PUBLISHER: Allied Market Research | PRODUCT CODE: 1396853
PUBLISHER: Allied Market Research | PRODUCT CODE: 1396853
The global hosiery market was valued at $40.5 billion in 2022, and is projected to reach $62.4 billion by 2032, growing at a CAGR of 4.5% from 2023 to 2032.The term "hosiery" specifically implies knitted foot and leg covers. Hosiery is composed of stretchy fabrics such as nylon, spandex, and or a mix of these, allowing the clothes to fit securely and pleasantly on the body. On smaller-diameter circular machines, most hosiery goods are knitted with integrated tubular legs and feet. Typically, the border and top are knit first, followed by the foot and toe. A secure finish is also produced by closing the toe. Hosiery garments are commonly worn as undergarments and are employed in the medical field.
Recent years have witnessed online shopping as an emerging segment in the sales channel. The world has accepted the usage of digital mediums for shopping. The benefits of online shopping include convenience, time savings, and the ability to access various selections with a single click. With the advent of the COVID-19 pandemic, consumers were forced to shift toward online shopping. According to United Nations Conference on Trade and Development (UNCTAD), in 2021, the e-commerce industry grew, with online retail sales increasing from 16% to 19% of overall retail sales. According to the report, online retail sales by percentage were highest in the Republic of Korea which rose from 20.8% in 2018 to 25.9% in 2021. The increasing percentage shows that consumers are shifting toward online shopping and the popularity of online shopping is rising. The availability of internet access and increasing consumer adoption of online shopping due to its benefits such as convenience, timesaving, and discounted prices are expected to boost the expansion of online channels. The increase in online shopping is expected to increase the sales of hosiery through digital mediums.
Cotton, wool, rayon, acrylic, nylon, and, most recently, spandex have all been utilized in the hosiery business. The acceptance of spandex goods for women's transparent dress clothes has grown in recent years, keeping up with worldwide current fashion styles and trends. In addition to the warmth and appeal that hosiery provides, the hosiery clothing industry has seen a dizzying array of garments with varying fits and forms throughout the years. The increased demand for nylon in recent years has boosted hosiery sales tremendously. However, in the past few years, the focus has shifted to adult attire made of various materials.
The hosiery market is segmented into product type, gender, distribution channel, and region. By product type, the market is classified into socks, stockings, tights, and leggings. As per gender, the market is classified into men and women. According to distribution channel, the market is classified into retail stores and online retail. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (France, Germany, the UK, Italy, Spain, Russia, and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and the rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, UAE, Saudi Arabia, and rest of LAMEA).
Players operating in the global hosiery market have adopted various developmental strategies to expand their hosiery market share, increase profitability, and remain competitive in the market. Key players profiled in this report include Hanesbrands Inc., CSP International, LVMH, Jockey International, Gildan Activewear, L brands, Golden Lady SpA, Spanx, Inc., Renfro Corporation, and Carolina Hosiery Mills, Inc.
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