Socks Market Size and Share Outlook 2023-2028: Industry Growth Analysis, Sales revenue, CAGR Status, Future Demand and Developments
Socks Market Size, Share, Growth, Trends and Forecasts 2023 - 2028
The ‘Global Socks Market Size, Trend, Growth, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global socks market, assessing the market on the basis of its segments like product, material, demographics, distribution channel, and major regions.
The key highlights of the report include:
Market Overview 2018-2028
• Forecast CAGR (2023-2028): 6.4%
The global socks market is aided by the growing consumer awareness regarding hygiene. Socks are significant for the overall health of any individual’s feet and not only absorb moisture but also aid in the prevention of rubbing of shoes against bare feet. This is rising the urge among consumers to buy more socks and is also increasing the market demand for socks.
Socks also supply padding to cushion the feet and aid in keeping them warm as well as protecting feet from dust. This is expected to gain consumer traction due to the comfort offered to consumers which are further projected to drive the socks market growth. Socks also help in preventing cold feet and frostbite during the changing weather including winters as well as the months of fall.
Specialty socks, like compression stockings, are likely to enhance circulation along with preventing leg fatigue. With growing fashion trends at a worldwide level, the demand for socks along with other apparel is likely to gain momentum across the globe over the forecast period.
Moreover, on the basis of demographic, the women segment is likely to hold a considerable share in the market owing to the availability of various designs of socks for women that attracts more female customers. Based on product, the athletic socks segment is anticipated to propel the socks market growth due to the surging sports industry along with high demand for sports shoes as well as socks.
Socks Market Segmentation
A sock is a piece of clothing that is used to cover the feet and is made of soft material. Socks are usually woven from wool, nylon, or cotton and are worn inside shoes. They are accessible in several sizes, materials, and colours to fit the need of the consumer.
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Based on product, the market is divided into:
• Casual Socks
• Athletic Socks
• Formal Socks
• Specialty Socks
On the basis of material, the market is segmented into:
• Waterproof Breathable Membrane
By demographics, the socks market is categorised into:
On the basis of the distribution channel, the market is segregated into:
• Hypermarket and Supermarket
• Convenience Stores
• Retail Stores
Based on region, the market is divided into:
• North America
• Latin America
• Asia Pacific
• Middle East
Socks Market Trends
The soaring significance of sustaining formal attire among white-collar professionals on a worldwide level is anticipated to fuel the socks demand across the globe. The surging expenditure on fitness and health amongst the younger generation is expected to propel the requirement for different shoe accessories. These include ankle socks and sports socks while doing workouts either in health clubs or gymnasiums which is further expected to support the socks market.
Several healthcare experts have augmented the market by publishing different research papers on sustaining healthy feet. This is considering cumulative incidences of foot disorders related to diabetic patients over the past few years which is likely to aid the market demand for socks. There are new initiatives by market key players like providing customised socks through online channels. Other initiatives include the launch of advanced and new socks with anti-fungal and anti-bacterial properties and socks that track movement, temperature, and location of infants which is expected to fuel the market.
Furthermore, some of the manufacturers are aiming to provide socks made from Kevlar which are exceptionally strong, tough, heat resistant, and lightweight. The growing awareness regarding the benefits of wearing such socks is registering an increase in the adoption of socks over the past few years.
Geographically, the Asia Pacific region is projected to register significant growth in the socks market share on account of the presence of major brands in the region like Jockey, Asics Corporation, and Tosside, among others. Based on the distribution channel, the hypermarket and supermarket segments are holding a significant share in the market growth due to the easy availability and huge variety of socks in one place. Meanwhile, the online segment is expected to gain traction in the market for socks because of the rising number of internet users across the globe and convenient product delivery services.
Key Market Players
The major players in the global socks market
• Adidas A.G.
• Nike Inc.
• Puma S.E.
• Hanesbrands Inc.
• Under Armour, Inc.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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