Hosiery Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Hosiery Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Hosiery Market size is expected to grow from USD 56.95 billion in 2023 to USD 72.20 billion by 2028, at a CAGR of 4.86% during the forecast period (2023-2028).

The hosiery market is expected to grow over the medium term because of the availability of a wide range of products. Customers are receiving discounts and offers on products through online channels such as Amazon, Flipkart, eBay, and others, which is why the demand for products such as knee highs, leggings, socks, and leg warmers is increasing in various countries. Due to the availability of different brands, customers are getting more and more options for brands, styles, and colors. Among women, the demand for leggings, tights, and socks is growing owing to an increase in their working population.

Moreover, various local and international players are presenting innovative designer hosiery 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, the market players are also considering women's needs and launching products for comfort. For instance, in August 2021, Adidas launched the new TechFit period-proof tights for women. The tights are made with an absorbent layer to help protect against leaks if worn with tampons or pads.

Hosiery Market Trends

Innovative Garments Dominates the Market

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. For instance, in September 2021, a United Kingdom-based hosiery brand Hēdoïne launched the world's first biodegradable tights collection. The product claims to be ladder-resistant and made from biodegradable yarn. 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.

Europe Holds The Major Share in The Market

Due to the rise in disposable income, and more number of the working population of women, the demand for fashion and luxury items is increasing in the region. The customers in the region are more concerned about their appearance and grooming. 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. In March 2021, the United Kingdom hosiery brand Elle re-launched a range of footless tights, leggings, above-the-knee, and shaping in more sizes than before.

Hosiery Industry Overview

The Hosiery Market is fragmented, with various regional and global players, such as Wolford AG, Hanesbrands Inc., Jockey International Inc., Gilfin S.P.A., and CSP International Fashion Group SpA. With the growing penetration of online sales, players have increased their focus on e-commerce 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 through mergers and acquisitions and product innovation to obtain a competitive edge among other players in the global market. Advanced distribution networks and manufacturing expertise give an upper edge to the manufacturers to expand their range of products in the market.

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