With the emergence and long-term Impact of COVID-19, the Global Hosiery Market is to reach USD 79.4 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Hosiery Market is poised to raise up to USD 79.4 Billion by 2030. Hosiery, an apparel worn directly on the feet and legs, was originally associated with commodities crafted or sold by individuals known as hosiers, also referred to as hose. The popularity of hosiery items has surged, particularly due to the widespread use of knitted materials in the creation of a diverse range of sporting and formal clothing for both children and adults. In recent years, fabric manufacturers have taken a keen interest in meeting women’s demands for knitted leg garments and stockings, contributing to the expansion of the hosiery market.
The market growth is driven by key factors such as the growing importance of hosiery as durable clothing and the growing E-commerce Industry. For instance, as per “Strategies for E-Commerce Advancement, A research report presents insights derived from a worldwide survey that delves into e-commerce trends spanning from the onset of the pandemic to the current year. Conducted in the second quarter of 2023, the survey involved participants from 410 retail and 415 Consumer Packaged Goods (CPG) companies globally, encompassing entities with revenues ranging from USD 50 million to overUSD10 billion.
As per the findings, e-commerce sales witnessed a 3% rise in Europe and a 7% increase both in the United States and Asia during the year 2022. The global trajectory is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 9% till 2027. While this projection falls short of the pre-Covid trend of 12% to 14%, it significantly surpasses the anticipated growth rate of traditional brick-and-mortar retail, which is forecast at just 4%. However, the large number of domestic and international players and raw material price volatility stifle market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Hosiery Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. In 2022 North America emerged as the dominant region for Hosiery Market. The market is experiencing growth propelled by the consumer demand for stylish and comfortable fabric products. The prevalence of online retailers has significantly increased consumer interaction with brands. Companies are leveraging big data analytics technology, coupled with machine learning, to analyze customer preferences and tailor advertisements accordingly.
Meanwhile, Asia Pacific stands out as the fastest-growing market, with a Compound Annual Growth Rate (CAGR) of XX% anticipated from 2023 to 2030. The market expansion is driven by evolving consumer behavior favoring fashionable sports attire and increasing disposable income, particularly in developing countries such as China and India. The rise in consumer per capita spending on garment products, coupled with a growing interest in purchasing branded items, is fostering positive market growth. Also, China has exhibited a significant demand for sports hosiery.
The global Hosiery Market is highly competitive owing to the presence of several key manufacturers such as Gilfin S.P.A. (Golden Lady Company S.P.A), CSP International Fashion Group S.P.A, G-III Apparel Group, Ltd., Heist Studios, Lanvin Group (Wolford AG), Hanesbrands Inc, and others.
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Key findings of the study suggest:
- Global Hosiery Market is anticipated to grow with a healthy growth rate of more than 4.86% over the forecast period 2023-2030.
- In the product type segment, socks emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to rising number of online retailers.
- Asia Pacific is expected to grow at a high CAGR followed by North America during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
By Product Type:
- Body stockings
- Socks
- Knee highs, Hold-ups
- Other Product Types
By End User:
- Men
- Women
By Distribution Channel:
- Supermarkets/Hypermarkets
- Specialty Stores
- Online Retail Stores
- Other Distribution Channels
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
To get a sample of this report or to purchase a copy of the study, you can directly contact us at: sales@bizwitresearch.com
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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