Hosiery Market Size, Trends Analysis Research Report Expand ...| MENAFN.COM

Friday, 24 March 2023 10:14 GMT

Hosiery Market Size, Trends Analysis Research Report Expand At A CAGR Of 3.5 % Over The Forecast Period 2024

(MENAFN- America News Hour) Research Nester has released its report titled“global hosiery market : Global Demand Analysis & Opportunity Outlook 2016-2024” thatdelivers detailed overview of the global hosiery market in terms of market segmentation by distribution channel, product type, gender, price range and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.

The global hosiery market is predicted to expand at a CAGR of 3.5 percent over the forecast period (2017-2024), owing to various factors such as fast growing urbanization and rise in disposable incomes of the global population. The growing desire and attraction among the majority of the young global population, especially the women and teenagers to emulate the western nations, in order to present themselves as being trendy and fashionable is driving the demand for hosiery products across most of the nations in the world.

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Moreover, the attraction among the majority of young global population towards adoption of designer clothes is anticipated to drive the growth of the market over the forecast period.

The market is predicted to witness remarkable growth in the next decade, owing to various factors such as growing adoption of hosiery among women from several regions across the world and increase in the number of working women across both underdeveloped and developed regions of the world. Further, the growing importance shown towards appearances by a sizeable section of global population, especially women and the growth in the number of internet users globally is driving the demand for hosiery products. Moreover, the growth of the e-commerce business across all regions is anticipated to boost the growth of the market over the forecast period.

However, the global hosiery market may be subject to a few limitations such as the possibility of low quality product offerings by local vendors who have considerable presence in the domestic market. Further, the discomfort that could arise for some individuals and in some cases problems such as skin tickle experienced by a section of women population, due to their thigh fittings while wearing these hosieries are some of the factors that are anticipated to adversely affect the demand for hosiery and growth of the market over the forecast period.

In Q4 2021, USA current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and some signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches to peak 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point, pushing consumers to spend less on the products and services and save more.

On the other hand, the worst is expected to be seen in the European countries especially during 2022 winters. The energy and gas crises has already started grappling the region where in many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage, created by Russian-Ukraine conflict.

Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.

The global hosiery market is composed of four segments which are segmented by distribution channel, product type, gender and by price range. The highest market size is anticipated to be occupied by mass merchants forming part of distribution channel segment at USD 19,774.9 million in 2024 as compared to USD 15,665.8 million recorded in 2016. On the other hand, tights that forms part of product type segment is estimated to register a Y-O-Y growth rate of 5.3 percent over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global smart sleep tracking device market which includes company profiling of key companies:

CSP International Fashion Group S.p.A (BIT: CSP) (Gildan Activewear, Inc. (NYSE: GIL), Hanesbrands, Inc. (NYSE: HBI), Golden Lady Company S.p.A., Wolford AG (VIE: WOL), G-III Apparel Group, Ltd. (NASDAQ: GIII), Trere Innovation SRL, Carolina Hosiery, Inc., Fox River Mills, Inc. and Parker Legwear, Inc.

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The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global hosiery market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

About Research Nester:

Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.


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