Global Hosiery Market to Reach $82 Billion by 2032, Driven by Innovations in Fabric Design and Athletic Wear Demand

During the forecast period 2022-2032, the hosiery market is expected to grow at a CAGR of 5%, according to Fact.MR. By considering the demands of the industry, businesses are creating a variety of cutting-edge fabric designs. Currently, some of the most popular types include striped tights, stirrup tights, python print tights, and patterned over-the-knee socks.

They can rapidly and precisely cut the fabric's edges with these technologies while also sealing the edges to stop fraying. They are modernizing their hosiery lines to incorporate materials with antibacterial silver treatments, high levels of elasticity, and weather resistance. In order to promote blood flow, people choose for more durable elastic materials that can provide proper compression. The market is on strong growth trajectories as a result of the launch of products that could satisfy the desire for new sets of capabilities and offer new health benefits. The growing demand for hosiery in the sports industry supports these developments. The increased popularity of gear that improves athletic performance while minimizing muscle damage and injuries is another important factor boosting the growth of the hosiery industry. However, with the rising prices of the raw materials and super-premium products are expected to hinder the market growth.

Region-wise, the growth of the US hosiery sector is being driven by consumer demand for stylish and comfortable fabric goods. The widespread use of online stores promotes interaction between customers and brands. Businesses use big data analytics and machine learning to assess the needs of their customers, producing advertisements in response to the findings. Additionally, a dedicated branch of athletic diplomacy has ensured the uninterrupted continuation of both domestic and international sporting events. Numerous events with substantial sponsorship agreements as a result have altered the American scene.

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Key Takeaways from the Market Study:

• In 2022, the global hosiery market is estimated to have a global market size of US$ 62 billion
• In 2022, the women segment by demography is expected to occupy a 65% market share and is expected to dominate the global market during 2022-2032.
• The online sales channel segment is projected to hold a global market share of 40% in 2022
• The U. is predicted to acquire 45% of the global market share in 2022 and grow with a 5.1% CAGR during 2022-2032.
• China is forecast to have a CAGR of 5.2% over the projection period of 2022- 2032.

“The hosiery industry is expected to expand rapidly due to its enhanced usage by the athletes and changing trends to provide support and protection to the body. Such developments will open up new avenues during the forecast period,” comments a Fact.MR analyst.

Leading Players Driving Innovation in the Hosiery Market:

Spanx Inc.; Adidas AG; Nordstrom Inc.; Wolford AG; Jockey International, Inc.; Golden Lady Company S.p.A.; L Brands, Inc.; CSP International Fashion Group S.p.A.; Gildan Activewear Inc.; Hanesbrands Inc.

Competitive Landscape

• Blackstone and Spanx Inc. announced in 2021 that they had struck a legally binding deal whereby the latter would pay US$ 1.2 billion for the latter's majority stake in the company. The acquisition would increase SPANX's global reach, hasten its already rapid digital transformation, expand its online e-commerce presence, and reaffirm its commitment to creating ground-breaking, innovative products for its customers across a wider range of categories.
• Adidas organized a virtual Investor & Media Day in 2021 to introduce its fresh "Own the Game" approach. The main strategic objectives of "Own the Game" are to strengthen the Adidas brand's reputation, create a standout customer experience, and expand the business' environmental initiatives. The revamped strategy is anticipated to significantly increase sales, profitability, and market share up until 2025.

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Hosiery Industry News:

• Spanx Inc. reported in 2021 that it had signed a binding deal with Blackstone whereby the latter would acquire a majority stake in the business for US$ 1.2 billion. The takeover will enable SPANX to expand its global reach, accelerate its already rapid digital shift, enhance its e-commerce life online, and drive its commitment to creating innovative, revolutionary products for its customers across many more categories. As they combine efforts to aid in the world emancipation of women, the businesses seek to form an all-female SPANX board of directors.
• Adidas hosted a Virtual Investor & Media Day in 2021 to introduce its new "Own the Game" strategy. The main strategic objectives of "Own the Game" are to enhance the legitimacy of the Adidas brand, create a unique customer experience, and expand the environmental efforts of the company. Through to 2025, the updated strategy is forecasted to significantly enhance sales, profitability, as well as market share.

More Valuable Insights

Fact.MR, in its new offering, presents an unbiased analysis of the global hosiery market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights based on hosiery market analysis by hosiery market report by product type (body stockings, compression stockings, hold-ups, socks, tights, toe socks, stockings), by demography (men, women), by price range (economy-priced, mid-priced, premium-priced, super-premium priced), by sales channel (modern trade, specialty stores, online) and by region (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).

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