Hosiery Market

Market Overview

The global hosiery market size was valued at USD 41.2 billion in 2022 and is projected to reach a value of USD 63.3 billion by 2031, registering a CAGR of 4.9% during the forecast period (2023-2031). Fashion trends, changing lifestyles, technological breakthroughs, and sustainability concerns are just a few elements that affect the hosiery market growth.

Hosiery is apparel that covers and supports the feet and legs. These goods are usually constructed of stretchy fabrics like nylon, spandex, or cotton and come in various forms, such as socks, stockings, pantyhose, and tights. Hosiery is an essential component of legwear in the apparel business, serving both practical and fashion functions.

The hosiery market share is growing significantly due to the ever-changing fashion trends. Hosiery has emerged as an artistic fashion accessory as fashion enthusiasts and clients seek new ways to express themselves. The continuing movement and rise of designs, colors, and patterns in fashion trends has provided the hosiery sector with a fresh chance for growth. Furthermore, the hosiery market is becoming more visible, particularly in supermarkets and low-cost shops, which is expected to drive industry growth.

Highlights

• Socks account for the largest share of the market by product type.
• Women's hosiery occupies a significant share of the market by gender.
• Retail Stores generate the most revenue in the market by distribution channel.
• Europe dominates the global market.

Market Dynamics

Global Hosiery Market Drivers:

Evolving Fashion Trends

Fashion trends and consumer preferences strongly impact the hosiery market trend. Trends frequently influence legwear fashion in apparel, footwear, and general aesthetics. Changing fashion trends have a big impact on the hosiery sector. New styles, patterns, and colors influence consumer preferences, which drives demand for updated legwear options. The return of retro and vintage fashion in recent years has influenced hosiery styles. Fishnet stockings, for example, became famous as a daring and edgy fashion statement, representing a return of some historical designs. Fishnet tights are back in style in 2022, owing to celebrities like Beyoncé and Miley Cyrus. Some argue that the continued popularity of fishnets now reflects Generation Z's stylish rebellion against traditional gender standards.

Furthermore, runway fashion has a significant impact on hosiery trends. Fashion designers' runway show designs frequently set the tone for upcoming legwear trends. Fashion runways featuring sheer tights with rich patterns or decorations may inspire similar designs in the retail market, influencing customer purchase decisions. Tights were fashionable in 2022, according to VienneMilano, with polka dots, flowers, lace, and trendy sheer tights. Sheer tights have a denier count of roughly 20; the lower the denier count, the more breathable the tights. Influencer and celebrity endorsements can have a significant impact on hosiery trends. Consumers frequently imitate the fashion of their favorite celebrities, fueling demand for specific legwear trends. Fashion firms have also found new ways to market their items thanks to social media. Social networking, for example, has made it easier for consumers to discover and buy new fashion goods. Users can share their outfits and tag the brands they are wearing, allowing other users to find and purchase comparable things easily.

Global Hosiery Market Restraints:

Seasonal Variability

Seasonal demand changes are common in the hosiery sector. Warm weather may diminish demand for some hose types, affecting sales at certain times. Inventory monitoring might be difficult due to seasonal demand changes. For example, in early December, the hosiery business may provide discounts to entice buyers and remove inventories. Large hosiery brands may begin providing discounts in the last week of December or the first week of January. Summer hosiery sales decreased by 20%, and significant shops halted putting winter orders. During the hot months, hosiery items, particularly opaque tights and stockings, are frequently in short supply. Consumers may pick lighter, more breathable legwear or forego hosiery in warmer weather. Seasonal variations also impact weather-appropriate clothing selections and changes in fashion preferences.

Additionally, clothing and footwear trends can influence the sorts of hosiery shoppers purchase to accent their outfits. During the warmer months, the popularity of open-toe shoes or sandals may lead to a decline in demand for traditional stockings or pantyhose, affecting sales in this category. Seasonal fluctuations vary by region across the world. Climate, cultural norms, and seasonal fashion trends particular to different geographic places can all influence hosiery preferences and demand. In Japan, for example, hosiery sales are expected to fall by one-third by 2020. However, hosiery sales fell at a slower rate in 2021 and 2022. 

