“Global Hosiery Market Outlook: Industry Demand Analysis & Opportunity Evaluation 2016-2024”
Women spend a vast amount of money on clothing and accessories including general and formal wear. This can be attributed to the growing participation of women in the global workforce combined with their rising disposable income. Along with that, people from all walks of life are getting more serious about their looks and overall appearance, starting from what they wear and how they look. Spurred by these factors, the fashion and apparel industry is predicted to expand with notable growth rate over the forecast period. To hone the appealing looks, there is a remarkable rise in the hosiery market around the globe which is expected to expand with a CAGR of 3.5% between the years 2017 and 2024. The global hosiery market accounted for USD 36,100.5 Million in 2016 and is believed to reach USD 47,258.1 Million by the end of 2024.
The Global Hosiery Market is segmented by product type into socks, tights, leggings, knee highs, opaques, stay-ups, stockings, panty hose, over knees and others. The socks segment is the highest revenue generating segment in overall hosiery market. The socks segment is trailed by the tights hosiery segment which is projected to capture 25.1% market share by 2024. Further, the other hosieries segment is expected to grow at a CAGR of 2.1% over the forecast period and is expected to observe a growth rate of 1.15x over the forecast period.
The global hosiery market is divided by distribution, product type, by gender and by price range. The price range segment is further segmented into low, med and premium, out of which, the low priced segment accounted for USD 15,896.7 Million in 2016 and is believed to retain its positive stance by the end of 2024. Further, the premium hosiery segment is projected to achieve Y-o-Y growth rate of 4.3% in 2024, whereas the mid price range segment is expected to grow with highest CAGR of 3.9% over the period 2017-2024.
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Increasing Fashion Consciousness among People to Escalate the Demand for Hosiery in Future
The global hosiery market is thriving on the back of growing fashion consciousness among people combined with the increasing adoption of hosiery among teenagers.
Swelled Spending on Fashion – The enhanced living standards of people and their consciousness towards fashion and appearance has led to the increased spending on the fashion apparels.
Booming E-commerce Business – Rising internet penetration and growing sale of smartphones is driving the growth of hosiery market in online distribution channels.
Rising Disposable Income – Growing women participation in the global workforce and their rising disposable income has augmented the demand for fashion and accessories products.
Industry Players’ are Progressing towards Minimizing the Barriers faced by the Global Hosiery Market
According to Research Nester, the unpredictable fashion trends and lack of compatibility of hosiery with traditional apparels is envisioned to hinder the growth of the global hosiery market across the globe. Further, the presence of low quality products and high cost of branded hosiery might limit the demand for hosiery in upcoming years.
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The report titled “Global Hosiery Market Outlook: Industry Demand Analysis & Opportunity Evaluation 2016-2024” delivers detailed overview of the global hosiery market in terms of market segmentation by distribution, product type, by gender, by price-range and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global hosiery market which includes company profiling of CSP International Fashion Group S.p.A, Gildan Activewear Inc., Hanesbrands Inc., Golden Lady Company S.p.A, Woldford AG, Donna Karan New York, Trerè Innovation Srl, Carolina Hosiery Inc., Fox River Mills Inc. and Parker Legwear Inc.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global hosiery market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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