Hosiery Market to Reach $62.4 Billion, Globally, by 2032 at 4.5% CAGR: Allied Market Research

The global hosiery market is expanding rapidly due to increasing participation of individuals in dancing activities, rise in fashion trends in individuals, and surge in health and wellness awareness.

NEW CASTLE, Delaware, Oct. 6, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Hosiery Market by Product Type (Socks, Stockings, Tights, and Leggings), Gender (Men and Women), and Distribution Channel (Retail Stores and Online Retail)”. According to the report, the global Hosiery market generated $40.5 billion in 2022 and is anticipated to generate $62.4 billion by 2032, witnessing a CAGR of 4.5% from 2023 to 2032.

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Hosiery refers to clothing items worn directly on the feet and legs. Initially, this term was associated with products produced or sold by individuals known as hosiers, and these products were commonly referred to as hose. The popularity of hosiery items has grown significantly due to the widespread use of knitted materials in the production of various clothing items for both children and adults, including sportswear and formal attire. In recent years, fabric manufacturers have taken an interest in meeting women’s demand for knitted legwear and stockings, contributing to the expansion of the hosiery market.

Prime determinants of growth 

The global hosiery market is expanding rapidly due to increasing participation of individuals in dancing activities, rise in fashion trends in individuals, and surge in health and wellness awareness. However, price fluctuation and cultural shift restrain the market growth to some extent. Nevertheless, the surge in demand for eco-friendly and sustainable products is expected to provide ample growth opportunities throughout the forecast period.

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The socks segment to maintain its leadership status throughout the forecast period

Based on product type, the socks segment held the highest market share in 2022, accounting for nearly two-fifths of the global hosiery market revenue and is estimated to maintain its leadership status throughout the forecast period. The increased need for effective and efficient fabric care solutions in both household and business settings is propelling upright hosiery sales. Upright hosiery is a strong and adaptable way to remove wrinkles and freshen a variety of materials, including clothes, curtains, and upholstery. However, the Leggings segment is projected to manifest the highest CAGR of 4.9% from 2023 to 2032, The demand for leggings is steadily rising with the present generation of ladies’ wearing leggings the most commonly across all age groups. Moreover, leggings fulfill all a woman’s requirements for daily attire and the simplest method for ladies to look slim is to wear leggings.

The women segment to maintain its leadership status throughout the forecast period

Based on gender, the women segment held the highest market share in 2022, accounting for more than four-fifths of the global hosiery market revenue and is estimated to maintain its leadership status throughout the forecast period. Owing to Women’s rising fashion consciousness, along with an inclination for flexible accessories, it has resulted in a rise in demand for hosiery items that suit a variety of outfits. Fabric and manufacturing process advancements have increased ease and fitting, enticing customers to use hosiery as a fashion statement. However, the men segment is projected to manifest the highest CAGR of 6.0% from 2023 to 2032. Men’s fashion tastes are evolving, resulting in a greater desire for attractive and creative legwear alternatives that suit current ensembles.

The retail stores segment to maintain its leadership status throughout the forecast period

Based on distribution channel, the retail segment held the highest market share in 2022, accounting for nearly three-fourths of the global hosiery market revenue and is estimated to maintain its leadership status throughout the forecast period. One of the primary causes driving up retail sales is the rising demand for environmentally friendly and sustainable hosiery goods, which is being driven by the increasing awareness of environmental problems. The same segment is estimated to showcase a notable CAGR of 4.6% during the forecast period. 

North America to maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global hosiery market and is estimated to maintain its leadership status throughout the forecast period. The growing trend of fashion-conscious customers seeking adaptable accessories to dress up their apparel has influenced the growth of the North American hosiery industry. Tights, stockings, and socks have seen an increase in popularity due to their availability in different textures, colors, and flair to a variety of outfits.  However, LAMEA is projected to manifest the highest CAGR of 5.5% from 2023 to 2032. The hosiery market in LAMEA has witnessed a surge in popularity. This can be attributed to factors such as the increase in disposable income of consumers, change in fashion preferences, and a growth in awareness of the health benefits offered by athletic socks.

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Leading Market Players: –

• Hanesbrands Inc.
• CSP International
• LVMH
• Jockey International
• Gildan Activewear
• L brands
• Golden Lady SpA
• Spanx, Inc.
• Renfro Corporation
• Carolina Hosiery Mills, Inc.

The report provides a detailed analysis of these key players in the global hosiery market. These players have adopted different strategies such as collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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