Hosiery, also referred to as legwear, describes garments worn directly on the feet and legs. The term originated as the collective term for products of which a maker or seller is termed a hosier; and those products are also known generically as hose.
Rising awareness of consumers for quality, durability, fashion and style as well as personal grooming consciousness are some of the factors driving the growth of hosiery market. Over the past few years, it has been noticed that not the women hosiery segment is rising but the demand for such products are showcasing a robust growth from the men’s segment due to increasing trends in apparel and fashion. The hosiery is anticipated to observe a rapid growth in terms of both volume and value during the forecast period.
The availability of variants in hosiery with various designs and colors are predicted to augment the growth of the global hosiery market with remarkable revenue of around USD 47,258.1 Million by the end of 2024 from USD 36,100.5 Million in 2016, expanding at a compound annual growth rate of 3.5% during the forecast period.
The growth of the global hosiery market is driven by the robust demand for comfortable and stylish hosiery among the consumers. Changing lifestyles and demographic factors are bringing changes in demand patterns for hosiery. Although the expenditure on hosiery is largely determined by factors such as income, family size and education, the rapidly expanding affluent base of middle class population in developing countries is expected to expand the market over the forecast period.
Hosiery is expected to witness significant demand by the manufacturers Healthcare and Fitness & sports industries. These products are used for the treatment of leg disorder and varicosities. Due to its tight and have flexible qualities has led to an upsurge in demand for compression hosiery in the healthcare industry. With the rise of athleisure is fueling the growth of the hosiery market. Athletes and fitness professionals prefer wearing compression hosiery over cotton socks as it increases the blood flow and performance that led to an upsurge in demand for hosiery among manufacturers in the fitness industry.