The sock market - Italy

The global sock market, valued at nearly $43.6 billion in 2020, is projected to grow at a CAGR of 6.3% from 2021 to 2026, reaching approximately $61.5 billion. Despite the COVID-19 crisis impacting sales with a decline in women's hosiery sales by 23% in Italy, the market displayed resilience with a general rebound in hosiery consumption in 2021, showing a 16% increase over 2020 figures. The Italian market, particularly the Castel Goffredo district, remains a powerhouse, accounting for a significant portion of the world's women's hosiery production and maintaining a competitive edge through technological innovations. Italy saw its exports in the hosiery sector decrease in 2020 but they swiftly recovered in 2021, despite imports dropping by 19.8% compared to 2019. Digital commerce has notably increased its market share from 8% in 2019 to 16% in 2020 within the fashion sector, reflecting changing consumer behaviors and an accelerated shift towards online shopping..Title: Transitional Trends and Analysis in Italy's Hosiery Market Italy's hosiery market, encompassing a diverse collection of socks and stockings, has experienced a dynamic landscape of change and innovation. Amidst the fluctuating market influenced by the global pandemic, there's a clear shift towards casual and comfort-oriented styles, as well as a burgeoning interest in eco-sustainable materials. As the home of the significant Castel Goffredo district, Italy's market presents a blend of optimism and challenge, driven by technological advances and a staunch commitment to meeting consumer demands. The hosiery sector, traditionally catering to a utilitarian need, has seen recent trends elevate these garments into the realm of fashion necessity. The shift is evidenced by increasing domestic hosiery consumption, which is approximately between €700 and €800 million. A noticeable consumer preference for products aligning with medical benefits and comfort has steered the market, with tights leading at 55 percent of the women's segment value sellout. Despite challenges due to COVID-19, affecting sales and leading to a decline of about 21 percent for men's hosiery and 23 percent for women's hosiery, there has been a resurgence. The revitalization is particularly evident with a 16 percent rise in footwear consumption, which briskly correlates with hosiery sales due to their intertwined usage. Interestingly, the average Italian possesses between 15 and 20 pairs of socks, showcasing a reliance on these products that surpasses neighboring countries like France but falls below Germany and Austria. From a market structure perspective, Italy encapsulates approximately 500 companies within this sector. Yet, a significant divergence in numbers has occurred over recent years, most notably a reduction in company count by about 37 percent from 2010 to 2019. Despite a decrease in the number of operating entities, the workforce saw a substantial increase of about 27 percent between 2018 and 2019. However, this growth occurs within a general trend of declining employment figures throughout the preceding eight years. The Castel Goffredo district alone has propelled Italy to hold the envious position of the world's second-largest production hub for women's hosiery, only behind China. Contributing to nearly a quarter of global exports in women's hosiery, the district's output and export revenue constitutes an integral part of Italy's economic fabric. Large-scale retailers and e-commerce platforms are progressively becoming staple channels for hosiery distribution, meeting diverse consumer demands from practical to luxurious. Adherence to European standards.The Titans of the Hosiery Market: Global Giants and Italian Pioneers In the world of hosiery, several prominent names have etched their mark on the industry with their high-quality products, innovative designs, and global outreach. These market leaders are not only shaping consumer trends but are also pivotal in driving technological advancement and sustainable practices in the hosiery manufacturing sphere. Here's an insight into the main players in the market: ### International Companies **H&M:** Renowned for its fast-fashion clothing for men, women, children, and teenagers, H&M is a household name that extends its reach into the hosiery segment, offering a wide array of socks and tights that cater to everyday and fashion-centric needs. **Uniqlo (Fast Retailing Group):** As part of the Fast Retailing Group, Uniqlo has created a niche for itself by merging functional design and casual wear. This brand brings to the table a collection of hosiery products that emphasize comfort, durability, and a minimalist aesthetic, appealing to a global audience seeking both quality and affordability. **Bleuforêt:** A brand that prides itself on producing high-quality socks and tights, Bleuforêt combines luxury materials with French manufacturing prowess, delivering a touch of elegance to the hosiery market. ### Made in Italy Companies **Calzedonia:** Striding forward as one of Italy's most successful hosiery and beachwear brands, Calzedonia has charmed consumers worldwide with its trendy designs, rich variety, and emphasis on Italian craftsmanship that resonates with fashion-forward individuals. **Pompea:** Pompea stands as a trademark of comfort and innovation in the Italian hosiery sector. It's a brand that continuously adapts to the changing needs of the market, offering an extensive collection catering to all demographics. **CSP International:** Known for its high-quality undergarments and hosiery, CSP International thrives on providing consumers with products that couple comfort with luxury. Their attention to detail and quality have established them as a trusted brand in the hosiery market. **Gallo:** This brand has become synonymous with vibrancy and exceptional quality. Gallo socks are famed for their colorful patterns and premium textiles, aligning with those who see hosiery as a statement of personal style and sophistication. ### Italian Mechanotextile Companies **Lonati Group:** A cornerstone of the mechanotextile industry, the Lonati Group specializes in the manufacturing machinery for hosiery production.

Inforamtion

• Number of pages : 30 pages
• Format : Digital and PDF versions
• Last update : 28/06/2022

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Summary and extracts

List of charts

• Value of knitted and crocheted footwear production
• Breakdown of sales of knitted and crocheted footwear
• Global Sock Market
• Turnover of enterprises active in knitted footwear production
• Value of production
• Foreign trade in hosiery
• Main countries of origin of imports, hosiery
• Main export destination countries, hosiery
• Footwear consumption by Italians
• Behaviors of Italian households
• Key features for purchase
• Average number of pairs of socks owned by individuals by country
• Online searches for the terms "Socks" and "Sock"
• Evolution number of Firms active in the production of knitted hosiery items
• Number of Employees in the Manufacture of Hosiery Items
• Main companies active in the districts of Castel Goffredo - Bresciano
• Online value share in the online market

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