The hosiery made of cotton market size value per capita in Sri Lanka has witnessed a consistent decline from USD 0.93 in 2013 to USD 0.64 in 2023. Over the past two years, the value decreased by approximately 4.48% in 2022 and 3.13% in 2023. Analyzing the last five years, the compound annual growth rate (CAGR) was approximately -2.14%, indicating a steady downtrend.
Future trends to watch for include:
- Growing interest in sustainable and eco-friendly products potentially reversing the decline.
- The impact of economic factors on consumer spending and disposable income.
- Market diversification and potential entry of new players altering competitive dynamics.
