South Africa: Women Hosiery Market 2024

Women Hosiery Market Size in South Africa

In 2022, after two years of decline, there was significant growth in the South African women hosiery market, when its value increased by 7% to $X. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Women Hosiery Production in South Africa

In value terms, women hosiery production expanded significantly to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by 28%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Women Hosiery Exports

Exports from South Africa

Women hosiery exports from South Africa contracted to X pairs in 2022, waning by -2.5% compared with the year before. Overall, exports continue to indicate a pronounced descent. The pace of growth appeared the most rapid in 2018 with an increase of 39%. As a result, the exports attained the peak of X pairs. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, women hosiery exports declined modestly to $X in 2022. The total export value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 22%. As a result, the exports attained the peak of $X, and then contracted slightly in the following year.

Exports by Country

The United States (X pairs), Namibia (X pairs) and Botswana (X pairs) were the main destinations of women hosiery exports from South Africa, together comprising 57% of total exports. Swaziland, Lesotho, Zambia and the UK lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +4.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for socks, stockings and other women's hosiery exports from South Africa, comprising 41% of total exports. The second position in the ranking was held by Namibia ($X), with a 15% share of total exports. It was followed by the UK, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Namibia (-1.6% per year) and the UK (+6.6% per year).

Export Prices by Country

In 2022, the average women hosiery export price amounted to $X per pair, therefore, remained relatively stable against the previous year. Over the period under review, export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, women hosiery export price increased by +64.5% against 2018 indices. The most prominent rate of growth was recorded in 2019 an increase of 47%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per pair), while the average price for exports to Zambia ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Namibia (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Women Hosiery Imports

Imports into South Africa

In 2022, approx. X pairs of socks, stockings and other women's hosiery were imported into South Africa; with an increase of 5.7% compared with 2021. Over the period under review, imports recorded a modest expansion. The growth pace was the most rapid in 2017 with an increase of 41% against the previous year. Over the period under review, imports hit record highs at X pairs in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, women hosiery imports rose sharply to $X in 2022. In general, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +46.8% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 34% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X pairs) constituted the largest supplier of women hosiery to South Africa, with a 87% share of total imports. Moreover, women hosiery imports from China exceeded the figures recorded by the second-largest supplier, Lesotho (X pairs), more than tenfold. The third position in this ranking was held by Indonesia (X pairs), with a 1.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Lesotho (+14.5% per year) and Indonesia (+98.8% per year).

In value terms, China ($X) constituted the largest supplier of socks, stockings and other women's hosiery to South Africa, comprising 79% of total imports. The second position in the ranking was taken by Lesotho ($X), with a 3% share of total imports. It was followed by Indonesia, with a 2.3% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Lesotho (+24.6% per year) and Indonesia (+99.7% per year).

Import Prices by Country

The average women hosiery import price stood at $X per pair in 2022, increasing by 3.9% against the previous year. In general, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, women hosiery import price increased by +105.0% against 2019 indices. The pace of growth was the most pronounced in 2020 when the average import price increased by 70%. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per pair), while the price for Vietnam ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lesotho (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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