Global Socks Market Is Expected To Reach around USD 24.16 Billion by 2025 with CAGR of 10.09% - Zion Market Research

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Zion Market Research

Oct 19, 2021, 22:30 ET

NEW YORK, Oct. 19, 2021 /PRNewswire/ -- Zion Market Research has published a new report titled "Socks Market By Product Type (Athletic Socks, Specialty Socks, Trouser Socks, Casual Socks, and Multiple Toe Socks), By Material (Nylon, Cotton, Polyester, Wool, and Waterproof Breathable Membrane), By End-User (Men, Women, and Kids), and By Distribution Channel (Wholesale, Supermarkets & Hypermarkets, and Online Stores): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025". According to the report, the global socks market was valued around USD 11.7 billion in 2018 and is expected to reach around USD 24.16 billion by 2025, at a CAGR of slightly above 10.09% between 2019 and 2025.

Generally, footwear is worn over socks. Socks serves casual, medical, and sports purposes. Socks are made using different materials, such as nylon, wool, and cotton. In addition, socks are designed to prevent feet from severe temperatures or severe environmental conditions or for fashion purposes. However, socks can only deliver warmth and comfort if they are designed and measured correctly by the designer.

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The major driver of the socks market is increasing demand for different shoes. For instance, increasing demand for sports shoes is likely to increase the demand for sports socks. The increasing demand for socks by males is expected to boost the socks market over the forecast time period. It has been found that nearly half of the men wear socks while performing their day-to-day activities. In addition, around 50% of the global population uses socks every day. This can result in the growth of the men's apparel industry over the estimated timeline.

The global socks market can be classified into product type, material, end-user, and distribution channel. By product type, the market includes athletic socks, specialty socks, trouser socks, casual socks, and multiple toe socks. Specialty socks will have the largest market share in the global socks market in the future. Based on material, the market is segmented into nylon, polyester, waterproof breathable membrane, cotton, and wool. Nylon and cotton segments dominated the market in 2018 and are projected to witness strong growth in the years to come. The end-user segment includes men, women, and kids. The men segment dominated the global socks market and held around half of the total revenue generated in 2018. The distribution channel segment includes wholesale, supermarkets and hypermarkets, and online stores.

By region, Asia Pacific accounted for the largest market share in terms of revenue in 2018 and is expected to show good growth over the estimated timeframe. This growth can be attributed to the thriving retail sector in Asia Pacific countries, such as China and India, and increasing fashion trends among the youth. In addition, the demand for cotton and woolen clothes is declining in developing countries due to their high costs. The growing use of syntactic fabric for the manufacturing of socks in the region's developing countries is fuelling the growth of socks market in developing countries. The European socks market is anticipated to experience substantial growth in the future, owing to the increasing fashion trends and cold weather conditions. Europe holds the second largest share of the socks market in the world.

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Some key players of the global socks market include Drymax Technologies Inc., Nike Inc., Under Armour, Inc., Adidas AG, Renfro Corporation, THORLO, Inc., Hanesbrands Inc., Asics Corporation, Balega, and Puma SE.

This report segments the global socks market into:

Global Socks Market: Product Type Analysis

  • Specialty Socks
  • Athletic Socks
  • Trouser Socks
  • Casual Socks
  • Multiple Toe Socks

Global Socks Market: Material Analysis

  • Nylon
  • Cotton
  • Polyester
  • Wool
  • Waterproof Breathable Membrane

Global Socks Market: End-User Analysis

  • Men
  • Women
  • Kids

Global Socks Market: Distribution Channel Analysis

  • Wholesale
  • Supermarkets and Hypermarkets
  • Online Stores

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By Region

North America

  • The U.S.
  • Canada

Europe

  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East & Africa

  • GCC
  • South Africa
  • Rest of Middle East & Africa

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