Industry Analysis & Industry Trends
The Knitted Product Manufacturing industry has struggled to compete over the five years through 2012-13 as international manufacturers have provided intense competition. Chinese imports in particularly have flooded the domestic market due to low prices caused by low wage and capital costs. Australian manufacturers have been unable to compete with foreign companies, losing an increasing proportion of the domestic market to imports. This effect has been exacerbated especially over the past five years as the onset of the global financial crisis in 2007-2008 resulted in plummeting business and consumer confidence. As a result, household disposable income growth slowed considerably and consumers became wary with spending. A... purchase to read more
Industry Report - Industry Key Buyers Chapter
The Knitted Product Manufacturing industry is characterised by a low level of market share concentration with only one company considered to be a major player. Concentration is low, as all large firms in the industry have relocated manufacturing operations offshore in an effort to improve efficiency and become more competitive with international manufacturers. The ability for Australian firms to compete on volume has diminished and manufacturers are now required to focus on the production of higher quality goods for niche markets.
The four largest players in the industry are expected to account for approximately 15% of market share and little change is expected... purchase to read more