Uploaded on Apr 8, 2024
In the bustling world of fashion and comfort, the hosiery market stands out as a vibrant and thriving industry. From Ludhiana, the heart of India’s hosiery manufacturing hub, to global players, hosiery products have secured a significant place in wardrobes worldwide. Let’s delve into the fascinating world of the hosiery market, exploring trends, insights, and lucrative opportunities.
insights into the hosiery market
Hosiery Market Trends: Growth, Innovation and
the Future Outlook
In the bustling world of fashion and comfort, the hosiery market
stands out as a vibrant and thriving industry. From Ludhiana, the
heart of India’s hosiery manufacturing hub, to global players,
hosiery products have secured a significant place in wardrobes
worldwide. Let’s delve into the fascinating world of the hosiery
market, exploring trends, insights, and lucrative
opportunities.
Understanding the Hosiery Market Landscape
The hosiery market encompasses a diverse range of products,
including socks, stockings, tights, and leggings, catering to both
fashion-conscious consumers and those seeking functional comfort.
In India, particularly in Ludhiana, hosiery manufacturing thrives,
contributing significantly to the country’s apparel and textile
industry. The hosiery market is a niche segment within the broader
apparel and textile market. It shares many similarities in terms of
raw materials, consumer trends, and distribution channels, but also
has its own unique drivers focused on legwear functionality and
specific needs.
Hosiery Market Size and Market Growth Rate
The global hosiery market is expected to reach the Textile Market
size of USD 44.2 billion by 2025, growing from USD 36.2
billion in 2020. The compound annual Textile Market
growth rate (CAGR) of 4.0% during the forecast period
(2020–2025).
Hosiery Market Trends
The apparel and textile market trends in the hosiery industry are:
· Growing Importance of Durable and Comfortable
Hosiery: The market is expected to reach USD 44.2 billion by
2025, driven by the increasing demand for hosiery as a comfortable
and durable clothing option, particularly for sports professionals.
· Rising Demand for Functional and Fashionable Hosiery:
Consumers are looking for hosiery that is both stylish and
functional. This is reflected in the popularity of products like striped
tights, python print tights, and patterned socks.
· E-commerce Boom: The shift towards online shopping is a
major factor influencing the market growth. Easy access and
convenience offered by online retailers are propelling sales of
hosiery products.
· Health Benefits Awareness: A growing number of people are
recognizing the health benefits of hosiery, such as improved blood
circulation, prevention of fungal infections, and even varicose
vein prevention.
· Non-Sheer Hosiery Dominates, Sheer Hosiery Growing
Fastest: Non-sheer hosiery products account for the largest market
share (85.7%) due to their comfort and practicality, preferred by
sports professionals, nurses, and for casual wear. Sheer hosiery is
expected to be the fastest-growing segment with a CAGR of 4.0%
from 2019 to 2025, driven by rising interest among millennials who
often combine them with socks.
· Women’s Hosiery Leads, Men’s Segment Catching Up:
The women’s application segment holds the largest share (82.0%)
due to the wider variety of colours, designs, and use cases for
hosiery among women. However, the men’s segment is projected to
be the fastest growing market with a CAGR of 4.0% from 2019 to
2025, fueled by the growing athleisure trend and rising acceptance
of products like weather-adaptive tights for men.
· Regional Growth: North America is the current leader (37.4%
share) due to high consumer demand for stylish and comfortable
hosiery. However, Asia Pacific is expected to witness the fastest
growth (CAGR of 4.0% from 2019 to 2025) driven by rising
disposable income, increasing interest in sports apparel, and
growing awareness about fitness, especially in developing countries
like China and India.
Major Players in the Hosiery Market
The hosiery market is a competitive landscape with numerous
players, both established brands and private label companies. The
key players, but it’s important to note that specific textile market
share statistics for individual companies are not available in the
report:
· Gildan Activewear Inc. (Canada) — Known for their
activewear apparel, including socks and hosiery.
· Hanesbrands Inc. (US) — A leading manufacturer of innerwear
and hosiery under brands like Hanes, Bali, and Champion.
· Spanx, Inc. (US) — Specializes in shapewear and hosiery known
for its innovative comfort features.
· Golden Lady Company SpA (Italy) — A major player in the
European hosiery market with a focus on women’s hosiery.
· CSP International Fashion Group S.p.A. (Italy) — Offers a
wide range of hosiery products under various brands.
· Adidas America Inc. (US) — A prominent sportswear brand
with a strong presence in the hosiery segment, particularly for
athletic socks.
