The women segment by demography is expected to occupy a 65% market share and is expected to dominate the global market during 2022-2032.
Rockville, Dec. 07, 2022 (GLOBE NEWSWIRE) -- During the forecast period 2022-2032, the hosiery market is expected to grow at a value of 5% CAGR, according to Fact.MR. By the year 2032, the global market for deodorants and antiperspirants is expected to rise to a market valuation of US$ 82 Billion. 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.
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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.
Key Takeaways from the Market Study
In 2022, the global hosiery market is estimated to have a global market size of US$ 50.7 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.S 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 changings 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.
Key Segments Covered in the Hosiery Market Report
Hosiery Market by Price Range :
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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.
Golden Lady Company S.p.A.
CSP International Fashion Group S.p.A.
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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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