From 2012 to 2022, the Australian hosiery market made of cotton showed a fluctuating trend with occasional dips and subsequent recoveries. The market value saw a significant increase between 2012 and 2013 with a 28.36% rise, followed by more moderate growth until 2015. A slight decline occurred from 2016 to 2017, but the market demonstrated resilience, recovering modestly from 2018 onwards. Over the past five years, the compound annual growth rate (CAGR) averaged 1.79%, signifying slow and steady growth.
In 2024, the market is estimated to continue this trend, observing progressive albeit modest increases in value. The focus should be on:
- Consumer preferences for sustainable and eco-friendly products.
- Technological advancements in textile production and design.
- Marketing strategies targeting younger demographics.
- Impact of global economic conditions and trade policies.
