Rising concern about appearance and grooming among people of all generations is benefiting growth of the global hosiery market. The concern about durability, quality, and fashion among users is augmenting need for the experimentation. Additionally, these factors are augmenting need for the numerous styles and personal grooming. These factors are acting as trends in the hosiery market, which are expected to be same in coming years and drive the growth of the global hosiery market. Moreover, the urbanization has encouraged the modern middle class consumers to spend and indulged into passion for current fashion. These factors are changing lifestyles and benefiting hosiery industry.
Global Hosiery Market: Notable Development
Major companies functioning in the global hosiery market includes Hanesbrands, Gilden Activewear, CSP International, Golden Lady SpA, Jockey International, Adidas, Carolina hosiery, Gatta Hosiery USA LLC, and Spanx, Inc. The large number of players in the hosiery market are leading to increase fragmentation of the market. In order to standalone and to gain profitable edge in the market, the key players are relying on the macro and micro economic strategies such as merger and acquisitions, partnerships, joint venture, and collaborations. Additionally, some of the key players are trying to enter in to the market in developing countries and to tap the robust untapped opportunities present in the regions.
- In 2019, GARNI, a new brand in the market launched hosiery tights, which are known as the gold standard in tights. Rising launch of hosiery-based products is fuelling growth of the global hosiery market.
- In 2018, one of the India-based company, Lux Industries entered in to lingerie market by introducing the new hosiery-based products especially for India. Now, the company is waiting for the permission of Securities and exchange Board of India (SEBI) for acquiring JM Hosiery and Ebell Fashions, which are the major producers of the hosiery. Through these initiatives, the player is trying to strengthen its feet in the hosiery and inner wear industry in the country or the region.
Global Hosiery Market: Drivers and Restraints
The increasing adoption of women’s hosiery due to trend of apparel and fashion is encouraging growth of the global hosiery market. Selection of hosiery items during work out among wellness cognizance women populace is foreseen to the development of the global hosiery market. Men keep on being the real purchasers for hosiery items because of the ascent of athleisure ways of life.
Expanding deals from online retail are the quickest developing conveyance channel as it is advantageous, spares the season of purchasers and offer different limits on similar items when contrasted with items in the disconnected retail location. Along these lines, the online store is required to be the quickest developing section, which is foreseen to extend the development of the global hosiery market over the estimate time frame.
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Global Hosiery Market: Regional Outlook
On the basis of region, the hosiery market is segmented in to North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Of these, Europe is expected to dominate the global hosiery market and is likely to be dominant in the coming future. North America is expected to secure second-leading position in the global hosiery market in terms of revenue.
The growth of both the countries is ascribable to the rising demand for the comfortable clothing. Additionally, rising disposable income of the mid-earning people especially from the developing countries across the Asia Pacific is increasing their expenditure power and affordability of these clothing. This is expected to be a primary factor benefiting growth of the market in the region.
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