When China entered lockdown due to COVID-19, many worldwide hosiery companies turned to Taiwan for their manufacturing orders, as Taiwanese manufacturing remains relatively cheap. However, as the COVID-19 situation became more stable in China, many global companies reverted to ordering their products from Chinese hosiery manufacturers.
Hosiery only comprises a small part of apparel in Taiwan. Therefore, to cope with the unstable demands during the COVID-19 pandemic, hosiery companies expanded their range to include new products from other apparel categories, such as underwear or apparels accessories.
Domestic player Sun Flower Co will continue to lead sales of hosiery in 2020, supported by its affordable prices and products made from functional fabrics. The company continues to leverage its strength in the textile industry to offer socks featuring unique designs and breathable fabrics.
Many consumers are expected to remain price conscious following the COVID-19 pandemic and nervous to shop at in-store retailing channels, at least whilst the virus remains a threat. This will limit the development of luxury hosiery in Taiwan, while supporting the development of more affordable products, especially from fast-fashion retailers such as Uniqlo.
Over the forecast period, players within hosiery in Taiwan will look to boost current value sales by offering more personalised designs and additional features. Hosiery has become a notable item in recent years with foreign brands and local start-ups making colourful pairs and adding quirky designs.
As with many areas of apparel and footwear, the athleisure trend is having an influence on hosiery in Taiwan, with it is set to boost demand in non-sheer hosiery. Consumers are showing growing demand for sports and trainer socks that match their outfits, thus benefiting players such as Nike and adidas.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Hosiery industry in Taiwan 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.
If you're in the Hosiery industry in Taiwan, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Hosiery research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page