Global Hosiery Market Opportunity:

Growth of E-Commerce

The rise of e-commerce allows hosiery businesses to reach a global audience and communicate with consumers via digital platforms. Online sales, digital marketing methods, and virtual try-on experiences can all help to increase brand visibility and accessibility. The hosiery market can benefit from expanding e-commerce by reaching a larger audience, facilitating frictionless shopping experiences, and providing a platform for presenting varied product choices. In 2023, e-commerce sales were estimated to reach USD 6.5 trillion, accounting for 20.8% of the retail business. E-commerce websites will be responsible for 22.3% of overall retail sales. Through dedicated e-commerce platforms, hosiery brands can develop a significant online presence. Creating user-friendly websites or mobile applications allows for direct sales to consumers while providing a convenient and fast buying experience. E-commerce platforms have been effectively deployed by brands such as HUE and Happy Socks, allowing users to browse and purchase their hosiery products online.

Furthermore, incorporating virtual try-on experiences improves the online hosiery purchase experience. Customers can use virtual fitting rooms or augmented reality tools to see how different hosiery products would look on them before purchasing. Using social media platforms for commerce also provides an extra channel for reaching and connecting with customers. Hosiery firms can use social media to highlight products, run customized marketing, and permit direct purchasing. Instagram Shopping enables brands to tag and sell their products directly on the network. Hosiery businesses can use this functionality to provide users a more seamless shopping experience. As a result, digital transformation enables hosiery manufacturers to collect and analyze consumer data to develop more targeted marketing tactics. Understanding consumer preferences, optimizing marketing campaigns, and personalizing product suggestions are all aided by data analytics.

Regional Analysis

The global hosiery market analysis is conducted in North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

Europe Dominates the Global Market

Europe is the most significant global hosiery market shareholder and is estimated to grow at a CAGR of 4.8% over the forecast period. The region's demand for fashion and luxury items is expanding as disposable income rises and the number of working women increases. Customers in the area are more concerned with their appearance and upkeep. Rising urbanization has resulted in more money for modern-class consumers to spend, resulting in a tremendous enthusiasm for contemporary fashion. Changing lifestyles and demographic factors are influencing hosiery consumption trends.

Additionally, the European hosiery market is experiencing many activities, such as introducing high-quality and comfortable items and developing new textile materials. These indicators point to the European hosiery market's prospective expansion. Elle, a United Kingdom hosiery business, re-launched various footless tights, leggings, above-the-knee, and shaping in more sizes than before in March 2021. 

Asia-Pacific is anticipated to exhibit a CAGR of 5.0% over the forecast period. According to the hosiery market insights, Asia-Pacific will likely be a prominent contributor during the forecast period. Fabric care appliances are undergoing significant market changes that will impact their development and potential in Asia-Pacific countries. Fabric care appliances are in great demand due to increased disposable money and changing consumer behaviors in the region. As economies grow and urbanization accelerates, more families adopt sophisticated fabric care technology to meet their garment maintenance needs. Furthermore, as the middle class expands and a greater emphasis is placed on personal cleanliness and fashion, buyers are looking for practical and cost-effective hosiery to safeguard the durability and appearance of their clothing.

Furthermore, events such as the China International Hosiery Purchasing Expo (CHPE) are planned to promote the hosiery sector. The event, China's only commercial platform for the hosiery sector, aims to connect raw material, machine, and product manufacturers with large-scale market distribution channels, such as global distributors and retailers.

North America was the largest regional market for hosiery, accounting for a sizable portion of total revenue. Consumer demand for fashionable and comfy fabric items is driving market expansion. The high presence of Internet shops encourages consumer connection with brands. Companies analyze customer requirements using big data analytics technologies and machine learning, then publish adverts accordingly. During the forecast period, the U.S. market will be the most profitable for hosiery. A specialist branch of athletics diplomacy has also ensured that international and domestic sporting events continue uninterrupted.

