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23rd August 2016, US

Research predicts global hosiery market growth of 4% by 2020

The analysis looks of different segments, including socks, tights and pantyhose and nylons.The latest research from the Research and Markets, a leading market research store, predicts the global hosiery market to grow at a compound annual growth rate (CAGR) of around 4% in the next four years.

“Consumers look for the quality, durability, fit, style, and glamor while purchasing hosiery products. The increasing concern about personal grooming and appearance is one of the major drivers of the market. Not only is the market for women hosiery rising, but the demand for such goods is also rising from the men's segment because these days, even men follow the new trends in fashion and apparels,” the report explains.

E-commerce

The rise in sales from the e-commerce sector is another major driver propelling the growth of the hosiery market, according to the research.

The online retail stores save the consumer's time, give product availability at door steps, and offer products at discounted prices, hence they are the fastest growing channel of sales. In terms of region, the e-commerce market in North America is the fastest growing market with nations like the US and Canada dominating the share for the same as of 2014.

Growth in socks segment

The analysis looks of different segments, including socks, tights and pantyhose and nylons. In terms of revenue, the socks segment dominated the global hosiery market in 2015 with a share of more than 69% in 2015.

The growth of the socks segment is mainly driven by the increasing demand for socks from the following two consumer segments, 0-14 years age group and 15-64 years age group consumers. Also, the increased demand for socks emerging from developing regions such as APAC and Latin America has also triggered the growth of this segment.

Europe

The report includes geographical segmentation and analysis of the global hosiery market. The key regions selected for the analysis are APAC, Europe, North America, and the rest of the world.

According to the research, Europe occupies the majority of the share in the global hosiery market with more than 34% of the market share. The major factors contributing to the growth of this region is the rising demand for socks from the working population; wherein the women hosiery generates the highest revenue.

Competitive landscape

The report also looks at the competitive landscape and the key vendors in the segment. The presence of multiple vendors including well-established and regional vendors makes the market considerably fragmented and competitive, according to the reports. They compete on the basis of product differentiation, portfolio, and pricing. The prevailing competition among the vendors presents a possibility of increased number of mergers, with smaller entities being acquired by or merged with major players.

The key vendors in the market are Hanesbrands, Golden Lady, Gilden Activewear and CSP International. Other prominent vendors in the market include Acorn Products, Alba-Waldensian, Albertville Knitting, Americal, Bossong Hosiery Mills, Brown Wooten Mills, Carolina Hosiery Mills, Crescent Hosiery Mills, Fine Sheer Industries, Fox River Mills, Highland Mills, Hot Sox, Huffman Finishing, Johnson Hosiery Mills, Kentucky Derby Hosiery, Lemco Mills, Mayo Knitting Mills, Monarch Hosiery Mills, Parker Hosiery, Pro Feet, Royal Apparel, Royce Hosiery Mills, Sara Lee Sock, Tower Mill, US Textile, and Value Line Textiles.

www.researchandmarkets.com

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