Hosiery Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Hosiery Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The global hosiery market is projected to grow at a CAGR of 2.5% during the forecast period (2022 - 2027).

The covid-19 pandemic has played an essential role in boosting many hosieries product manufacturers to concentrate more on the adoption and sustainability of eco-textiles which is demanding in the market. The hosiery products market was hampered due to the closure of supermarkets, hypermarkets, and shopping malls. Apart from this, the implementation of stringent regulations of lockdown in various countries has restricted the import and export activities of Hosiery Machine. However, the pandemic forced people to stay at home and work remotely, resulting in opting for online shopping. This factor boosted hosiery product sales as they started selling their products on w-commerce websites.

The hosiery market is observing an increase in visibility, specifically in supermarkets and discount stores, which is estimated to propel the market's growth. In addition, growth in online penetration and availability of a wide variety of products at a discounted price is further expected to boost the market growth. The increasing demand for hosiery in the sports sector is boosting the market's growth by launching various outfits for the consumers to reiterate new trends. The demand for garments worn over legs and feet, such as knee highs, socks, leggings, legwarmers, and tights, has increased among women consumers.

Moreover, various local and international players are presenting innovative designer clothes with new offerings like organic commodities, anti-bacterial sanitized yarn, and non-compression, soft stretchable elastic socks to gain consumer engagement. Owing to changes in fashion & lifestyle, people nowadays are concerned about self-grooming, which forced new entrants and other players in the market to present comfortable dressing following the current trend fashion. Furthermore, consumers' preference has been shifted toward the e-commerce retail store due to its hassle-free and convenient shopping features, boosting the global hosiery market through online retailers.

The demand for hosiery is increasing among the new generations, mainly the women's segment, owing to the trendy outfits by local players in the market. Hosieries such as stockings have become a trend among women during the late '70s and continue with the growing number of working women. Moreover, socks brands are marketing through e-commerce retail stores, e-tailers, retailers, and other companies to increase sales volume. Modern hosiery manufacturing has to accommodate the high demand for quality goods. Moreover, various local and international players are entering with trendy fashion items with organic products, anti-bacterial sanitized yarn, non-compression, soft elastic leggings, and long socks to satisfy consumer needs. From the finest seven denier sheer stockings, through the multi-colored and wildly patterned hose and onwards to practical 60 denier pantyhose, women want the best. While the women's hosiery manufacturing process will undoubtedly continue to evolve, there will always be a demand for the sheer stockings of bygone days. Women also wear this as comfort for cold weather during the winter.

The growth in the region is anticipated by the increasing spending on fashion apparel and accessories. Increasing concern about personal grooming and appearance among millennials is the major market driver of European hosiery. Rising urbanization has resulted in modern class consumers earning more money to spend, thus indulging in a growing passion for current fashion. Changing lifestyles and demographic factors are bringing changes in demand patterns for hosiery. Besides, the European hosiery market is witnessing a gamut of activities such as launching high-quality and comfortable products and developing new textile materials. These factors signal the promising growth of the European hosiery market.

The Hosiery Market is fragmented, with various regional and global players, such as Wolford AG, Hanesbrands Inc., Jockey International Inc., CSP International Fashion Group SpA, and Gildan. With the growing penetration of online sales, players have increased their focus on online sales. Players are also bringing innovations such as a mix of fabrics to attract more users. The manufacturers are majorly concentrating on enhancing their product quality by mergers and acquisitions and product innovation to obtain a competitive edge among other players in the global market. Advanced distribution network and manufacturing expertise give an upper edge to the manufacturers to expand their range of products in the market.

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