The Global Market for Hosiery (Women and Men) is Projected to Reach US$27.4 Billion by 2020
Robust Demand for Comfortable and
Stylish Hosiery Drives the Global Hosiery Market, According to a New Report by Global Industry Analysts, Inc.
GIA announces the release
of a comprehensive global report on Hosiery (Women and Men). The
global market for Hosiery (Women and Men) is projected to reach US$27.4 billion
by 2020, driven by the increasing desire of consumers to keep abreast of
fashion trends, and favorable demographic and economic trends in the developing
countries.
Over the years, the humble
hosiery, also referred to as legwear, has grown to become an important fashion
apparel. With the craze for structure and shape enhancement becoming
increasingly pronounced in the fashion world, the market for hosiery is
witnessing an upswing. Changing lifestyles and demographic factors are bringing
about changes in demand patterns for hosiery. Given that the expenditure on
accessories such as hosiery is largely determined by factors such as income,
family size and education, the rapidly expanding affluent base of middle class
population in developing countries bodes well for the market.
Future growth in the
market will be driven by innovation in aesthetics as well as functional product
features. Poised to witness healthy demand are products with features such as
stronger elastics to create appropriate compression to increase blood
circulation, anti-cellulite hosiery that help impart sculpted body shape,
hosiery with weather-adaptive and supportive features such as silver-based
microbial finishes for greater hygiene and comfort. The hosiery
market is also moving beyond the traditional black color and sober patterns.
Some of the emerging trends that are playing an important role in transforming
market dynamics include python print tights, colored tights, striped tights, as
well as patterned styles of over-the-knee socks. Apart from this, stirrups tights, dotted prints, lace and
mesh, geographical netting, floral v/s fence, bold hued, deep blue sea, as well
as geo grid also represent other popular trends in the tights segment. Demand for hosiery products for older and plus-size
consumer categories is also expected to witness sturdy growth encouraged by
rapidly aging population and increased incidence of obesity worldwide.
As stated by the new
market research report on Hosiery (Women and Men), Europe represents the
largest market worldwide, followed by the United States. Asia-Pacific
represents the fastest growing market with volume sales projected to grow at a
CAGR of 5.0% over the analysis period. Relatively low product penetration,
large population base, rapid urbanization and westernization of lifestyles,
rising disposable income levels, aggressive retail marketing, increasing health
and beauty awareness levels, and growing fitness consciousness represent key
growth drivers in the region. China represents the largest producer of hosiery
in the world with a strong presence in the manufacture of synthetic hosiery
products. Segment-wise, Socks represent the largest segment in the hosiery
market both in terms of value and volume sales.
Key players covered in the
report include CSP International SpA, Golden Lady SpA, Kayser-Roth Corporation,
Gildan Activewear Inc., Gold Toe-Moretz, LLC, Hanesbrands, Inc., Iconix Brand
Group, Inc., L Brands, LVMH, Donna Karan International, Sculptz, Inc., Trerè
Innovation s.r.l., and Wolford AG, among others.
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