the retail stores segment dominated the global market in 2022 and is expected to retain its dominance throughout the forecast period.
PORTLAND, OREGON, UNITED STATES, November 26, 2023 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Hosiery Market," The hosiery market was valued at $40.5 billion in 2022, and is estimated to reach $62.4 billion by 2032, growing at a CAGR of 4.5% from 2023 to 2032.
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Hosiery is a type of clothing that can be worn straight on the bottoms of the feet and legs. Stockings, pantyhose (tights), socks, and leggings are the types of hosiery available in the market. Hosiery is often comprised of elastic fabrics such as nylon, spandex, or a mix of these, allowing the clothes to fit tightly and pleasantly against the body.
Hosiery is both efficient and stylish, as it provides comfort and offers a style statement. Hosiery serves to keep the legs and feet warm, protected, and supported. It can also reduce the risk of blisters by preventing contact between the skin and the shoes. Furthermore, certain hosiery, such as compression garments, are meant to enhance blood circulation and relieve leg pain, such factors surge the hosiery market demand.
The hosiery market growth is highly influenced by the increasing participation of individuals in diverse dancing activities from all around the world. As dance culture reaches more and more sectors of daily life, from social gatherings to common forms of entertainment, the requirement for specialized hosiery that suits to the demands of dancers has increased significantly. This increase is linked to hosiery's critical role in improving dance performance, comfort, and aesthetics, which results as hosiery market trends. Professional and amateur dancers alike are increasingly recognizing the importance of suitable gear in optimizing their movements and exhibiting their skills. Hosiery, with its combination of adaptability, assistance, and sophistication, has emerged as an important part of clothing for individuals. Ballet and hip-hop dancers equally are looking for hosiery that gives the essential elasticity and breathability to enable a broad range of motion while also providing a visual charm to their outfits. This trend has sparked a surge of innovation in the hosiery sector, resulting in the creation of specialized goods intended to resist the challenges of dance practice and performance.
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The market's growing potential has been hindered by irregular changes in raw material pricing and manufacturing expenditures. Pricing instability presents difficulties for both producers and customers. Cost fluctuation interrupts production plans, restrict profit margins, and impedes long-term planning for businesses. This, in turn, has an influence on their ability to spend on R&D, restricting innovation and limiting their ability to deliver freshly developed and enhanced hosiery products to the marketplace. Consumers, on the contrary, confront unpredictability in cost, making it difficult to make plans and buy hosiery items. The combination of these problems results in reduced demand and constrained consumer readiness for investment in hosiery goods.
Consumers are becoming more interested in fashion options that correspond with their beliefs in environmentally friendly and ethical consumerism as worldwide awareness of environmental problems grows. In response to this growing demand, the hosiery industry has begun to adopt novel practices and materials that reduce its environmental impact. The introduction of biodegradable fibers, organic cotton combinations, and reused supplies has ushered in a new age of environmentally responsible hosiery manufacture. Sustainability-focused brands not only appeal to environmentally conscientious customers but also portray themselves as industry leaders in sustainable production. This dedication to environmentally responsible practices extend beyond the product, impacting its packaging, shipment, and overall brand culture. As the hosiery industry continues to shift toward more sustainable practices, it is set to capitalize on this substantial growth potential, consolidating its importance in a fast-changing consumer scenario.
The hosiery market analysis into product type, gender, distribution channel, and region. As per product type, the market is classified into socks, stockings, tights, and leggings. By 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).
According to product type, the socks segment dominated the market in 2022, and is expected to sustain its market share during the forecast period. The increased need for effective and efficient fabric care solutions in both household and business settings is propelling upright hosiery sales. Upright hosiery are a strong and adaptable way to remove wrinkles and freshen a variety of materials, including clothes, curtains, and upholstery. They are especially popular among those who have a great amount of clothing or who frequently work with delicate materials that require cautious steaming. Furthermore, upright hosiery frequently includes adjustable settings and numerous attachments, allowing customers to tailor the steaming process to their unique needs, such factors surge hosiery market size.
According to the gender, the women segment dominated the market in 2022 and is expected to sustain its market share during the forecast period. There is an increase in the demand for leg and foot garments among women owing to changes in lifestyle and an increase in disposable income. Women's growing fashion awareness, along with a preference for versatile accessories, has led to an increase in demand for hosiery products that can be worn with a range of outfits.
According to the distribution channel, the retail stores segment dominated the market in 2022 and is expected to sustain its market share during the forecast period, owing to the integration of technology, with merchants employing self-checkout counters, augmented reality trial rooms, and personalized suggestions to enhance the shopping experience, which is impacting retail outlet expansion.
According to the region, Asia-Pacific dominated the hosiery market in 2022 and is expected to be dominant during the forecast period. Fabric care appliances are witnessing important shifts in the marketplace that impact their development and potential in Asia-Pacific nations. Fabric care appliances are in high demand because of rising discretionary income and shifting habits among consumers in the region. More families are embracing sophisticated fabric care technologies to satisfy their clothing maintenance demands as economies expand and urbanization develops. Furthermore, as the middle class grows and there is a greater emphasis on personal hygiene and fashion, customers are looking for effective and cost-efficient hosiery to protect the durability and look of their apparel.
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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Key findings of the study
On the basis of product type, socks segment dominated the hosiery industry in 2022 and is expected to retain its dominance throughout the forecast period.
On the basis of gender, the men segment dominated the global market in 2022 and is expected to retain its dominance throughout the forecast period.
On the basis of distribution channel, the retail stores segment dominated the global market in 2022 and is expected to retain its dominance throughout the forecast period.
Region wise, North America region accounted for the highest hosiery market share in 2022.
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