Global Hosiery Market

Hosiery Market Size, Share, Growth Analysis, By Product(Socks, Body Stockings), By Application(Women, Men), By Distribution Channel(Supermarkets, Specialty Stores) - Industry Forecast 2024-2031


Report ID: SQMIG25K2092 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 91 | Figures: 66

Hosiery Market Insights

Hosiery Market was valued at USD 37.4 billion in 2019 and it is expected to reach a value of USD 50 billion by 2031, at a CAGR of 4.2% over the forecast period (2024-2031).

Rising importance of hosiery products to fulfill the need for durable clothing, excellent comfort, and providing leg fatigue are the major factors driving the growth and demand for the global hosiery market over the forecast period. In addition, continuously growing demand for these products by the female consumers due to its several features including virtually invisible and provides natural and shiny looks is also anticipated to propel the growth of the market in the coming years.

Major companies of the market are increasing their focus on the innovation of new and different types of fabric designs such as striped tights, stirrup tights, and patterned over-the-knee socks. Leading manufacturers are using laser and ultrasonic technology for the development of product quality and design to attract a large base of consumers across the globe. In addition, by using this type of advanced technologies, they are able to provide perfect edge cutting in very less time and can also prevent fraying.

Moreover, the emergence of e-commerce has resulted in shifting consumer preference towards online shopping because of the ease of availability of products, hassle free and more convenient shopping features offered by several online retailers. As a result, the global hosiery market is also expecting a boost in the demand over the forecast period. Additionally, easy returns and free delivery are some other factors which are creating lucrative growth opportunities for the global market.

US Hosiery Market is poised to grow at a sustainable CAGR for the next forecast year.

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FAQs

Hosiery Market was valued at USD 37.4 billion in 2019 and it is expected to reach a value of USD 50 billion by 2031, at a CAGR of 4.2% over the forecast period (2024-2031).

The hosiery market is fairly fragmented with the presence of many well-known regional and players around the world. With the growing demand and penetration for online shopping, the major key players of the market are mainly focusing on making their online presence strong and continuously bringing new innovations for gaining consumers' attention. In addition, acquisition, mergers, collaboration, and strategic partnerships are some other strategies on which key players are implementing. 'Hanesbrands Inc.', 'Jockey International Inc.', 'CSP International Fashion Group S.P.A.', 'Wolford AG', 'Adidas America Inc.', 'Spanx Inc.', 'Gilden Activewear', 'Kayser-Roth', 'Donna Karan International', 'Triumph Apparel Corporation'

Increasing demand for legwear hosiery garments among both men and women consumers across the globe is a major key factor projected to drive the hosiery market over the forecast period. In addition, growing awareness of benefits of hosiery products such as high moisture absorbency, free airflow, very lightweight fabric, and softer and smoother quality are also likely to be another key driving factor for the market growth.

Adoption of several new and advanced technologies such as ultrasonic and laser technologies for the production of hosiery products worldwide is likely to impact the hosiery market positively in the next coming years. Availability of advanced and innovative technology specially in developed economies due to the high investment on research & development activities through various private and government bodies, is fueling the market demand and creating lucrative growth opportunities for the coming years.

Globally, North America dominated the hosiery market in 2021 and accounted for a strong market share. Rising demand for stylish, designer, and comfortable fabric products from the consumers especially in developed countries like United States and Canada are projected to be the major factors driving the growth of the market in the region during the forecast period. In addition, the rising investment from the key market players in research & development sector and early adoption of advanced technology for creating attractive products are also anticipated to boost the market growth in the region. For instance, in October 2021, Blackstone Inc., acquired a large stack of SPANX Inc. The extensively growing digital transformation and footprint of SPANX in various categories will be accelerated by the acquisition. The main aim of the acquisition is to develop more innovative and attractive products.

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Global Hosiery Market

Product ID: SQMIG25K2092

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