Profuse Demand in Healthcare Industry for preventing Medical Conditions reinforce Growth of Hosiery
The hosiery market is witnessing new demand propositions in the emergence of specialized hosiery. The use of compression stockings in the healthcare industry is a case in point.
[UKPRwire, Wed Oct 17 2018] The hosiery market is witnessing new growth avenues in the healthcare and sports and fitness industries, world over. The rising demand for garments that support increased performance of sportspersons and athletes and in preventing muscle damage and injuries is a key factor bolstering the growth of the hosiery market. The growing incidence of venous disorders among athletes has led to an attractive demand for hosiery products to minimize the risks. The substantial prospect of applications of hosiery in schlerotherapy for treating various leg disorders is also propelling the growth of the hosiery market. The rising popularity of hosiery as compression stocking among worldwide populations is a key factor contributing large revenues to the overall hosiery market.
The global hosiery market is projected to rise at a steady, moderate CAGR during 2017–2022, and is anticipated to reach a worth exceeding US$65,000 million by the end of this period.
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Among all product types in the hosiery market, socks represent the segment with the most attractive CAGR over 2017–2022. The segment is estimates to reach a worth of over US$5,000 Mn by the end of this period. Stockings and body stocking are also expected to witness extensive uptake in the hosiery market, with the former segment expected to serve greater revenue by the end of 2022. These segments are expected to rise at promising growth rates in the next few years.
A major chunk of demand for hosiery products will come from women. The opportunities from the women segment in the global hosiery market is anticipated to reach a valuation of over US$ 7,800 Mn by the end of 2017.
Women traditionally have been contributing large chunk of revenue in the global hosiery market. The wide array of choices that the hosiery market has been offering to this demographic is evident in the variety of socks and stockings, notably high-thigh stockings. The advent of hosiery with new prints and aesthetic values continue to influence feminine fashion sensibilities, reinforcing vast prospects for the overall market. The demand for hosiery garments will continue to remain lucrative in the coming years as well, with substantial share expected to come from Asia Pacific excluding Japan. However, apparel manufacturers are also shifting their attention toward men and children. More importantly, the men segment is expected to rise at the leading CAGR in market over the assessment period of 2017–2022. However, the demand for hosiery for men is anticipated to rise at more attractive CAGR over 2017–2022.
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The products in the economic price range in the hosiery market is anticipated to garner the most attractive CAGR during 2017–2022. By the end of 2022, the opportunities in the hosiery market for economic price range products is expected to reach US$9,200 Mn. This will be followed by mid-range and super-premium range hosiery.
On the regional front, Asia Pacific excluding Japan (APEJ) is expected to be the major market for hosiery throughout the assessment period. The growth of the APEJ market for hosiery is also propelled by the extensive demand for socks and stockings. The rapidly rising demand for various hosiery products for men is bolstering the growth of this regional market. The substantially rising demand for compression stockings as an attractive category of hosiery market is also catalyzing the growth of the APEJ market. On the other hand, the promising demand for super-premium price range hosiery products in Europe will make this a promising regional market.
A growing number of apparel manufacturers in the global hosiery market are focused on improving the quality fabric for enhancing the product performance. Prominent names in the hosiery market include Wolford Aktiengesellschaft, Jockey International, Golden Lady Company, L Brands, Gildan Activewear, and Hanesbrands.
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