Pune, India, Dec. 17, 2021 (GLOBE NEWSWIRE) -- The global socks market size will experience substantial growth because of the multifunctional nature of legwear items, states Fortune Business Insights™ in its report, titled "Socks Market, 2021-2028."
Because of the rising per-capita income, the demand for socks and other such hosiery from athletes and people leading an active lifestyle is expected to boost the market. In addition, medical professionals prescribe the use of diabetic socks to patients suffering from diseases such as foot ulcers and other infections that occur because of diabetes. Furthermore, they are useful for people with hydrophobia as they soak excess sweat and enable patients to function better. Further, socks also find use in yoga and meditation activities that are growing in popularity in urban areas. In addition, the use of socks in the fitness and health industry by athletes, bodybuilders, and individuals to pursue a healthy lifestyle is also expected to influence market growth.
Fortune Business Insights™ lists out all the socks market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- Puma S.E.
- Adidas A.G.
- Asics Corporation
- Renfro Corporation
- THORLO Inc.
- Nike Inc.
- Hanesbrand Inc.
- Balega
- Drymax Technologies Inc.
- Under Armour Inc.
- United Legwear & Apparel Co.
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Highlights of the Report
The report conducts a detailed analysis of the latest market trends, leading segments, and other factors influencing market growth. It comprehensively discusses the regional developments of the market. Additionally, it examines the impacts of COVID-19 on this market and studies the strategies devised by the key players of the market.
Drivers and Restraints
Emerging Socks Brands with Increasing Retail Stores to Positively Affect Market Growth
Numerous brands, such as Champion, Tippitoes, Hanes, Blue Q, and others, are supplying socks to various retailers and shops globally to increase their sales volume. In addition, social media platforms are being extensively utilized to promote brands worldwide and boost demand. Furthermore, socks are available in several colors, varieties, and sizes, designed by new companies. Therefore, the availability of socks in several shops and their widening varieties are expected to drive the growth of this market.
The soaring popularity of slippers, sandals, and flip-flops instead of shoes, which necessitate the use of socks, is expected to hamper the market growth. Additionally, socks made from cheap quality materials cause skin rashes, irritation, and redness, which may also restrain the market’s growth.
Regional Insights
Presence of Numerous Sock Brands to Aid Asia Pacific to Lead the Market
The Asia Pacific region is anticipated to dominate the socks market share due to the presence of several brands in the region, such as Tosside, Asics Corporation, Jockey, and others. In addition, countries such as India and China are the leading producers of footwear in the region and are thus well-poised to drive the market’s growth.
Owing to North America's substantial import of footwear products from the Asia Pacific region, the market is anticipated to grow. The amount of imports from countries in Asia Pacific is expected to significantly escalate in the coming years, attracting growth in the region.
Segments
Based on product type, the market is segmented into casual socks, formal socks, and athletic socks. As per raw material, it is segregated into nylon socks, cotton socks, polyester socks, and others. On the basis of end-user, it is divided into males, females, and kids. It is categorized by distributional channels into hypermarkets/supermarkets, convenience stores, and online. Geographically, it is distributed into North America, Asia Pacific, Europe, South America, and the Middle East & Africa.
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Competitive Landscape
Launch of Socks Targeted for Gaming Audience to Expand Puma’s Market Presence
In an attempt to expand its activities, Puma launched socks in three different segments targeted at the gaming audience in December 2019. Furthermore, to stay relevant, companies have introduced socks targeting people with excessive sweating and athletes by incorporating a new technology that provides durable and soaking features, garnering huge attention from enthusiasts. Additionally, partnerships between key players with other companies have encouraged the production of innovative socks.
The Global Socks Market Research/Analysis Report Contains Answers to your following Questions:
- Which Manufacturing Technology is used for Socks ? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Socks Market? What are Their Company Profile, Their Product Information, and Contact Information?
- What Was Global Market Status of Socks Market? What Was Capacity, Production Value, Cost and PROFIT of Socks Market?
- What Is Current Market Status of Socks Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Socks Market Trends by Taking Applications and Types in Consideration?
- What Are Projections of Global Socks Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
- What Is Socks Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Socks Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Socks Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Socks Industry?
Industry Development
January 2020: Happy Socks and Linda Ramone partnered with each other to launch a brand new and lively set of socks as a memory to her late husband Johnny Ramone. The theme of the collection is their love for each other, with the items in the set featuring motifs derived from their unique style and eclectic home décor.
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