Hosiery Market to Reach US $ 43.42 Billion by 2025

In 2016, the global hosiery market was valued at US $ 29.73 billion and is projected to reach US $ 43.42 billion by 2025. The report from US-based Credence Research Inc., “Hosiery Market by Product Type (Socks, Tights, Leggings, Pantyhose, and Others)” – Growth, Future Prospects, Competitive Analysis, 2017 – 2025”, states the rise in the hosiery market represents a CAGR of 4.3 per cent over the years.

The report also points out that the main reason behind the surging global market for hosiery is the rising people’s concern about personal appearance and grooming. Furthermore, shifts in retail format to hypermarkets and supermarkets is allowing consumers to select and compare products according to their preferences which in turn is fuelling the sales of hosiery products.

Moreover, the robust growth of e-commerce sector is also providing easy access to the consumers to compare hosiery products online. The global e-commerce industry was approximately US $ 22 trillion in 2016 and anticipated to witness strong surge during the forecast period. Thus, hosiery products are also projected to witness rise in sales volume through ecommerce platforms.

However, intense competition among global and regional players is restricting hosiery manufacturers to increase prices for their products which in turn is restricting new investment for expansion of production capacity of the hosiery products, says report.