Hosiery Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe
global hosiery market size is expected to reach USD 44.2
billion by 2025, according to a new report by Grand View Research, Inc.,
expanding at a CAGR of 4.0% over the forecast period. Shifting inclination of
the consumers towards apparel with excellent functional and fashionable
characteristics is expected to promote the use of hosiery. It has been observed
that many hosiery products are used by the people who are suffering from
varicosities and leg disorders.
Rising
fitness enthusiasts at the global level as a result of increased number of
campaigns through social media and satellite channels on healthy lifestyle is
expected to promote the use of hosiery products as a comfortable product, which
protect legs during workout. Furthermore, fitness professionals and athletes
prefer hosiery over cotton socks due to the former’s ability to increase the
blood flow. Rising number of sports professionals in developing countries including
China, India, South Korea, Brazil, and Mexico owing to improvement in sports
infrastructure at the domestic level is expected to expand the scope for
hosiery over the next few years.
The men
application segment is expected to expand at the fastest CAGR of 4.5% from 2019
to 2025. A large number of population is suffering from different types of leg
circulation problems, including venous insufficiency and skin color change.
Such population prefers to use long length skin color products for trendy and
normal leg looks. Key manufacturers are working on product innovation and
improvement to get a competitive advantage in the market. For instance, winter
and wet tights offered by Stolen Goat Ltd. received tremendous response from
the consumers as these tights are specially designed to wear when temperature
goes below 6 degrees. Buyers can comfortably enjoy their activity with this
product.
The market
in Asia Pacific is anticipated to witness significant growth in light of
improving living standards and increasing disposable income, especially in
China and India. Moreover, growing trend of personal appearance is expected to
be boost market growth in the region over the next few years. Top U.S. brands
are effectively expanding their business in Asia Pacific to tap the growing
markets including China and India through establishment of their subsidiaries
and formation of strategic alliances with distributors. Furthermore,
implementation of various government initiatives in order to increase consumer
awareness about health benefits associated with sports events is expected to
expand the scope for sports apparels including hosiery.
Some of the
major companies operating in this market are Gildan Activewear; Hanesbrands;
Spanx, Inc.; Golden Lady; Adidas America Inc.; Jockey; Golden Lady SpA; and
Carolina hosiery. The industry participants are expected to increase the
spending on new product developments in order to gain the maximum market share.
Further key
findings from the report suggest:
- Non-sheer
products dominated the market with 85.7% share in 2018. Sheer products are
projected to ascend at a CAGR of 5.1% from 2019 to 2025 due to their high
adoption among population with varicosities and leg disorder as they can
hide marks on their legs
- By application,
women held a leading share of 82.0% in 2018 due to predominant use of
these products among working class professionals in airline and healthcare
sectors
- North America
dominated the global market in 2018, accounting for 37.4% share of the
global revenue due to increasing importance of workplace casualization and
athleisure trend in U.S. and Canada
- Asia Pacific is
the fastest growing region, expanding at a CAGR of 5.0% from 2019 to 2025
as a result of increasing demand among the sports professionals in
developing nations including China and India.
Access
full research report on global hosiery market:
www.grandviewresearch.com/industry-analysis/hosiery-market
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Created on Dec 12th 2019 04:46. Viewed 564 times.