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The increasing concern for personal grooming is the key growth driver of the global hosiery market. The growing desire of wearing apparels fitting to the body shape has propelled the growth of the global market. Socks dominated among the various products of the global hosiery market in 2014. Based on consumer type, the market for women is growing at faster pace, as compared to that of men. Women also represent the largest share in the market. Europe lead the market in 2014, however the market in Asia-Pacific is expected to grow with the fastest pace during the forecast period.
With the up surging urbanization and growing disposable income, the living standard of people has also been enhancing. The growing purchasing power of middle class consumers is expected to benefit the global market during the forecast period. The fashion industry has been growing at a significant pace. The consumers are demanding for fashionable intimate apparels and hosiery products. The younger people are the most prospective consumers of the high-end hosiery products, as they are most concerned about the fashion. The demand for hosiery products from teenagers have been growing significantly, owing to their growing fashion consciousness.
Fitness is a major attribute in hosiery products, which is demanded by consumers in the age group 30 – 60 years. The consumers in this age group want to look young, although they are in the aging phase. The hosiery products enhance their appearance to give them fit and younger look. The demand of hosiery products has also been increasing among plus-size or obese consumers, as they want to look fit. Knee socks and tights are the most demanded hosiery product for plus-size consumers. The increasing numbers of obese consumers is expected to drive the growth of the market during the forecast period. The products for brides and pregnant women are also gaining popularity in the market.
The growing e-commerce industry is promoting the growth of the global hosiery market. The reduced shopping time of consumers is the key reason for the growth of the e-commerce market. The consumers’ time spent on apparel shopping has also been declining, specifically for intimate apparel. This has also increased the sales of hosiery products through online channels. The innovation in hosiery products is propelling the growth of the global market. The companies are modifying their products to include stronger elastic, weather adaptive fabric, and silver-based microbial finish. Stronger elastic provide appropriate compression to increase blood circulation. The silver-based microbial finish promotes hygiene and comfort. The new products with advanced features include python print thighs, striped thighs, patterned over-the knee socks, stirrups thighs.
China is the largest producer of hosiery products globally. The hosiery market in India is also growing at a considerable rate. The major players in the global market include Hanesbrands Inc., Golden Lady Company SpA, Gildan Activewear Inc., Jockey International, CSP International, Keyser-Roth Corporation, Gold Toe Brands Inc., Iconix Brand Group Inc.
Global Hosiery Market Segmentation:
By Consumer Type
By Age Group