Hosiery (Women and Men) Market Size, Share, Growth, and Industry Analysis, By Type (Ship Socks, Short Socks, and Stockings), By Application (Adult Men, Adult Women and Children), Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Hosiery (Women And Men) Market Report Overview

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The global hosiery (Women and Men) market size is expected to be USD 42760 million in 2021 and is projected to touch USD 69259.24 million by 2031, exhibiting a CAGR of 4.9% during the forecast period.

Hosiery is a versatile clothing item. The pandemic's lasting effects on people's social and economic life are being felt throughout a wide range of industries, including the global garment and textile industry. The demand for all non-essential clothes has been severely impacted by a deep global recession, lockdowns and stay-at-home orders, social gathering and event bans, work from home models, widespread layoffs and furloughs, and historically high unemployment rates. Sales of socks and other hosiery items decreased since there were no social events and shuttered offices and schools. Private labels and sports-related products performed better than the bulk of hosiery companies, which experienced enormous losses. Private labels benefited from the ongoing activities of supermarkets and discounters.

The worldwide hosiery (Women and Men) market is expanding thanks to the burgeoning e-commerce sector. The decrease in consumer shopping time is the main driver of the e-commerce market's expansion. Additionally, shoppers are spending less time shopping for clothing, especially intimate wear. Additionally, this has increased hosiery product sales through internet platforms. The worldwide hosiery market is expanding due to product innovation. The businesses are making changes to their products to include stronger elastic, fabric that adapts to the weather, and an antibacterial treatment based on silver. Stronger elastic offers the proper compression to improve blood flow. The antibacterial finish made of silver encourages cleanliness and comfort. Python print thighs, striped thighs, pattern over-the-knee socks, and stirrup thighs are some of the new products with cutting-edge features.

COVID-19 Impact: Lack of Raw Materials Impeded Growth

The global COVID-19 pandemic has been unprecedented and staggering, with hosiery (Women and Men) experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Due to remote learning and working as a result of the COVID-19 epidemic, comfort wearing has become a significant trend in workwear. Demand for sheer hosiery was limited by the introduction of a casual dress code. Tights have proliferated in recent years in a variety of colors, patterns, and styles as designers raced to take advantage of commercial opportunities and the expanding perception of tights as a common accessory.

LATEST TRENDS

"Various Features of the Product to Bolster Market Growth"

Hosiery is typically used as an outer garment or undergarment. Under the umbrella of "hosiery for women and men," apparel items including socks, stockings, tights, leggings, and thigh-high hose are included. These are typically worn as outerwear or undergarments on the lower portion of the body. In cold weather, hosiery can be used to keep warm, and several varieties are available for varied uses. Designers popularized legwear styles including tights and leggings that were worn all the way down the leg rather than just at the ankles, turning hosiery into a statement piece. Although cotton or wool are frequently used to make hosiery, there are many other materials that can be used, such as silk, acrylic, and nylon.

Hosiery (Women And Men) Market Segmentation

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• ·       By Type Analysis

By type, the hosiery (Women and Men) market is segmented into Ship Socks, Short Socks, and Stockings.

• ·       By Application Analysis

Based on application, the market is classified into Adult Men, Adult Women and Children.

DRIVING FACTORS

"Demand from Consumers to Have a Comfort to Aid Market Growth"

For the purpose of boosting sales, sock firms are collaborating with e-tailors, stores, and other businesses. Additionally, in order to draw in customers, different businesses are introducing new items including anti-bacterial sterilized yarn, organic goods, and non-compression, soft elastic socks. To increase their consumer base, socks companies are also offering blood pressure and diabetes socks. Due to remote learning and working as a result of the COVID-19 epidemic, comfort wearing has become a significant trend in work wear. Demand for sheer hosiery was limited by the introduction of a casual dress code. In recent years, tights have proliferated in a variety of colors, patterns, and styles as designers raced to take advantage of business prospects and the tights' improving reputation.

"Increasing Standard of Living to Foster Product Demand"

The standard of living of people has also been improving due to the upswing in urbanization and rising disposable income. During the projected period, the global market is anticipated to gain from the rising purchasing power of middle-class consumers. The fashion industry has experienced rapid growth. The need for stylish intimate clothing and hosiery goods is growing. Due to their greater concern for fashion, younger individuals are the most likely to purchase high-end hosiery products. Teenagers' demand for hosiery items has been dramatically increasing due to their developing fashion awareness.

RESTRAINING FACTORS

"Pandemic to Hinder Market Growth"

As COVID-19 pandemic forced individuals to devote more time inside owing to remote operational and education, comfort wearing has appeared as a foremost trend in work wear. The beginning of casual dress code hindered the demand for pure hosiery. 

Hosiery (Women And Men) Market Regional Insights

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"North America to Be the Dominant Due to the Rising Adoption of the Product in the Region"

North America is forecasted to gain a dominant part of the hosiery (Women and Men) market share. This trend is projected to continue in terms of revenue, North America is anticipated to hold the market share for hosiery (Women and Men) worldwide. The increased desire for comfortable apparel is responsible for the development of both nations.

Globally, China is the country that produces the most hosiery. India's hosiery (Women and Men) market is also expanding significantly. Additionally, the spending power and affordability of the middle-class population, particularly those from the expanding Asia Pacific region, is growing along with their disposable income. This is anticipated to be a key factor in the hosiery (Women and Men) market growth.

KEY INDUSTRY PLAYERS

"Key Players Focusing On Innovative Technology Development to Grow in Market"

Manufacturers are constantly working to create cutting-edge smart scent boxes that can be operated by Bluetooth devices or smartphones. Setting up a scent playlist in a manner similar to how a consumer would do so for a music playlist is one of the elements that attract customers. Other Internet of Things (IoT) devices, such as smart alarm clocks or lighting systems, are also integrated into the gadget. By altering the smell intensity, creating bespoke timetables, and using the away mode in the app, customers may further customize their experience with scent.

List of Market Players Profiled

• Gildan (Canada)
• Hanesbrands (U.S.)
• Kayser-Roth (U.S.)
• LVMH (France)
• Golden Lady (U.S.)
• Iconix Brand Group, Inc. (U.S.)
• L Brands (U.S.)
• Wolford (Austria)
• Donna Karan (U.S.)
• CSP International SpA (Italy)
• Trere Innovation (Italy)
• Sculptz, Inc. (U.S.)
• Langsha Group (China)
• Mengna (Canada)
• Fenli (Italy)
• Bonas (U.K.)
• Naier (China)
• Jasan Group (U.S.)
• Danjiya (U.S.)
• Qingyi (China)

REPORT COVERAGE

An overview of the product is provided along with the product description. Numerous industry elements are included in the research.

• The pandemic's aftereffects and the subsequent lockdown.
• The market's most recent trend is currently fueling expansion.
• The factors are most likely to stimulate market growth.
• The reasons the market is expected to grow more slowly.
• A comprehensive regional analysis of the market is conducted.
• Significant players and their business offices are also covered in the article.