Rockville, WA -- (SBWire) -- 07/12/2018 --The global hosiery market is anticipated to considerable demand in the healthcare and fitness industry. Consumption of hosiery products is high among women as they have flexible qualities. Owing to its qualities of being soft, flexible, and effective protection has augmented its demand from healthcare industries mainly for treatment of schlerotherapy. Additionally, hosiery has gained much importance in sports as it is used as advanced technological equipment in games including football and basketball. Higher adoption from sports sectors is expected to bear a positive impact on the global hosiery market.
Expected to register a moderate CAGR of during the forecast tenure 2017-2022, the global hosiery market could achieve a valuation of close to US$65,000 mn by the end of forecast year.
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High Consumption from Sports and Healthcare Sector to Propel Growth
Adoption of the material from sports sector is boosting demand for hosiery and is expected to continue over forecast period. High adoption of hosiery material such as sock and stockings is increasing substantially. Sports persons are increasingly adopting these products as they are light weight, absorbs moisture quickly, and prevents risks of injuries and damages. Additionally, growing fitness industry is driving growth of the hosiery market owing to its properties of soaking moisture. In addition, increasing investment in the healthcare sector across developed as well as developing countries is driving growth of the global hosiery market.
The market is segmented on the basis of product, demographics, price, sales channels, and region. By product, the market is segmented into body stockings, compression stockings, knee highs/ hold-ups, stockings, socks, tights, toe socks. Socks segment is expected to gather substantial share in the global revenue. By demographics, the market is segmented into Men, Women. Of these, women is anticipated to gather substantial share in the global hosiery market. By price-based, the market is segmented into economy, mid, premium, super-premium. Of these, economical products are anticipated to gather substantial share in revenue of global hosiery market. Mid-range priced products of hosiery are expected to gather second highest revenue generation as these products are easily affordable to all scale-earning class of population. By sales channel, modern trade, specialty stores, online, others.
Rising Healthcare Sector to Drive Growth of APEJ
On the basis of region, North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The market in Asia Pacific Excluding Japan is dominating the market and expected to continue its dominance over forecast period. Growing health awareness has driven growth of the fitness industry in the developing countries present in the region such as China and India. Additionally, in the region, healthcare sector is growing substantially owing to high investments to offer better healthcare facilities in the region. Hosiery is highly used in the various treatments and to avoid risks of injuries and damages.
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Primarily, women sector is larger contributor of the APEJ sector owing to higher sale of hosiery products such as body stockings, compression stockings, knee highs/ hold-ups, stockings. The higher sale is attributed to availability of reduced prices products.
Some of the leading players in the global hosiery market include Gildan Activewear Inc., Hanesbrands Inc., CSP International Fashion Group S.p.A., Golden Lady Company S.p.A., L Brands, Inc., Jockey International, Inc., Nordstrom, Inc., Wolford Aktiengesellschaft, Spanx, Inc and Adidas AG.
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Global Hosiery Market to Be Worth US $65,000 Mn with Higher Adoption from Healthcare and Sports Sector
Consumption of hosiery products in healthcare industry is also attributed to increasing treatment of leg disorders such as schlerotherapy treatment. Bound to such factors, the healthcare industry is predicted to fuel growth of the global hosiery market significantly.