imports. Nonetheless, some segments of the industry, including knitwear and knitted apparel, benefited from increased demand from clothing retailers and a rise in real disposable income.
The industry consists of operators mainly engaged in manufacturing knitted clothing or knitted or crocheted fabrics, including hosiery, cardigans, jackets and pullovers. Fabrics are sold to other manufacturers for further production. Finished clothing products are purchased by wholesalers and retailers, who then resell these items to the final consumer.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
