New report: International hosiery markets
Global hosiery trade, including socks, tights, tights, compression stockings and stockings, is expected to rebound in 2021, according to International Hosiery Markets, a 25-page report from the global news company Textiles Intelligence sales. But growth in 2022 and beyond is expected to return to low numbers.
The rebound will follow a 13.7% drop in 2020, when global hosiery exports fell to their lowest level since 2010. The drop reflected the impact of the COVID-19 pandemic, and the market recovery in the years to come is a cause for concern. as several threats loom.
The forecast for 2022 is based on the assumption that global economic uncertainties will persist – particularly in the EU and the US, the two main consumer hosiery markets – as the global economy recovers from the pandemic of Hosiery. COVID-19.
The world economy has also been negatively affected in recent years by protectionist measures, including additional tariffs on U.S. imports from China, and these measures are expected to continue to have a negative impact on trade growth in the countries. years to come.
In the case of hosiery in particular, the additional tariffs on US imports from China are expected to shift part of Chinese production to lower-cost countries in Asia, notably Bangladesh, India. , Indonesia, Pakistan and Vietnam.
That said, many of these low-cost countries do not have the infrastructure in place to produce the high volumes that Chinese industry is capable of producing.
The largest hosiery exporting countries, including Italy, Turkey and the United States, have historically been relatively high-priced suppliers. However, many of these countries’ exports have declined in recent years as new players in low-cost Asian countries have made significant gains at their expense.
In the case of hosiery imports, growth in the two largest markets, namely the US and the EU, is expected to be minimal in the coming years as these markets are mature and the economic outlook in these markets is poor. .
In fact, most of the growth in import markets is expected to occur in emerging Asian markets, reflecting the rapid expansion of the upper and middle classes in a number of countries in the region.
As a result, it is expected that there will be upheavals resulting from changes in short to medium term supply trends and such upheavals could negatively affect world trade as a whole.
At the same time, however, this should create opportunities for new players to enter the market.
Opportunities are also expected to arise due to the implementation and increasingly widespread use of Industry 4.0 production methods, which will enable mass customization and productivity improvements.
The “International Hosiery Markets” report is available for purchase from Knitting industry, on the link below.
International hosiery markets
Other recently published reports include:
Editorial: Contrasting Fortunes of the Textile and Clothing Industries in Pakistan and Vietnam
Global textile and clothing trade and production trends: China, Hong Kong, Japan, South Korea and Taiwan, October 2021
Survey on European thread fairs fall / winter 2022/23
Product developments and innovations in the home textiles market, October 2021
Trends in EU textiles and clothing imports, 2021