Report ID: SQMIG25K2092
Report ID:
SQMIG25K2092 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
91 |
Figures:
66
Globally, North America dominated the hosiery market in 2021 and accounted for a strong market share. Rising demand for stylish, designer, and comfortable fabric products from the consumers especially in developed countries like United States and Canada are projected to be the major factors driving the growth of the market in the region during the forecast period. In addition, the rising investment from the key market players in research & development sector and early adoption of advanced technology for creating attractive products are also anticipated to boost the market growth in the region. For instance, in October 2021, Blackstone Inc., acquired a large stack of SPANX Inc. The extensively growing digital transformation and global footprint of SPANX in various categories will be accelerated by the acquisition. The main aim of the acquisition is to develop more innovative and attractive products.
Furthermore, Asia Pacific region is expected to be the fastest growing region over the forecast period. Shift in consumer preferences, increased income of consumers in nations like China and India, and growing adoption of latest technology are the major factors projected to drive the growth of the market in the region. Additionally, increasing spending on fabric products is positively influencing the demand for hosiery in the coming years. Also, a growing number of government initiatives to spread awareness among millennials and others regarding the importance of sport activities is propelling the regional market.
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Report ID: SQMIG25K2092