Hosiery Market Report By Product Type (Body Stockings, Compression Stockings, Hold-ups, Socks, Tights), By Demography (Men, Women), By Price Range (Economy-priced, Mid-priced, Premium-priced), By Sales Channel (Modern Trade, Specialty Stores, Online) - Regional Forecast, 2021-2031
Hosiery Market Outlook
The global market for hosiery is anticipated to register steady growth, clocking a CAGR worth 4.8% across the forecast period ranging from 2021 to 2031.
|Market Value for 2021||US$ 60 Bn|
|Projected Value for 2031||US$ 80 Bn|
|Growth Rate (2021-2031)||4.8% CAGR|
|Expansion Rate of China||5.2% CAGR (2021-2031)|
By 2021, the industry is likely to generate worth US$ 60 Bn in value. Amongst all market, sales across China are expected to remain the highest, registering a CAGR worth 5.2%.
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Key Points Covered in Hosiery Industry Survey
- Market Estimates and Forecasts 2016-2031
- Key drivers and restraints shaping market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Hosiery and How to Navigate
- Recommendation on Key Winning Strategies
Sales Analysis of Hosiery Market during 2016-2020 Vs Future Outlook for 2021 to 2031:
Historically, sales of hosiery registered a compounded annual growth rate worth nearly 3% from 2016-2020. Besides being used as undergarments, hosiery applications are steady finding applications for various other functionalities- ranging from offering enhanced protection during sporting events to improving overall blood circulation within the body.
Amid the novel coronavirus pandemic, sales of hosiery products experienced varying degrees of fluctuations, with demand for sports apparel experiencing a substantial decline, attributed to cancellation of outdoor events in view of mandatory lockdowns. However, sales of hosiery products for everyday wear spiked considerably, as consumer resorted to online purchases.
In the forthcoming decade, the market is likely to pick up acceleration due to massive popularity of sports events like Olympics and Paralympics and resuming of social gatherings worldwide. The global hosiery market is escalated to surpass US$ 80 Bn, expanding 1.3x from 2021 to 2031.
An Adaptive Approach to Modern-day Research Needs
How are Documented Therapeutic Benefits Prompting Hosiery Usage in the Healthcare Sector?
The hosiery market is treading new growth trajectories underpinning the advent of products that can meet the demand for new sets of functionalities and derive new health benefits. The rising demand for hosiery in the sports industry reiterates these trends.
Besides, soaring popularity for the garments that support improved performance of sportspersons and athletes and in inhibiting muscle damage and injuries is a key factor bolstering the growth of the hosiery market.
For instance, the growing incidence of venous disorders among athletes has led to an attractive demand for hosiery products to minimize the risks. The substantial prospect of applications of hosiery in schlerotherapy for treating various leg disorders is also propelling the growth of the hosiery market. The growing demand of hosiery as compression stocking among worldwide populations is a key factor contributing large revenues to the overall market for hosiery.
How Will Changing Trends Impact the Hosiery Market?
The market for hosiery is treading on new growth trajectories underpinning the advent of products that can meet the demand for new sets of functionalities. The rising demand for hosiery in the sports industry reiterates these trends.
Demand for hosiery has been gathering steam amongst sportspersons to replace cotton stockings, notably among multi-sports athletes, for preventing risks of injury, improving blood circulation, and protecting against muscle damage. Design of hosiery by garment manufacturers to meet new performance needs of athletes is also boosting market growth.
Prominent players are advancing technologies like offering anti-bacterial sanitized yarn, organic products and non-compression, soft elastic socks to attract customers. Socks brands are offering blood pressure and diabetes socks to expand their customer base.
Nanotechnology, microfibers, and insulators are some widely known technologies being deployed across athletic wear. And these apparels are no more limited to sports persons and athletes. But athletic wear is growing to be popular with increasing interest for adventure and sports activities for fitness.
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Why China is Witnessing Upward Growth in Hosiery Market?
China, the world`s second largest economy, is forecast to reach a projected market size of US$ 151.4 Bn by the year 2026 trailing a CAGR of 5.2% over the analysis period. In order to promote hosiery industry, events like China International Hosiery purchasing expo (CHPE) are being organized.
As the only business platform in China's Hosiery industry, the show is dedicated to connecting manufacturers of hosiery products, machines and raw materials with extensive market distribution channels such as international distributors and retailers.
The presence of key manufacturers like Shaoxing Jinyu Printing and Dyeing Co.,Ltd, JinHua Mengna Textile Co, Ltd, Yiwu Aurora Machinery Co., Ltd., Xinchang Weilite Textile Machinery Co., Ltd., Suzhou Yipin Fashion Gift Co., Ltd. and others are expanding the market size of the Chinese hosiery industry.
