Philippines: Pantyhose Market 2024

Pantyhose Market Size in the Philippines

The Philippine pantyhose market contracted to $X in 2022, with a decrease of X% against the previous year. Overall, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Pantyhose Production in the Philippines

In value terms, pantyhose production dropped to $X in 2022 estimated in export price. In general, the total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Pantyhose Exports

Exports from the Philippines

After three years of growth, overseas shipments of pantyhose and tights decreased by X% to X pairs in 2022. Overall, exports continue to indicate a pronounced slump. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The exports peaked at X pairs in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, pantyhose exports skyrocketed to $X in 2022. In general, total exports indicated a mild expansion from 2017 to 2022: its value increased at an average annual rate of X% over the last five-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Japan (X pairs) was the main destination for pantyhose exports from the Philippines, accounting for a X% share of total exports. Moreover, pantyhose exports to Japan exceeded the volume sent to the second major destination, China (X pairs), fourfold. Germany (X pairs) ranked third in terms of total exports with an X% share.

From 2017 to 2022, the average annual rate of growth in terms of volume to Japan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Germany (X% per year).

In value terms, Japan ($X) remains the key foreign market for pantyhose and tights exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by Germany, with an X% share.

From 2017 to 2022, the average annual growth rate of value to Japan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Germany (X% per year).

Export Prices by Country

The average pantyhose export price stood at $X per pair in 2022, growing by X% against the previous year. Over the period from 2017 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2018 an increase of X%. As a result, the export price attained the peak level of $X per pair; afterwards, it flattened through to 2022.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per pair), while the average price for exports to India ($X per pair) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Pantyhose Imports

Imports into the Philippines

In 2022, imports of pantyhose and tights into the Philippines contracted rapidly to X pairs, shrinking by X% against the previous year's figure. Over the period under review, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, imports attained the peak of X pairs. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, pantyhose imports reduced sharply to $X in 2022. In general, imports continue to indicate a perceptible descent. The pace of growth appeared the most rapid in 2019 with an increase of X%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X pairs), Vietnam (X pairs) and Cambodia (X pairs) were the main suppliers of pantyhose imports to the Philippines, with a combined X% share of total imports.

From 2017 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest pantyhose suppliers to the Philippines were China ($X), Vietnam ($X) and Cambodia ($X), together accounting for X% of total imports.

Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average pantyhose import price amounted to $X per pair, waning by X% against the previous year. Over the last five years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The import price peaked at $X per pair in 2021, and then dropped in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Cambodia ($X per pair) and Vietnam ($X per pair), while the price for Singapore ($X per pair) and Pakistan ($X per pair) were amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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