Women Hosiery Market

The global women hosiery market is projected to grow in volume and value from 2022 to 2030, with an anticipated CAGR of +2.5% and +3.9% respectively. Consumption of socks, stockings, and other hosiery saw fluctuations over the years, with a peak in 2021. China, the United States, and India were the top consumers in 2022, while Turkey, India, and China led in market value. Production and imports also showed growth trends, with the United States, Germany, and China being major importers. Exports were dominated by China, with Turkey and Germany as key players. The average import and export prices varied by country, with Turkey having the highest export price. Overall, the market is expected to see continued growth in the coming years.

Market Forecast

Driven by increasing demand for socks, stockings and other women's hosiery worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.5% for the period from 2022 to 2030, which is projected to bring the market volume to 40B pairs by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.9% for the period from 2022 to 2030, which is projected to bring the market value to $92.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Socks, Stockings And Other Women's Hosiery

After two years of growth, consumption of socks, stockings and other women's hosiery decreased by -23% to 33B pairs in 2022. Over the period under review, consumption, however, showed a moderate increase. Global consumption peaked at 43B pairs in 2021, and then contracted notably in the following year.

The global women hosiery market revenue shrank sharply to $67.8B in 2022, dropping by -17.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at $82.3B in 2021, and then fell notably in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (3.8B pairs), the United States (3.7B pairs) and India (2.1B pairs), with a combined 30% share of global consumption. Turkey, Germany, Russia, Indonesia, Nigeria, Mexico, Pakistan, France and Bangladesh lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Germany (with a CAGR of +14.8%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Turkey ($6.6B), India ($5.8B) and China ($5.2B) were the countries with the highest levels of market value in 2022, together comprising 26% of the global market. The United States, Mexico, Indonesia, Russia, Germany, France, Pakistan, Nigeria and Bangladesh lagged somewhat behind, together comprising a further 32%.

Germany, with a CAGR of +11.4%, recorded the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of women hosiery per capita consumption in 2022 were Turkey (18 pairs per person), Germany (17 pairs per person) and the United States (11 pairs per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Germany (with a CAGR of +14.5%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Socks, Stockings And Other Women's Hosiery

In 2022, production of socks, stockings and other women's hosiery decreased by -7.8% to 41B pairs for the first time since 2016, thus ending a five-year rising trend. In general, production, however, posted buoyant growth. The pace of growth was the most pronounced in 2020 with an increase of 45%. Over the period under review, global production reached the peak volume at 44B pairs in 2021, and then contracted in the following year.

In value terms, women hosiery production declined to $76.9B in 2022 estimated in export price. Overall, production, however, posted buoyant growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 28% against the previous year. Global production peaked at $83.8B in 2021, and then reduced in the following year.

Production By Country

China (20B pairs) remains the largest women hosiery producing country worldwide, accounting for 50% of total volume. Moreover, women hosiery production in China exceeded the figures recorded by the second-largest producer, India (2.1B pairs), ninefold. Turkey (2B pairs) ranked third in terms of total production with a 5% share.

From 2012 to 2022, the average annual growth rate of volume in China stood at +8.3%. In the other countries, the average annual rates were as follows: India (+3.9% per year) and Turkey (+5.5% per year).

Imports

World Imports of Socks, Stockings And Other Women's Hosiery

For the third year in a row, the global market recorded growth in overseas purchases of socks, stockings and other women's hosiery, which increased by 4.6% to 13B pairs in 2022. Over the period under review, imports posted prominent growth. The pace of growth appeared the most rapid in 2020 when imports increased by 81% against the previous year. Over the period under review, global imports attained the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, women hosiery imports rose significantly to $12.1B in 2022. The total import value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 24% against the previous year. Over the period under review, global imports attained the maximum in 2022 and are likely to see gradual growth in years to come.

Imports By Country

The United States represented the main importing country with an import of around 3.4B pairs, which reached 27% of total imports. Germany (1.4B pairs) took the second position in the ranking, followed by the Netherlands (874M pairs). All these countries together took near 18% share of total imports. The following importers - France (523M pairs), Poland (456M pairs), Italy (430M pairs), Chile (388M pairs), Japan (363M pairs), Russia (335M pairs), Spain (333M pairs), the UK (323M pairs), Sweden (267M pairs) and Belgium (250M pairs) - together made up 29% of total imports.

Imports into the United States increased at an average annual rate of +10.7% from 2012 to 2022. At the same time, Poland (+25.0%), Chile (+23.8%), the Netherlands (+22.4%), Sweden (+20.7%), Germany (+15.7%), Italy (+12.7%), Belgium (+12.4%), France (+10.7%), Spain (+9.0%) and Russia (+5.5%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in the world, with a CAGR of +25.0% from 2012-2022. The UK experienced a relatively flat trend pattern. By contrast, Japan (-1.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Germany, the Netherlands, the United States, Poland and Chile increased by +5.3, +4.8, +4.4, +2.7 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($2.4B) constitutes the largest market for imported socks, stockings and other women's hosiery worldwide, comprising 20% of global imports. The second position in the ranking was taken by Germany ($1.1B), with a 9.3% share of global imports. It was followed by Japan, with a 6.1% share.

In the United States, women hosiery imports increased at an average annual rate of +2.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+3.9% per year) and Japan (-2.1% per year).

Import Prices By Country

The average women hosiery import price stood at $0.9 per pair in 2022, growing by 4.5% against the previous year. Over the period under review, the import price, however, saw a pronounced slump. The pace of growth appeared the most rapid in 2019 when the average import price increased by 15%. As a result, import price attained the peak level of $1.8 per pair. From 2020 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($2 per pair), while Chile ($0.5 per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+1.4%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Socks, Stockings And Other Women's Hosiery

For the sixth year in a row, the global market recorded growth in shipments abroad of socks, stockings and other women's hosiery, which increased by 49% to 21B pairs in 2022. Overall, exports saw prominent growth. The pace of growth appeared the most rapid in 2021 with an increase of 56%. Over the period under review, the global exports reached the maximum in 2022 and are likely to continue growth in the near future.

In value terms, women hosiery exports stood at $13.8B in 2022. The total export value increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 24% against the previous year. The global exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports By Country

China prevails in exports structure, resulting at 17B pairs, which was approx. 79% of total exports in 2022. The following exporters - Turkey (502M pairs), the Netherlands (481M pairs) and Germany (396M pairs) - each reached a 6.6% share of total exports.

Exports from China increased at an average annual rate of +16.9% from 2012 to 2022. At the same time, the Netherlands (+23.4%), Germany (+11.6%) and Turkey (+4.3%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +23.4% from 2012-2022. While the share of China (+19 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Turkey (-3.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($6.5B) remains the largest women hosiery supplier worldwide, comprising 47% of global exports. The second position in the ranking was held by Turkey ($1.1B), with a 7.9% share of global exports. It was followed by Germany, with a 5.2% share.

In China, women hosiery exports expanded at an average annual rate of +3.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+4.6% per year) and Germany (+4.6% per year).

Export Prices By Country

The average women hosiery export price stood at $0.7 per pair in 2022, declining by -27.1% against the previous year. Overall, the export price recorded a deep reduction. The most prominent rate of growth was recorded in 2014 an increase of 7.8%. As a result, the export price attained the peak level of $1.9 per pair. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($2.2 per pair), while China ($0.4 per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+0.3%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform