Global Hosiery Market to grow at a CAGR of around 4% during 2016-2020

MarketResearchReports.Biz has announced addition of new report "Global Hosiery Market 2016-2020" to its database.

Outlook of the global hosiery market

Technavios market research analyst predicts the global hosiery market to grow at a CAGR of around 4% during the forecast period. 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 mens segment because these days, even men follow the new trends in fashion and apparels.

The rise in sales from the e-commerce sector is another major driver propelling the growth of the hosiery market. The online retails saves the consumers time, gives 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.

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Segmentation and analysis of the global hosiery market by product

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.

Geographical segmentation and analysis of the global hosiery market

North America

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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.