Dublin, Oct. 06, 2021 (GLOBE NEWSWIRE) -- The "Hosiery (Women and Men) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Market to Reach $47.8 Billion by the Year 2026
Hosiery is a multi-faceted apparel accessory. Global Garments & Textiles industry is among the many industries to feel the repercussions of the pandemic`s indelible impact on daily social and economic lives.
A steep global recession, lockdowns and stay at home orders, ban on social gatherings and events, work from home models, widespread layoffs and furloughs, historic high unemployment rates have together massively impacted demand for all non-essential clothing. With no social gatherings and closed offices and schools, sales dwindled for socks and other hosiery items.
In contrast to majority of hosiery brands that suffered massive losses, private labels and sports-orientated items delivered better results. Private labels gained from continuous operations of discounters and supermarkets.
The pandemic has also played an important role in driving a large number of companies to pay more attention to sustainability and adoption of eco-textiles. Hosiery companies in various countries are making significant investments in eco-friendly materials and technologies. These hosiery players are coming up with new collections built on green materials.
Amid the COVID-19 crisis, the global market for Hosiery (Women and Men) estimated at US$39.8 Billion in the year 2020, is projected to reach a revised size of US$47.8 Billion by 2026, growing at a CAGR of 3.2% over the analysis period. Socks, one of the segments analyzed in the report, is projected to grow at a 3.3% CAGR to reach US$33.2 Billion by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Sheer Hosiery & Tights segment is readjusted to a revised 2.9% CAGR for the next 7-year period. This segment currently accounts for a 33.5% share of the global Hosiery (Women and Men) market. Socks brands are entering into the e-commerce domain as well as joining hands with e-tailors, retailers and other companies for pushing sales.
Moreover, various players are coming up with new offerings like anti-bacterial sanitized yarn, organic products and non-compression, soft elastic socks to attract customers. Socks brands are offering blood pressure and diabetes socks to expand their customer base. As COVID-19 pandemic forced people to spend more time indoors due to remote working and learning, comfort dressing has emerged as a major trend in workwear.
The onset of casual dress code hampered the demand for sheer hosiery. Recent years saw proliferation of tights in different colors, patterns and styles as designer scramble to leverage the opportunities prevailing in the market, amid growing image of tights as a regular accessory.
The U.S. Market is Estimated at $6.8 Billion in 2021, While China is Forecast to Reach $8.6 Billion by 2026
The Hosiery (Women and Men) market in the U.S. is estimated at US$6.8 Billion in the year 2021. The country currently accounts for a 16.94% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$8.6 Billion in the year 2026 trailing a CAGR of 4.3% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.4% and 2.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR while Rest of European market (as defined in the study) will reach US$9 Billion by the year 2027.
China is rapidly emerging as one of the leading hosiery producing nations in the world. The country gains its competitive edge from cheap labor, favorable government regulations and easy availability of low-cost raw materials, among others.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Impact of Covid-19 and a Looming Global Recession
2020: A Year of Disruption & Transformation
As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
Garments & Textiles Industry Feels the Repercussions
Impact on Hosiery Industry
Socks Brands Focus on Accelerating Recovery as Restrictions Ease
Tights to Maintain Status Quo as Essential Basic & Gain from Patterned Options
Hosiery: An Introduction
A Trip down Memory Lane
Classification of Hosiery
Recent Market Activity
2. FOCUS ON SELECT PLAYERS(Total 298 Featured)
Donna Karan International
Gildan Activewear Inc.
Iconix Brand Group, Inc.
Trere Innovation s.r.l.
3. MARKET TRENDS & DRIVERS
Hosiery Innovations and Advancements Drive Growth
Hosiery Market Eyes on Green with the Rise of Sustainable, Biodegradable Offerings
Pandemic Accelerates Drive Towards Sustainability in the Hosiery Industry
Consumer Awareness Drives Trend Towards Sustainable Yarns in Socks Manufacturing
Brands Develop Eco-Friendly and Longer-Lasting Tights to Avoid Waste
Manufacturers Focus on High Performance Yarns for Improved Products
Luxury Hosiery on the Run
Hosiery for Older and Plus-size Consumers Offers Significant Growth Potential
Industry Witnesses Rekindled Interest in Sheer Hosiery
Pantyhose: An Old-Turned-New Style Trend
Mesh, Bright Colors & Glitter Mark Hottest Trends in Pantyhose Arena
Fishnet Stockings to Stay for Long
Bridal Hosiery: A Niche Segment
Maternity Hosiery Offers Lucrative Growth Opportunities
High Performance Socks Market Witnesses Increasing Participation
Consumers Warm up to Eccentric Sock Designs & Patterns
Smart Socks: An Emerging Category
Athletic Socks Witness Strong Growth
Over-the-Knee Socks Create a Stir
Skinners: A Portable Alternative to Socks and Shoes
Support Hosiery Blends with Fashion Hosiery
Men's Tights Gain Support
Compression Tights Forms Part of Men's Fashion and Fitness Trend
Athleisure Hosiery: The Perfect Blend of Athletics and Leisure
Trend Towards 'Tights under Shorts'
Hosiery Market Witnesses Rise in Ecommerce Sales
Internet Penetration & Usage Patterns Augur Well
Growing Lenience towards Digital Lifestyles Enhances Online Hosiery Sales
Online Service Boom Drives Growth in Subscription Box Services
Favorable Demographic Trends Strengthen Market Prospects
Women: The Largest Consumer Base for Hosiery
Teen Population: A Lucrative Demographic
Manufacturers Focus on Millennials to Support Sales
Global Millennial Population Facts & Figures: Important Opportunity Indicators
Rising Global Population Propels Demand for Clothing and Hosiery
Burgeoning Middle Class Population Promote Market Growth
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/f71h1w
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