Sales of hosiery have been hit hard by the impact of COVID-19, although broadly speaking demand for these products has weakened over the review period, with consistent decline in value sales in real terms. This reflects changing consumer habits.
The onset of the pandemic has inhibited sales in other ways. The primary consumers of hosiery are professional white-collar workers who wear formal footwear.
Over the review period, sales of hosiery began to see growth driven by changing trends in exercise. Demand for these products has risen in line with sports performance footwear.
Anticipated economic recovery from the end of 2021 is set to lift sales of hosiery over the forecast period, with growth being more robust from 2022. This is not simply a question of people with more money in their pockets deciding to buy more socks, but increased incomes driving sales of complementary products.
White collar workers who wear formal footwear will continue to be the key consumers of hosiery. As the professional workspace recovers in the wake of the pandemic and the country returns to economic growth demand for hosiery such as socks in support of this trend will be the key driver going forward.
Non-sheer hosiery like socks is the most significant category in Nigeria, whilst the sheer hosiery category remains small as wearing stockings and tights is not customary amongst Nigerian women, largely because of the hot weather. Socks complement a variety of footwear and are also an important product demanded by the growing baby and toddler population.
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Understand the latest market trends and future growth opportunities for the Hosiery industry in Nigeria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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This report originates from Passport, our Hosiery research and analysis database.
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