The hosiery made of cotton market in Cyprus has experienced a general decline since 2013, with a marked drop in market size value by 2023, standing at 6.5468 million USD. The market showed brief recovery periods in 2016 and 2017 but resumed a downward trajectory afterwards. The year-on-year decline from 2022 to 2023 was 1.64%, consistent with the limited variations observed since 2019. The overall compound annual growth rate for the last five years was -1.84%, illustrating a persistent contraction since 2018.
Looking to the future, potential trends include increased demand for sustainable and ethically sourced cotton hosiery, spurred by heightened consumer environmental awareness. Adapting to digital sales strategies and leveraging new technologies in production may also present growth opportunities.