As a result, a slew of events with significant sponsorship deals have altered the American landscape. This has resulted in new revenue streams for manufacturers of consumer items, such as hosiery, clothing, and food and beverages. In recent years, several regional, national, and international hosiery companies have benefited from the ever-expanding trend of sports apparel in the United States. For example, Victoria's Secret sells high-neck and many other women's sportswear.

Segmental Analysis

The global hosiery market is segmented based on product type, gender, distribution channel, and region.

The market is further segmented by Product type into Socks, Stockings, Tights, and Leggings.

Socks account for the largest share of the market.

Socks

Socks are the most basic sort of hose worn on the feet. They are available in various lengths, including ankle, crew, knee-high, and over-the-knee. They are fashioned from multiple fabrics, including cotton, wool, nylon, and mixes. Socks led the market in 2022 and is predicted to maintain its market dominance during the forecast period. The rising demand for effective and economical fabric care solutions in residential and commercial settings is driving up sales of upright hosiery. Upright hosiery is a powerful and adaptable way to remove wrinkles and refresh a wide range of textiles, including clothing, curtains, and upholstery. They are especially popular with people with a lot of clothing or frequently work with delicate textiles requiring careful steaming. Furthermore, upright hosiery often features customizable settings and a variety of attachments, allowing clients to personalize the steaming process to their specific demands.

Stockings

Stockings are sheer or semi-sheer garments that cover the leg from the foot to the thigh or waist. They are typically worn with dresses or skirts and are considered more formal. Stocking fashion trends may include denier (thickness) changes, patterns (such as fishnet or lace), and colors. Bridal stockings, in particular, can be customized for special events.

Based on gender, the market is fragmented into Women and men.

Women's hosiery occupies a significant share of the market.

Women

Women's hosiery includes various goods, such as socks, stockings, tights, and leggings made exclusively for women. This area is distinguished by various styles, patterns, and fabrics catering to different fashion preferences and events. As a result, women dominated the market in 2022 and are likely to maintain their market dominance throughout the projection period. Women's leg and foot clothing demand increases as their lifestyles change and their disposable income rises. Women's increasing fashion consciousness and a taste for adaptable accessories have increased demand for hosiery goods that can be worn with various outfits.

Men

men's hosiery consists of socks, tights, and leggings explicitly made for males. This market has shifted recently as men have become more fashion-conscious, embracing styles other than standard socks. Trends in men's hosiery may include fashionable socks with distinctive designs, colors, and materials. Products gaining popularity in this area include compression socks for athletic performance and dress socks with complex designs.

The market can be further bifurcated by distribution channels into Retail Stores and Online Retail.

Retail Stores generate the most revenue in the market.

Retail Stores

Traditional brick-and-mortar retail establishments such as department stores, specialized hosiery shops, supermarkets, and garment stores are included in this sector. Customers can go to these stores to browse, try on things, and make purchases. Customers may feel the material, check the fit, and obtain rapid assistance from sales personnel in retail establishments. The availability of hosiery products across the store increases visibility. Retail stores dominated the market in 2022 and are expected to maintain their market share during the forecast period, owing to technology integration, with merchants employing self-checkout counters, augmented reality trial rooms, and personalized suggestions to enhance the shopping experience, impacting retail outlet expansion.

Online Retail

The sale of hosiery products via e-commerce platforms is part of the online retail category. Consumers can browse and purchase things without visiting a store using websites, smartphone apps, or online marketplaces. Online retail provides ease, an extensive product range, and the opportunity to shop virtually anywhere. Virtual try-on sessions, consumer reviews, and personalized recommendations enhance the online buying experience.

Recent Developments

• September 2023- HanesBrands, a global leader in iconic apparel brands, and G-III Apparel Group, Ltd., a global leader in fashion, announced today the signing of a multi-year strategic license agreement for the design, production, and distribution of outerwear for the Champion and C9 Champion brands in North America.
• June 2023- The LYCRA Company announced their groundbreaking Sheer Sensation technology, which is intended to alleviate the issue of static buildup in hosiery. With its cling-free component included within the fiber, the breakthrough provides wearers with a solution for sheer hosiery, allowing conventional hosiery manufacturing without affecting garment comfort, fit, or performance.