The global Hosiery Market is expected to reach USD 44.2 billion by 2025, according to a new report by Million Insights. It is anticipated to grow at a CAGR of 4.0% over the forecasted years, 2019 to 2025. An increase in the concern about the appearance and well-being among the millennials is expected to drive the market. Moreover, rapid urbanization and an increase in disposable income among the working population has indulged the consumers to spend more on personal grooming and apparels. These factors are expected to boost the growth of this market across the globe.
Another factor that is driving the demand for the market is the emerging e-commerce industry. Recent product launches of fashioned clothes, sportswear, professional clothes and lingerie on e-commerce websites such as Amazon, Alibaba, E-bay, etc. is expected to dominate the market in the upcoming years. The sale through the online channel is expected to upsurge in the countries of China, India, Brazil, Mexico during the forecasted period owing to the increasing population and ease of shopping.
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The region of Asia Pacific is expected to drive the market for hosiery, expanding at a CAGR of 5.0% during the upcoming years, 2019 to 2025. This revenue growth is attributed to the increase in the standard of living and the trend of continuous improvement in the personal appearance among the millennials. Many of the top U.S. brands such as H&M, Adidas, Decathlon and Jockey are opening their retail stores in the developing regions of Asia Pacific to cater to the increasing demand form the markets of countries like China, India, and Japan. As these countries are attracting more players, the demand for hosieries is expected to boost during the forecasted period.
The men application segment in the hosiery is anticipated to increase at a significant growth rate generating a CAGR of 4.5% during the forecast period, 2019 to 2025. This can be attributed to increasing problems of blood circulation due to skinny fit clothes such as jeans or trousers. Thus, they are often replaced by other clothes that generate demands. Also, the latest fashion trends and an increase in the awareness about personal health are expected to boost the market for sports wears and undergarments in the upcoming years.
Various initiatives conducted by the statutory governing bodies or the local authorities to improve the health among people is expected to boost the market growth. Also, the promotional activities carried out by the manufacturers to boost their sales and to create the trends in the fashion industry is expected to boost the market growth.
The market for Hosiery has become competitive in nature due to presence of large number of players in the market. Some of the major players are Adidas America Inc., Jockey, Golden Lady, Hanes, etc.
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Further key findings from the report suggest:
• The non-sheer hosiery products segment acquired the largest share of 85.7%, in 2018. The sheer products are expected to grow at a higher CAGR of 5.1% from 2019 to 2025. This growth can be attributed to the need for hiding the marks on body arising due to issues like varicosities and other leg disorders.
• As the consumption of these products is predominant among women working in the industries like healthcare and airlines, women held larger share of 82.0% in the application segment.
• In 2018, North America dominated the global market for hosiery with the largest share of 37.4%. This can be attributed to the growing acceptance of casuals at workplace and athletic leisure trends.
Million Insights has segmented the global hosiery market based on product, application, and region:
Hosiery Product Outlook (Revenue, USD Billion, 2015 – 2025)
Hosiery Application Outlook (Revenue, USD Billion, 2015 – 2025)
Hosiery Regional Outlook (Revenue, USD Billion, 2015 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
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