The hosiery market in Cyprus, comprising synthetic fibers, has experienced a general decline over recent years, with a market size value of $1.6809 million in 2023. A continuous decrease from 2013 until 2020 was slightly offset by an uptick in 2021, before reverting to gradual declines again in 2022 and 2023. Notably, the year-on-year variation in 2023 was -2.17%, and over the last five years, the CAGR averaged at -2.17%, highlighting this negative trend.
Future trends to watch for include:
- Potential shifts in consumer preference towards sustainable and natural fibers, impacting synthetic hosiery demand.
- Technological advancements in fabric production that could enhance synthetic hosiery appeal and marketability.
- Economic fluctuations that might influence consumer spending in the fashion and apparel sector, including hosiery.
