Analysis of China's socks market in 2016 and industry trends
published time：2019-06-18
【summary】First, the status and sales comparison of the global socks industry. Socks are a necessity of life. The industry is huge and has entered a stage of steady development. In 2015, the consumption scale
First, the status and sales comparison of the global socks industry.
Socks are a necessity of life. The industry is huge and has entered a stage of steady development. In 2015, the consumption scale of China, Japan, the United States and Europe (Europe data from the three countries of the United Kingdom, France, and Germany) were US $ 15.36 billion, US $ 4.73 billion, US $ 7.77 billion, and US $ 5.27 billion. Europe, the United States, and Japan have earlier entered a stage of stable industrial development, and the compound growth rates for 2001-2010 and 2010-2015 have remained between 0% and 5% (excluding Japan from 2010-2015). Over the past 15 years, China's socks consumption has maintained rapid growth. The compound annual growth rates for 2001-2010 and 2010-2015 were 10.41% and 10.20%. It is predicted that in the next 5 years, the compound growth rates of socks in China, Japan, the United States and Europe will be 0.7%, 0.5%, 3% and 0.4%, respectively.
Japan is the country with the highest requirements for the quality of cotton socks in the world and has a great demand. In 2012, Japan ’s cotton socks consumption was 1.337 billion pairs, and domestic production was 190 million pairs, which was 6.39% lower than in 2011. The number of imported cotton socks accounted for 85.99% of its consumption, an increase of 0.29 percentage points from 2011. The domestic output of Japanese cotton socks has been decreasing year by year, but the ratio of imports to consumption has increased year by year. Among them, imports from China accounted for more than 85% of total imports.
Global gold absorption centers have gradually moved from developed countries to developing countries represented by China. In the 1970s and 1980s, global gold absorption centers moved from the United States, Italy, and other countries to Japan, South Korea, and Taiwan. Later, it turned to low-cost production in China, Turkey, India, and Pakistan. s country. The current competition pattern of socks is mainly represented by China, Turkey and Italy. China has the advantages of cheap labor resources and a complete textile and clothing industry chain, but the speed of industrial transformation and upgrading has stagnated, and labor costs are high. In the future, it will shift from a manufacturing center to a high-end manufacturing and R & D center. Turkey is on the edge of Europe's geographical position, but its production capacity cannot keep up with demand, geopolitical instability, and labor shortages, and it will not be able to accelerate the construction of manufacturing centers in the future. Italy is a traditional textile manufacturing center with advanced production technology and processes. It has strong competitiveness in the production of high-end socks, but due to high labor prices, it is gradually turning to high-end textile and equipment research and development.
The manufacturing center represented by Vietnam has the advantages of labor cost, taxation and resistance to trade barriers. In recent years, the knitwear industry has moved to Vietnam and Pakistan, with lower labor costs. In particular, the newly signed Trans-Pacific Partnership Association has accelerated this process. The comparative advantages of Vietnam's production bases in terms of labor costs and tax treatment are as follows:
Comparison of labor costs and tax treatment between China and Vietnam.
Secondly, the status and development trend of China's socks market are analyzed.
External demand for socks is getting weaker and the domestic knitwear industry has become very fragmented. The competitive pressure for manufacturing high-end products is less than that for low-grade products. According to Chinese customs statistics, the export value of Chinese socks fabrics in 2015 was 5.91 billion US dollars, a decrease of 4.21% over the previous year. Considering the impact of the TPP agreement, the cost advantage of Chinese knitwear companies may disappear, and exports will be difficult to recover in the short term. Specific performance of the competition pattern of domestic socks companies:
(1) Decentralization of the industry: Most cotton socks companies are small and micro enterprises with small production scale. They are distributed in Zhejiang, Jiangsu and Guangdong, and the situation will continue for some time to come.
(2) Low-end products: The company is small in scale, backward in production equipment, backward in technology, weak in independent research and development capabilities, single in product variety, serious in homogeneity, lack of market competitiveness, and difficulty in entering domestic and foreign high-end markets.
(3) The competition in the high-end market is relatively stable: the number of cotton socks manufacturers in the high-end market is small, and I am.
Zhuji Dongling Needle Textile Co., Ltd.
Zhuji Dongling Needle Textile Co., Ltd. Address: No. 47-61, Xinzhuang Road, Datang Town, Zhuji