Socks are commodity products. However, in recent years with the advent of luxury socks and socks for specific application, socks have transformed from commodity items to fashion pieces. Owing to the transformation of this traditional item into a luxury product, the growth of the socks market outpaces the overall growth of the apparel industry. Almost 50% of the men use socks every day. Hence, the robust growth of the men’s apparel industry is expected to be the major driver of the socks industry during the forecast period.
The growth of the socks market is attributed to the rapid expansion of the retail network in developing economies primarily China, Brazil, and India. Increasing population and disposable income in these regions is expected to further drive the retail sector, which in turn is increasing the demand for socks. Asia Pacific accounted for the largest market share for socks. North America and Europe also contributed a considerable market share; however, growth in these regions is stagnant or has reached a stage of maturity, especially in Europe.
Asia Pacific and Europe are likely to have better growth potential during the forecast period due to the rise in population, GDP, and favorable government policies to boost the growth of the organized sector in these regions. The major opportunities for the global socks market lies in the improved fashion trends powered by rising income. Application specific customization of socks is creating new opportunities in the market.
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Global Socks Market: Segmentation
Specialty socks are the largest product segment in the socks market. The primary driver for the specialty socks market is its healthcare application. Further, in 2015, athletic socks segment contribute second largest market share. Athletic socks are majorly used for sports and gym purposes; however, they can also be used as casual wear with informal footwear. Trouser socks are accessories used along with formal footwear by both men and women. In terms of materials segment, cotton type accounts for the largest market share at almost one third of the total market. However, the nylon and polyester type socks are expected to show significant CAGR growth during the forecast period 2027 – 2027.
This market research study analyzes the socks market globally and provides estimates in terms of revenue (US$ Mn) from 2015 to 2025. It recognizes the drivers, restraints, and opportunities affecting the industry and analyzes their impact over the forecast period.
Global Socks Market: Regional Outlook
The report segments the market on the basis of geography into Europe, North America, Asia-Pacific (APAC), and Middle East & Africa, and South America. The market have been estimated in terms of revenue (US$ Mn). The report segments the market in terms of product type as specialty socks, athletic socks, trouser socks, women’s socks, casual socks, and others. It also segments the market on the basis of materials used for manufacturing socks as nylon, cotton, polyester, wool, waterproof breathable membrane, and others. All these segments have also been estimated on the basis of geography in terms of revenue (US$ Mn). For better clarity of the consumers’ perspective, the report segments the market by gender into men’s socks, women’s socks, and kids’ socks. The market is segmented based on the age group into 0 – 14, 15 – 24, 25 – 34, and above 35. Moreover based on the distribution channel the market is segmented into wholesale and retail.
For better understanding of the socks market, we have provided key market trends. Furthermore, the study comprises distribution channel analysis, where distribution networks are benchmarked based on their percentage sales and general attractiveness.
Global Socks Market: Competitive Outlook
The report provides company market share analysis of various industry participants. Key players have also been profiled on the basis of company overview, financial overview, business strategies, and recent developments in the field of socks. Major market participants profiled in this report include Adidas A.G., Nike Inc., Puma S.E., Renfro Corporation, Asics Corporation, THORLO, Inc., Balega, Drymax Technologies Inc., Hanesbrands Inc. and Under Armour, Inc.