Analysis of the status quo of China's cotton socks industry

According to the "China Cotton Socks Market Development Status Research and Investment Prospect Forecast Report (2022-2029)" released by Guanyan Report Network, cotton socks are a kind of socks, which are clothing items worn on the feet and have a warming effect. There are several kinds of stockings, tube socks, boat socks and so on. The industrial chain of the cotton socks industry consists of three links: upstream raw materials, midstream weaving, and downstream retailing; the upstream is raw materials such as cotton, spandex, nylon, nylon, and dyes; the midstream is the manufacture and production of cotton socks; the downstream is supermarkets and clothing stores , e-commerce platforms and other retail channels.

Cotton socks are daily necessities with low unit price and fast consumption, so their demand is more stable than other clothing industries. In terms of output, under the background trend of digitalization and intelligent manufacturing, Chinese hosiery companies have begun to develop digital management systems, which has led to a year-by-year increase in hosiery production, and is now the world's largest cotton hosiery producer. Among them, the production capacity of Datang Town, Zhuji City, Zhejiang Province accounts for about 70% of the country and 30% of the world.

From the overall point of view of supply and demand, the domestic market of China's hosiery industry has been in the form of oversupply. Data show that in 2019, China's socks production reached 38.8 billion pairs, a year-on-year increase of 0.6%; demand was 35.2 billion pairs, a year-on-year increase of 0.6%; the ratio of production to consumption was 1.1. According to preliminary estimates, the output of socks in China will reach about 39.5 billion pairs in 2020, the demand will reach about ** billion pairs, and the ratio of output to consumption will be 1.12.

In terms of import and export, China is a famous exporter of socks in the world. During the period from 2014 to 2018, the export volume of socks in my country began to show an overall upward trend. However, since 2018, due to the impact of Sino-US trade frictions, the export volume of socks has shown a rapid decline. It is expected that with the rapid rise of raw material and labor costs, the production capacity of socks will gradually shift to countries with lower costs such as Southeast Asia. The number of my country's socks exports may further decline, and its share in the global socks market will also decline.

But in 2021, my country's socks export market will rebound. The data shows that as of November 2021, my country's cotton-made other socks exported 5.926 billion pairs, with an export value of 2.295 billion U.S. dollars; the import volume was 43 million pairs, and the import value was 42 million U.S. dollars. In 2020, the export volume of other cotton socks in my country was 5.733 billion pairs, and the export value was 2.052 billion US dollars. It can be seen that as of November 2021, my country's socks export volume has exceeded the export volume for the whole year of 2020.