According to a new market report published by Credence Research Inc., the global hosiery market was valued at US$ 29.73 billion in 2016 and is projected to reach US$ 43.42 billion by 2025, increasing to CAGR by 4.3 per cent from 2017 to 2025.
The global hosiery market is growing due to growing concerns about personal appearance and grooming. In addition, shifting the retail format to the hypermarket and supermarket enables consumers to select and compare products according to their preferences, which, in turn, fuel the sale of hosiery products. In addition, the e-commerce sector has seen robust growth in the recent past, making it easy for consumers to compare hosiery products online. The global e-commerce industry was around US$ 22 billion in 2016 and expected to see strong growth during the forecast period. Thus, hosiery products are also projected to witness high growth in sales volume through ecommerce platforms.
Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/hosiery-market
Increased raw material prices pose challenges to the hosier industry. Growing consumer awareness of the quality and price of different products as a result of increasing access to various retail formats and online platforms gives consumers a choice of alternatives. Furthermore, increasing consumer demand for high-quality products at cheaper prices is expected to pose challenges for hosiery manufacturers. Increased raw material prices are lowering producers ‘ profit margins. Moreover, intense competition between global and regional players restricts hosiery manufacturers to raise prices for their products, which in turn restricts new investment in expanding the production capacity of hosiery products.
The market is highly fragmented by nature. The presence of large well-established and regional producers makes the market highly competitive. They compete on the basis of product differentiation and price differentiation. Some of the major players on the market are Hanesbrands, Golden Lady, Gilden Activewear, CSP International, Tefron and Wolford AG, among others.
- Emerging economies offers huge untapped market potential
- Advancement in technologies provide huge market opportunities
- High competition due to growing international trade
You can get the sample copy of this research by Credence Research here: https://www.credenceresearch.com/sample-request/58258
Report Scope by Segments
By Product Type
- Others (stockings, warmers among others)
By Geography Segment
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India,Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)
Find more research reports on Consumer Goods Industry, by Credence Research