Dublin, May 18, 2023 (GLOBE NEWSWIRE) -- The "Socks Market Size, Share & Trends Analysis Report By Product (Athletic, Casual), By End-use (Men, Women, Children), By Distribution Channel (Supermarket & Hypermarket, Online), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global socks market is expected to reach USD 73.6 billion by 2030, registering a CAGR of 6.4% over the forecast period.
Companies Mentioned
- Nike Inc.
- Puma S.E.
- Adidas A.G.
- Asics Corporation
- Renfro Corporation
- Thorlo, Inc.
- Hanesbrands Inc.
- Balega
- Drymax Technologies Inc.
- Under Armour, Inc.
The increasing trend of formal clothing among white-collar professionals is anticipated to play a vital role in boosting product demand. This, in turn, is estimated to increase market growth over the forecast period. Furthermore, growing spending on health, as well as fitness, is anticipated to fuel the demand for different footwear accessories that include sports socks and ankle socks.
Over the last couple of years, different healthcare professionals have increased their spending on publishing several research papers on keeping the feet healthy on account of the growing occurrences of foot disorders related to diabetes.
As a result, some of the companies including Dr. Oxyn and Podolite have launched customized diabetic socks to reduce the risk of foot ulcers, which function as a root cause of infections, or amputation. The presence of corporate offices in emerging economies including China, Bangladesh, India, and Mexico, due to supportive policies to promote investments at a domestic level, is expected to remain a favorable factor for industry growth.
However, increasing demand for footwear, such as sandals and slippers, is hindering the growth of this market. Rising demand for specialized socks along with the increasing awareness about fitness & health in various regions will create development opportunities for the industry over the forecast period.
Industry development is likely to be higher in emerging regions due to the increasing penetration of corporate offices, which creates ample growth opportunities for the market. The COVID-19 pandemic has impacted the industry, as the product demand was decreased globally. With the lockdown and movement restrictions, socks sales were drastically impacted.
However, top players reinvented their product lines and most of them utilized the lockdown period to innovate their production and retail approach. The demand for socks is significantly influenced by changing fashion and style trends. As people seek to stay up-to-date with the latest trends and styles, they often purchase new socks that match their fashion preferences. Socks with colorful patterns or bold designs may be popular in one season, while plain and classic styles may be preferred in another.
This trend-driven demand creates opportunities for companies to introduce new sock designs and styles to capture consumer interest and generate sales. Socks designed for specific sports or fitness activities are gaining popularity among enthusiasts. These specialized socks offer benefits, such as improved performance, increased comfort, and reduced risk of injury.
For instance, compression socks worn during exercise can improve blood circulation and help prevent swelling and soreness in the feet and legs. As more people engage in sports and fitness activities. The demand for specialized socks is expected to grow, providing opportunities for companies that cater to this niche market.
Socks Market Report Highlights
- Casual socks are the leading product segment and held a share of almost 54% of the global revenue in 2022. Many brands are using sustainable and eco-friendly materials, while others are incorporating compression or moisture-wicking technologies into their socks
- The athletic socks segment is projected to accelerate at a CAGR of 6.9% during the forecast period. This growth can be attributed to several factors, such as the increasing popularity of athleisure wear, rising awareness about the importance of comfortable & supportive socks for athletic performance, and the growth of e-commerce platforms that make it easier for consumers to purchase athletic socks
- Men's socks held a revenue share of 62.8% in 2022. The segment is likely to continue its growth in the coming years as consumers have become more aware of the importance of high-quality socks for both comfort and style. The women's socks market is progressing rapidly and is expected to improve by 1.6x by 2030. One of the reasons for the growth in the women's socks market is the changing fashion trends. Socks are no longer seen as just a functional item but also as a fashion accessory. As a result, women are now looking for socks that not only provide comfort but also look stylish
- Hypermarkets and supermarkets are the leading distribution channel for socks and held a share of 56.7% of the global revenue in 2022. However, customers are levitating towards online retail channels and thus. The online segment is expected to register a CAGR of 7.1% during the forecast period
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $44.7 Billion |
| Forecasted Market Value (USD) by 2030 | $73.6 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Socks Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.6. Roadmap of Socks Market
3.7. Market Entry Strategies
3.8. COVID-19 Impact Analysis of the Socks Market
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations
Chapter 5. Socks Market: Product Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2021 & 2030
5.2. Casual
5.2.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
5.3. Formal
5.3.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
5.4. Athletic
5.4.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
Chapter 6. Socks Market: End Use Estimates & Trend Analysis
6.1. End Use Movement Analysis & Market Share, 2021 & 2030
6.2. Men
6.2.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
6.3. Women
6.3.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
6.4. Children
6.4.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
Chapter 7. Socks Market: Distribution Channel Estimates & Trend Analysis
7.1. Distribution Channel Movement Analysis & Market Share, 2021 & 2030
7.2. Hypermarkets and Supermarkets
7.2.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
7.3. Convenience Stores
7.3.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
7.4. Online
7.4.1. Market Estimates And Forecast, 2017 - 2030 (USD Million)
Chapter 8. Socks Market: Regional Estimates & Trend Analysis
Chapter 9. Competitive Analysis
9.1. Key global players, recent developments & their impact on the industry
9.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
9.3. Vendor Landscape
9.3.1. Key company market share analysis, 2022
Chapter 10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/q5drxb
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