Rising Participation in Sporting Events Stimulating Hosiery Sales in the U.S?
Over the years, rising health and fitness consciousness among adults has led to increased frequency of sports participation. According to statistics published by the Bureau of Labor Statistics, average daily participation in sports surged by 3.6% from 2003 to 2015. In 2003, nearly 16% of people over 15 years of age participated in some form of exercise, compared to 19.5% in 2015.
Furthermore, a dedicated sports diplomacy division has ensured that the state of domestic and international sporting events remain continuous and unceasing. As a consequence, various events with massive sponsorship contracts have made inroads into the U.S landscape. This has opened up revenue pools for various apparel, hosiery, food & beverage and consumer products manufacturers.
Various regional and international level hosiery manufacturers have capitalized on this ever broadening trend of sports apparel in recent years. For instance, Victoria’s Secret offers a range of high neck sports bras, along with a broad range of various sports apparel designed for women. A CAGR worth 4% is expected for the U.S market.
Which Demographic Segment Is Likely to Dominate the Hosiery Market?
In terms of demographics, the women segment will hold the largest share of 33.5% of the market in 2021, and is expected to remain dominant during the forecast period. Women traditionally have been contributing large chunk of revenue in the global hosiery market.
The wide array of choices that the hosiery market has been offering to this demographic is evident in the variety of socks and stockings, notably high-thigh stockings. The advent of hosiery with new prints and aesthetic values continue to influence feminine fashion sensibilities, reinforcing vast prospects for the overall market.
Will Online Hosiery Sales Pick Up Pace in the Long-Run?
According to Fact.MR, sales of hosiery via online sales channels are likely to gather significant traction in the forthcoming decade. As more customers frequent virtual platforms for bulk of their apparel purchases, various hosiery manufacturers have either partnered with e-commerce giants or introduced their own virtual platforms.
Prominent brands already operating in this space include Bonas (China), Naier (China), Jasan Group (China), Meetsocks (China), the Sock Factory (USA), Nester Hosiery (USA) , Golden Lady (Italy) and Viola Calzificio among others. Fact.MR expects the online segment to surge at a CAGR of 6% from 2021 to 2031.
Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions to expand their market ground.
- In October 2021, Spanx Inc. announced the conclusion of a definitive agreement with Blackstone wherein the latter will purchase a majority stake in the company, valued at US$ 1.2 billion. With this purchase, the company will be able to strengthen its virtual presence, strengthening its e-commerce presence and broaden its global footprint in the hosiery sector
- In March 2021, Adidas introduced its new strategy ‘Own the Game’ at a virtual Investor & Media Day. Main strategic focus of ‘Own the Game’ is to strengthen the credibility of the Adidas brand, to create a unique consumer experience and to continue to expand the company's activities in the area of sustainability. The new strategy is designed to significantly increase sales and profitability as well as gain market share until 2025.
|Historical Data Available for||2016-2020|
|Market Analysis||US$ Mn for Value & Units for Volume|
|Key Regions Covered||
|Key Countries Covered||
|Key Segments Covered||
|Key Companies Profiled||
|Pricing||Available upon Request|
Key Segments Covered
- Body Stockings
- Compression Stockings
- Knee-high/Hold-ups Hosiery
- Toe Socks
- Hosiery for Men
- Hosiery for Women
- Economy-priced Hosiery
- Mid-priced Hosiery
- Premium-priced Hosiery
- Super Premium-priced Hosiery
- Hosiery Sales via Modern Trade
- Hosiery Sales via Specialty Stores
- Hosiery Sales via Online Stores
- Hosiery Sales via Other Sales Channels
- FAQs -
As of 2021, sales of the hosiery products estimated to reach US$ 60 Bn
From 2016 to 2020, hosiery sales expanded at nearly 3%, according to Fact.MR
According to fact.MR, hosiery demand is projected to grow at a CAGR of 4.8% to reach US$ 80 Bn by 2031.
Growing interest in active sports and out-door leisure activities like flying, sailing, climbing and cycling has led to immense growth in the consumption of textile materials in manufacturing sportswear, leisure wear and related goods and equipment.
Specialized hosiery products to improve therapeutic outcomes, especially for venous disorders, will enhance their uptake in the healthcare industry
As per Fact.MR, hosiery sales in the U.S will likely surge at a CAGR of 4% until 2031
China is expected to be the fastest expanding market, expected to register a CAGR of 5.2% by 2031
Spanx, Adidas AG, Nordstrom, the Wolford AG, Jockey International, Inc., Golden Lady Company S.p.A., L Brands, Inc., CSP International Fashion Group S.p.A., Gildan Activewear Inc and Hanesbrands Inc. are some prominent manufacturers of hosiery products
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