Rapidly Expanding Affluent Base of Middle Class Population is Envisioned to Flourish the Growth of Hosiery Market in Near Future, according to Research Nester“Hosiery Market: Global Demand Analysis & Opportunity Outlook 2024”
The global hosiery market is segmented into product type such as tights, stay-ups, leggings, knee highs, socks, foot protectors, opaques, pyjamas, stockings, pantyhose, over knees, and stocking belts, out of which, leggings and pyjamas segment is projected to grasp a remarkable CAGR by 2024. Likely, changing lifestyles of the consumers on the back of rapid urbanization is predicted to foster the growth of global hosiery market. Furthermore, innovation in aesthetic as well as functional hosiery product is expected to positively impact the growth of the global hosiery market over the forecast period.
Global hosiery market is anticipated to seize a robust CAGR of 3.5% over the forecast period i.e. 2017-2024. Moreover, the global hosiery market is projected to account noteworthy sales by the end of 2024. Additionally, the market is riding on the back of rising consumer expenditure on hosiery.
The women segment by gender is projected to attain a significant CAGR over the forecast period. Further, changing lifestyle along with demographic factors is positively impacting the demand for hosiery. In terms of regional platform, Europe region contributed a majority of share in the market of hosiery in 2016 aided by Western Europe countries such as U.K., Germany and others. Moreover, increasing number of working population in this region is one of the factors propelling the market of hosiery. Apart from this, Asia-Pacific region is believed to be the fastest growing hosiery market due to growing population.
Swelled Disposable Income
Rapid Urbanization along with rising personal disposable income of the consumer is one of the major factors fostering the growth of hosiery market. In addition to this, according to U.S. Bureau of Economic Analysis, the personal disposable income of the consumer in U.S. is increased by USD 14,465.30 Billion in September 2017 from USD 14,226.5 Billion in October of 2016.
Penetration of Online Stores
Increasing consumer preferences for online stores on the back of easy availably of numerous products and on-door delivery are anticipated to be the dynamic factor behind the rapid growth of hosiery market. Furthermore, increasing number of hypermarket and supermarket on the back of positive GDP figures are also believed to propel the market of hosiery. Moreover, growing demand for products with features such as 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 is predicted to impel the market of hosiery.
On the contrary, increasing raw material prices can be predicted to hamper the market of hosiery over the forecast period.
The report titled “Hosiery Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global hosiery market in terms of market segmentation by product type, by gender, by price range, by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global hosiery market which includes company profiling of Golden Lady Company S.p.A., Gildan Activewear Inc., HanesBrands, Inc., Donna Karan New York, Trerè Innovation s.r.l., Wolford AG, Carolina Hosiery Mills, Fox River Mills and Parker Hosiery. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global hosiery market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.