Hosiery Market Size & Share, Market Research and Industry Forecast Report, 2019-2025 (Includes Business Impact of COVID-19)

  • TBI427148
  • November 29, 2020
  • Global
  • 132 pages
  • Lucintel
                                              

Industry Insights, Market Size, CAGR, High-Level Analysis: Hosiery Market

The global hosiery market size was valued at USD 33.6 billion in 2018 and is expected to expand at a CAGR of 4.0% from 2019 to 2025. The market growth is primarily attributed to growing importance of hosiery as a durable clothing, which reduces leg fatigue and provides excellent comfort characteristics to sports professionals. Furthermore, these hosiery products are preferred by thefemale consumers due to its virtually invisible features, thus providing natural and shiny looks. By understanding the market demand, companies are working on different types of innovative fabric designs. Some of the trending designs are striped tights, python print tights, stirrups tights, and patterned over-the-knee socks. Companies such as Sock Dreams and BAREWEB, INC. are introducing such products. Leading suppliers are using ultrasonic and laser technologies to develop product offerings. With the help of these technologies, they can provide perfect edge cutting to the fabric in less time and seal the cut edges, hence preventing from fraying. They are transforming their hosiery products to include weather adaptive fabric, strong elasticity, and silver-based microbial finish. Some of the major third party manufacturers who provide training and manufacturing of these hosiery products are Disabled Living Foundation (DLF) and Adaptive Textiles. People prefer to purchase stronger elastic products that can provide appropriate compression, thereby leading to increasing blood circulation. Shifting buyers preference towards the e-commerce industry is also expected to be one of the key factors driving the global market. The major reason behind the market growth is hassle free and convenient shopping features offered by the online retailers. It has been observed that the average time spent by the consumers on intimate apparel shopping at retail outlets is declining at the global level, which has increased the sales of hosiery products by online channels. Changing demographic factors such as disposable income and lifestyle are transforming the demand patterns of this market. It has been observed that obesity levels are increasing at the global level, which is driving the demand for plus size hosiery products. In U.S., around 65% adults are either obese or overweight with no sign of associated visible improvement. Majority of the women are joining the plus size acceptance movement in different countries. By understanding the need for these hosiery products, different manufacturers have started selling exclusive plus size products to meet the market demand. Some of the suppliers are Hanesbrands Inc., Macys, and BAREWEB, INC.

Product Insights of Hosiery Market

Non-sheer hosiery products accounted for the largest share of 85.7% in 2018. Major popular products under this segment include ankle socks, dress socks, and training socks. Non-sheer products are majorly preferred by sports professionals, nurses, and kitchen staff. It is also popular among common mass due to its ease and wearing comfort. Major fast-fashion players such as H&M and sports retailers such as Decathlon are catering to the growing demand for non-sheer hosiery products. Sheer hosiery products is expected to be the fastest growing category with a CAGR of 5.1% from 2019 to 2025. Millennials are increasingly interested in purchasing sheer hosiery, which is impacting the segment growth. Consumers of this category of generation prefer to use sheer hosiery with socks. Some of the major suppliers of this category in U.S. are Woodland Hosiery Inc., Holt Hosiery Mills Inc., and WOODLAND HOSIERY INC.

Application Insights of Hosiery Market

The women application segment accounted for the largest share of 82.0% in 2018. Increased usage of hosiery items for workout as well as professional use as these products are perceived as a fashionable wearable among women. Additionally, majority of the women population prefer hosiery products with different colors and designs, which is projected to expand the market reach. The men application segment is expected to be the fastest growing market with a CAGR of 4.5% from 2019 to 2025. The segment growth is attributed to shifting trend towards athleisure among male adults. Products such as weather adaptive tights are gradually gaining acceptance among men. Some of the leading men tight suppliers are UNIQLO CO. LTD., Adidas America Inc., and Nike, Inc. Companies including Stolen Goat Ltd. offer unique features such as wet weather cycling clothes for men, which is significantly contributing to this segment growth.

Regional Insights of Hosiery Market

North America was the largest regional market for hosiery, accounting for 37.4% share of the overall revenue in 2018. Demand for stylish and comfortable fabric products among the consumers is boosting the market growth. High penetration of online retailers is promoting the consumer interaction with the brands. Companies are using big data analytics technology, along with machine learning, to analyze customer requirements and thus, publish the advertisements accordingly. Asia Pacific is the fastest growing market, expanding at a CAGR of 5.0% from 2019 to 2025. Changing consumer behavior towards fashionable sports attire, along with rising disposable income especially in developing countries such as China and India, is expected to boost the market growth. Increasing consumer per capita spending on garment products and rising interest in buying branded products are positively impacting the market growth. It has been observed that demand for sports hosiery is comparatively high in China. The Chinese government is taking initiatives to spread awareness among millennials and working class population about the importance of sports activities. People prefer to use hosiery products during workouts due to its comfortable features, which will propel the market growth in the upcoming years.

Market Share Insights of Hosiery Market

The market is competitive in nature due to the presence of many private level brands. Some of the major companies operating in the market for hosiery are Gilden Activewear Inc.; Hanesbrands; Spanx, Inc.; Golden Lady; Gatta Hosiery USA LLC; CSP INTERNATIONAL FASHION GROUP S.P.A.; adidas America Inc.; Jockey; and Carolina hosiery. Due to high competition, companies are working on new product launches to increase their share in the market. For instance, in October 2017, Hanes Hosiery has launched a perfect tights to compete other legwear manufacturers. This product is designed with X-TEMP technology to adapt body temperature for all day comfort.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Hosiery Market Research Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global hosiery market report on the basis of product, application, and region:

Product Outlook (Revenue, USD Billion, 2019 - 2030)

  • Sheer
  • Non-sheer

Application Outlook (Revenue, USD Billion, 2019 - 2030)

  • Women
  • Men

Table of Contents
Chapter 1. Methodology and Scope                  1.1. Market Segmentation & Scope                  1.2. Market Definition                  1.3. Information Procurement                      1.3.1. Purchased Database                      1.3.2. GVR’s Internal Database                      1.3.3. Secondary Sources & Third-Party Perspectives                      1.3.4. Primary Research                  1.4. Information Analysis                       1.4.1. Data Analysis Models                  1.5. Market Formulation & Data Visualization                  1.6. Data Validation & P
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