Global Socks Market Insights
The global socks market is estimated to witness a high CAGR during the forecast period (2019-2026). Growing importance of maintaining formal clothing among white-collar professionals, and the improvement of fashion trends are some of the major factors driving the socks market. Rise in the investments made in the branding of product is expected to propel the market growth during the forecast period. Growing innovations and modifications in the textile industry, and healthcare sector is driving the market during the forecast period. However, lack of knowledge about socks, and stringent norms by the government, and environmental regulations are likely to hamper the market growth during the forecast period.
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Socks Market: By Product Type
On the basis of product, the global socks market is segmented into specialty socks, sports & athletic socks, trouser socks, ankle length socks, and casual socks. The casual socks segment is expected to grow in terms of market share during the forecast period. Moreover, a significant number of consumers use casual socks made of polyester and nylon because of their comfort and easy availability. Specialty socks are moisturizing fabrics, and an elastic-free top helps prevent painful leg indentation. It is highly recommended for people with arthritis, diabetes, or any other condition where it is necessary to protect against irritation. Significant rise of consumer inclination towards natural fabrics in developing countries such as India, China, and Mexico is expected to create a healthy growth opportunity for socks manufacturers. Furthermore, increased production of athletic socks and increased transportation costs are expected to boost the market for socks. The specialty socks segment is expected to grow at the highest CAGR during the forecast period. Furthermore, athletic socks segment is also expected to grow at a high CAGR during the forecast period. Such materials are favored by athletes, and fitness practitioners as they are capable of protecting blisters and preventing legs from sliding inside boots. Some of the leading brands which are in athletic socks include Adidas, and Nike among others.
Socks Market: By Material Type
On the basis of material type, the market is segmented into cotton, wool, nylon, acrylic, spandex, polyester, and among others. Nylon segment is expected to grow at the highest CAGR during the forecast period. Growing demand of nylon in applications such as textile is expected to fuel the socks market growth. It has resulted in the increased demand for socks in the global market. Furthermore, consumers are preferring natural fibers over synthetic fibers. Physical testing helps to determine the properties of the materials. Polyester can be used to supply hollow fabrics. Such fibers wear and tear longer than cotton and maintain their shapes in harsh climatic conditions, ideally for outdoor clothing. However, the polyester is expected to continue its steady growth rate, thereby estimated to gain pace during the forecast period.
Socks Market: By End User
On the basis of end user, the market is segmented into men, kids, and women. The men segment is estimated to account for the largest market share, in terms of value during the forecast period. Moreover, rising expenditure on health, and fitness among adults is projected to boost the market for different shoe accessories, such as sports socks and ankle socks. The women segment is estimated to grow at the highest CAGR between 2019 and 2026. The rise in the number of working-class women at the global level is expected to have a positive impact on the growth of the segment.
Socks Market: By Sales Channel
On the basis of sales channel, the market is segmented into retail apparel chains, independent retail outlets, and online retailers, among others. Online retailers segment is expected to grow at the highest CAGR during the forecast period. Growing use of online retail services is driving sales of socks and related products throughout China and Japan, among others. Consumers, particularly the working class, prefer online retail over offline retail because of their busy schedules. The online market is expanding due to easy product selection and door-to-door product delivery. Independent retail outlets is expected to hold the largest market share during the forecast period. Furthermore, consumers prefer to purchase from hypermarkets and supermarkets because of the availability of different types of products from different suppliers in a single-purchase window.
Socks Market: By Region
On the basis of region, the market for socks is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America. Asia Pacific is expected to grow at the highest CAGR during the forecast period. Growing population and urbanization in the region is propelling the socks market growth. The North America region is expected to hold the largest market share during the forecast period. Europe is expected to hold the second largest market share due to increased government spending on health and fitness projects. Growing wholesale, and retail outlets in emerging countries including China, India, Japan, South Korea and Singapore among others is propelling the market growth in the region. Some of the leading brands in the U.S. and Canada namely Adidas A.G., and Nike, Inc. among others are expected to ensure consistent delivery of the product to customers.
Socks Market: End Use Landscape
The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section briefs you about company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase. The key end-users of the markets are Walmart, Big bazaar, Clarks, and Deichmann among others.
Socks Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the Socks market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Socks Market Share & Competitor Analysis
Some of the key players operating in the Socks market are Adidas Group, Jockey, Puma, Nike, Inc., Rawlings, Glidan Activewear Inc., Mizuno, Asics Corporation, Renfro Corporation; THORLO, Inc., Hanesbrands Inc., Balega, Drymax Technologies Inc., United Legwear & Apparel Co.,LLC, Under Armour, Inc., Delta Galil, Darn Tough, Falke, Monnet, New Balance, Camano, and Bridgedale among others.
- In November 2019, Jockey signed a partnership agreement with Thoroughbred Safety Coalition to develop new reforms to ensure the safety of the sport’s equine and human athletes
- In May 2018, United Legwear & Apparel Co., LLC, launched 150 styles of men and women socks in their online portals
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