ASEAN: Women Hosiery Market 2024

Women Hosiery Market Size in ASEAN

The ASEAN women hosiery market rose remarkably to $X in 2022, surging by 5.9% against the previous year. The total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -9.7% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Women Hosiery Production in ASEAN

In value terms, women hosiery production reached $X in 2022 estimated in export price. The total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.8% against 2020 indices. The pace of growth was the most pronounced in 2019 with an increase of 19% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Women Hosiery Exports

Exports in ASEAN

In 2022, women hosiery exports in ASEAN soared to X pairs, surging by 30% on the previous year's figure. Over the period under review, exports continue to indicate a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, women hosiery exports skyrocketed to $X in 2022. In general, exports posted buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam (X pairs) and Indonesia (X pairs) represented roughly 75% of total exports in 2022. Thailand (X pairs) ranks next in terms of the total exports with a 15% share, followed by Cambodia (5.6%).

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +19.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Indonesia ($X) and Thailand ($X) were the countries with the highest levels of exports in 2022, with a combined 89% share of total exports.

Among the main exporting countries, Vietnam, with a CAGR of +20.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per pair in 2022, surging by 12% against the previous year. In general, the export price saw a mild increase. The pace of growth was the most pronounced in 2017 an increase of 18%. The level of export peaked at $X per pair in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Indonesia ($X per pair) and Cambodia ($X per pair), while Vietnam ($X per pair) and Thailand ($X per pair) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+1.9%), while the other leaders experienced more modest paces of growth.

Women Hosiery Imports

Imports in ASEAN

In 2022, imports of socks, stockings and other women's hosiery in ASEAN skyrocketed to X pairs, surging by 26% compared with the previous year's figure. In general, imports posted prominent growth. The pace of growth appeared the most rapid in 2019 when imports increased by 33% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, women hosiery imports soared to $X in 2022. Over the period under review, imports recorded a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Thailand (X pairs) represented the largest importer of socks, stockings and other women's hosiery, comprising 54% of total imports. Malaysia (X pairs) ranks second in terms of the total imports with a 20% share, followed by Vietnam (17%). Singapore (X pairs), Indonesia (X pairs) and the Philippines (X pairs) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to women hosiery imports into Thailand stood at +16.4%. At the same time, Vietnam (+41.2%), Indonesia (+6.5%) and Malaysia (+1.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +41.2% from 2012-2022. The Philippines experienced a relatively flat trend pattern. By contrast, Singapore (-1.2%) illustrated a downward trend over the same period. While the share of Thailand (+23 p.p.) and Vietnam (+16 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the Philippines (-2.8 p.p.), Singapore (-7.7 p.p.) and Malaysia (-27.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X), Malaysia ($X) and Indonesia ($X) constituted the countries with the highest levels of imports in 2022, with a combined 82% share of total imports.

Vietnam, with a CAGR of +37.6%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per pair, rising by 122% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per pair), while Thailand ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+29.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform