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Hosiery Market is Expecting Worldwide Growth by 2022
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Rising awareness of consumers for quality, durability, fashion and style as well as personal grooming consciousness are some of the factors driving the growth of hosiery market. Over the past few years, it has been noticed that not the women hosiery segment is rising but the demand for such products are showcasing a robust growth from the men’s segment due to increasing trends in apparel and fashion. The hosiery is anticipated to observe a rapid growth in terms of both volume and value during the forecast period.
Rising personal disposable income along with changing lifestyle is anticipated to expand the growth of global hosiery market during the forecast period. Apart from this, propagation of modern retail formats such as supermarkets, discount stores, and pharmacy stores is resulting in increasing product visibility. This enables easier accessibility to clothing products such as hosiery to consumers.
The increasing sales from online commerce sector is fuelling the growth of global hosiery market as it saves the time of buyers and offer various discounts on the products. Thus, the online store is expected to be the fastest growing segment which is anticipated to expand the growth of global hosiery market over the forecast period.
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Global hosiery market is segmented by: products, size, demography, price range, distribution channel and by region. Global Hosiery Market by Products: Body stockings, Compression Stockings, Knee highs, Hold-ups, Stockings, Socks, Tights, Toe Socks. Global Hosiery Market by SIZE: Small, Medium, Large, Plus. Global Hosiery Market by Demography: Men, Women. Global Hosiery Market by Price Range: Premium, Mid, Low. Global Hosiery Market by Distribution Channel: Mass Merchant, Mono-Brand Outlet, Online Store, Departmental Store, Others (Pharmacy Store).
Geographically, the Global Hosiery industry can be divided by major regions which include North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, Middle East and Africa. European region captured the highest share in the global hosiery market in 2015 followed by it the U.S. together capturing a share of around 60% in the same year. Robust economic growth along with rising personal disposable income in Asian countries such as India and China is expected to create more demand for comfortable and stylish hosiery which is expected to boost the growth of Asia-pacific region during the forecast period.
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The market is highly fragmented with presence of large number of small and local players all across the world. Some of the leading players in organized sector identified across the value chain of the global Hosiery market include Hanesbrands Inc., Gildan Activewear, CSP International, L Brands, Golden Lady SpA, LVMH, Accorn Products, Jockey International and others. Rising number of merger and acquisition is expected to be major business strategy which the manufacturers will adopt in order to increase their presence in global hosiery market in future.
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