The European market potential for knitwear

The value of European knitwear imports is estimated at €25.8 billion, making it a major apparel sub-segment. According to ITC Trade Map statistics, in 2022 the European share of total world knitwear imports was as much as 34%, compared to 26% for the USA.

The markets offering the best opportunities for the import of knitwear to the EU include Germany, France, Italy, Spain and the Netherlands. These countries are the biggest importers of knitwear in the EU and are also amongst the biggest importers of knitwear from developing countries. Poland stands out due to its high growth in recent years (including imports from developing countries) and is among the region’s key markets.

Knitwear is a fashion segment that fits well into the trend for ‘slow fashion’. High-quality knitted garments are not only durable but also timeless. Knitwear products made from natural or more sustainable fibres are becoming increasingly popular among a growing market of environmentally conscious consumers.

1. Product description

Knitwear refers to garments made from yarns that are knitted or woven together using needles. Knitwear is popular because it is stylish yet comfortable due to its stretch properties. It is warm, versatile and easy to pair, which makes it ideal for layering in colder climates. Knitwear made with lighter or looser weaves can be cooling in summer, particularly if the fibre has temperature regulating properties (such as merino wool, linen, cotton or modal). Knitwear is easily packable as it is largely resistant to creasing, making it perfect for travelling.

The term knitted garments refers to all garments traded under HS Code 61. This includes a broad range of sub-segments, from T-shirts to socks, sweaters, tracksuits, dresses and even blazers. The term knitwear, on the other hand, generally refers to upper-body garments made from knitted fabric, traditionally worn to provide warmth by layering.

For the purposes of this analysis, the knitwear segment includes knitted or crocheted jerseys, pullovers, cardigans and waistcoats made of wool, fine animal hair (including cashmere), cotton, man-made fibres and other textile materials. The HS Codes under which these garments trade are the following: