New York, USA, Aug. 30, 2023 (GLOBE NEWSWIRE) -- Socks Market Overview
Market Research Future (MRFR)'s report highlights “Socks Market Information By Product Type, Material, End User, Distribution Channel, And By Region - Forecast till 2030"; the market will achieve USD 2049.82 Billion by 2030 at a 6.06% CAGR.
The increasing number of working individuals and the growing adoption of formal business attire will create ample opportunities for the socks market growth. Besides, the growing sportswear market provides an enormous impetus to the growth of the market.
The increase in textile manufacturing units in the developing markets and the apparel industry worldwide boosts the socks market size. Furthermore, the development of offline and online distribution channels substantiates socks market revenues. The market witnessed an increasing demand, which, in turn, is driving the growth of the socks market.
Get Free Sample PDF Brochure: https://www.marketresearchfuture.com/sample_request/11974
On the other hand, low market penetration in developing countries restrains the growth of the global socks market. However, increasing global demand for sportswear and improving economic conditions & urbanization are estimated to support the market growth allowing the product to garner a vast market prominence.
Report Scope:
| Report Attribute | Details |
| Market Size 2030 | USD 2049.82 Billion |
| CAGR | 6.06% (2023 to 2030) |
| Base Year | 2022 |
| Forecast Period | 2023–2030 |
| Historical Data | 2019 & 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, Material, End User, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growth of different types of socks |
Leading socks Market Players Are:
- Nike Inc (US)
- Puma SE (Germany)
- Adidas AG (Germany)
- Asics Corporation (Japan)
- Renfro Corporation (US)
- THORLO, Inc (US)
- Hanesbrands Inc (US)
- Balega (US)
- Drymax Technologies Inc. (US)
- Under Armour, Inc (US)
Competitive Landscape
Manufacturers operating in this fiercely competitive market strive to deliver the best in quality and reliable products manufactured based on innovative technologies. They also aim to tailor products to the requested specifications. M&A activities, product launches, and collaboration are key strategies market players adopt to churn competitive advantages.
For instance, on Aug.01, 2023, Happy Socks, a Swedish accessories company, announced rebranding by refreshing its logo, website, and more. After two years of development, the brand unveiled a makeover with a refreshed logo, new labels, and on-product branding. The company wanted a new logo defining its marketing and product perspective.
Buy Now: https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=11974
Industry Trends
Socks protect feet and keep them dry while elevating the user's comfort and style. In addition to comfort, users also seek innovative designs, craftsmanship, and satisfaction. With consumers increasingly becoming aware of the environmental impact of their purchases, the demand for socks made of eco-friendly and sustainable materials is on the rise.
Many brands are incorporating recycled materials and sustainable production methods into their sock manufacturing processes. Considering the rise in demand for outstanding socks that can empower individuals to express their unique personalities and passions, leading market players are coming up with innovative designs by prioritizing exclusive licenses with renowned entertainment companies like Marvel, Disney, and Warner Bros.
Segments
The socks market is segmented into product types, materials, end-users, distribution channels, and regions. The product type segment is sub-segmented into athletic socks, specialty socks, trouser socks, casual socks, multiple-toe socks, and others. Of these, the casual socks segment holds the largest socks market share due to increasing disposable income, changing fashion trends, and rising e-commerce sales.
The material segment is sub-segmented into polyester, cotton, wool, and nylon. Among these, the largest segment is cotton as a natural fiber and biodegradable material. The primary benefit of cotton socks is their breathability. Cotton socks are free from chemical additives and, thus, make a good choice for individuals with sensitive skin. They are softer and provide extra comfort than other types of materials.
The end user segment is sub-segmented into men, women, and children. The distribution channel segment is sub-segmented into supermarkets & hypermarkets, convenience stores, specialty stores, and online. By regions, the socks market is segmented into Asia-Pacific, North America, Europe, and the Rest-of-the-World.
Browse In-depth Market Research Report (167 Pages) on Socks Market: https://www.marketresearchfuture.com/reports/socks-market-11974
Regional Analysis
North America will likely witness significant growth in the global socks market. The rising number of e-commerce websites, such as Amazon, Inc., Alibaba Group Holding Ltd., Walmart, and Flipkart, acts as a significant tailwind to the growth of the regional market, widening sales & marketing approaches and range of products to consumers. Moreover, rising investments will likely drive the regional market during the assessment period. The North American socks market will retain its dominance throughout the review period.
Europe is another significantly growing market for socks, where the growing demand for sportswear is driving the market growth. Countries such as Spain, Italy, the UK, and Germany account for prominent consumer markets due to the increasing expenditure on innovation and the growing purchasing power of consumers. Additionally, the growth is attributed to the popularity of adventure sports in the region.
The Asia Pacific socks market is expected to grow with the highest CAGR over the forecast period. Factors such as the burgeoning textile industry and innovative product offerings drive the growth of the socks market in the APAC region. Furthermore, factors such as the availability of low-cost raw materials, land, and a moderate regulatory framework support the regional market's growth.
Discover more research Reports on Consumer And Retail Industry, by Market Research Future:
Waterproof Socks Market Research Report: Information By Material (Nylon, Polypropylene, Wool, Bamboo Rayon, and Others), By End-User (Adults and Children), By Distribution Channel (Store-Based, and Non-Store-Based), and By Region (North America, Europe, Asia-Pacific, and Rest Of The World) –Market Forecast Till 2032
Mountain Bike Footwear and Socks Market Research Report Information by Type (Footwear and Socks), End User (Men, Women and Kids), Distribution Channel (Store-Based and Non-Store-Based) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2027
Bicycle Apparels & Accessories Market Research Report Information By Type (Helmets, Jerseys & Tees, Gloves, Pants & Shorts, Shoes, Goggles & Glasses, Protection Gears, Socks And Others), By Category (Mountain Bikes, Road Bikes, City Bikes And Others), By Distribution Channel (Store-Based (Supermarkets & Hypermarkets, Specialty Stores and Others) And Non-Store-Based) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Contact:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
Press Release: https://www.marketresearchfuture.com/press-release/socks-market