· Jockey International, Inc. (US) — Well-known for its
innerwear and hosiery products for men, women, and children.
Hosiery
Business
Hosiery Market Segmentation
The global hosiery market is segmented by product, application,
and region. Here are the segments of the apparel and Textile Market
segmentation:
Product:
● Non-Sheer Hosiery: This segment accounted for 85.7%
of the Textile market share. It includes popular items like
ankle socks, dress socks, and training socks, favored for
their comfort and practicality by athletes, professionals
(e.g., nurses), and for casual wear.
● Sheer Hosiery: Though holding a smaller share, this
segment is expected to grow the fastest at a CAGR of
4.0% from 2019 to 2025. This growth is attributed
to
rising interest among millennials who often combine sheer
hosiery with socks for a specific look.
Application:
● Women’s Hosiery: This segment held the largest share
at 82.0%. The wider variety of colors, designs, and
functionalities of hosiery for women (e.g., workouts,
professional wear) contribute to this dominance.
● Men’s Hosiery: While holding a smaller share currently,
the men’s segment is projected to be the fastest growing
with a CAGR of 4.5% from 2019 to 2025. This
growth is fueled by the increasing popularity of athleisure
wear among men and the rising acceptance of innovative
products like weather-adaptive tights.
Region:
● North America: This region accounted for 37.4% of the
market share in 2018. High consumer demand for stylish
and comfortable hosiery products drives the market
here.
● Asia Pacific: Expected to witness the fastest growth at a
CAGR of 4.0% from 2019 to 2025. This growth is driven by
rising disposable income, increasing interest in sports
apparel, and growing awareness about fitness, especially in
developing countries like China and India.
Read More- Decoding Growth: Asia-Pacific Apparel &
Textile Insights
Ludhiana: A Hub of Hosiery Excellence
Ludhiana, often referred to as the “Manchester of India,” boasts a
vibrant hosiery industry, with numerous companies manufacturing
high-quality hosiery products. The city’s skilled workforce,
coupled with state-of-the-art manufacturing facilities, positions
Ludhiana hosiery as a key player in India hosiery market.
Exploring Business Opportunities
For entrepreneurs and businesses looking to venture into the
hosiery market, India offers immense potential. Establishing a
hosiery business in Ludhiana or other manufacturing hubs can
be a lucrative endeavor, tapping into the growing demand for
hosiery products both domestically and internationally.
Hosiery Market Future Outlook, Challenges and
Opportunities
The global hosiery market is expected to exhibit steady growth in
the coming years, driven by several factors. The future outlook,
challenges and opportunities in apparel and textile industry:
Future Outlook:
● Market Size: The market is anticipated to reach USD
44.2 billion by 2025, growing from USD 36.2 billion in
2020 at a CAGR of 4.0%. This indicates continued
consumer demand for hosiery products.
● Shifting Consumer Preferences: Growing awareness
of the health benefits of hosiery (improved circulation,
fungal infection prevention) and the increasing popularity
of athleisure wear are expected to fuel market growth.
● E-commerce Boom: The rising convenience of online
shopping is projected to further drive sales, especially for
younger demographics.
Challenges:
● Economic Fluctuations: Economic downturns can
impact consumer spending, potentially slowing down
market growth.
● Competition: The hosiery market is quite competitive,
with numerous private-label brands vying for market
share. This can lead to price wars and pressure on profit
margins.
● Sustainability Concerns: Consumers are becoming
more environmentally conscious. Meeting these demands
may require manufacturers to invest in sustainable
materials and production processes, potentially increasing
costs.
Opportunities:
● Product Innovation: Developing innovative products
with features like weather-adaptive fabrics, stronger
elasticity for improved circulation, and antimicrobial
finishes can attract new customers.
● Expanding Markets: Growing disposable income and
rising interest in sports apparel in developing economies
like China and India present significant growth
opportunities.
● Plus-Size Market: The growing acceptance of plus-size
clothing creates an opportunity for hosiery manufacturers
to cater to this segment with a wider range of sizes and
styles.
Conclusion
The hosiery market presents a wealth of opportunities for
businesses, entrepreneurs, and manufacturers alike. With evolving
consumer preferences, technological advancements, and a
growing emphasis on comfort and style, the hosiery industry
continues to thrive. Whether it’s Ludhiana’s bustling
manufacturing scene or global players innovating in design and
technology, the hosiery
market is poised for continued growth and success.
Read More- Deciphering the Trends in the Apparel and
Footwear Industry
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