Socks market 2023-2027 | APAC will account for 32% of the market's growth during the forecast period - Technavio

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Oct 31, 2023, 00:35 ET

NEW YORK, Oct. 31, 2023 /PRNewswire/ -- According to Technavio, the global socks market size is estimated to grow by USD 15,051.43 million from 2022 to 2027. The market is estimated to grow at a CAGR of 5.62%. Moreover, the growth momentum will accelerate. APAC will account for 32% of the market's growth during the forecast period. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. For more insights on the market, request a sample report

Technavio has announced its latest market research report titled Global Socks Market 2023-2027

Socks market - Five forces
The global socks market is fragmented, and the five forces analysis covers–

Bargaining power of buyers
The threat of new entrants
Threat of rivalry
Bargaining power of suppliers
Threat of substitutes
For an interpretation of Porter's five forces model – buy the report!

Socks market – Customer landscape

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Socks market - Segmentation assessment

Segment overview
Technavio has segmented the market based on distribution channel (offline and online) and product (plain-knitted, rib-knitted, and terry-knitted).

The offline segment will account for a significant share of the market's growth during the forecast period. The sales of products through hypermarkets, supermarkets, and franchised stores primarily contribute to the revenue of the offline distribution channel. Market players are expanding their product portfolios in the global, regional, and local markets to increase sales through offline channels. In addition, retailers of socks are introducing new business and retail strategies such as attractive pricing and a wide range of products to sustain in such a competitive market. These factors will drive the segment growth during the forecast period.

Geography overview
Based on geography, the global socks market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global socks market.

APAC is estimated to account for 32% of the growth of the global market during the forecast period. This growth is attributed to factors such as rising disposable incomes, rapid growth of the retail industry, shift toward sports and athletic activities, and the increasing importance of formal attire in corporate offices. In addition, the increasing number of professional sports leagues is expected to provide will drive the spending on premium sports accessories, such as shoes and socks. This, in turn, will fuel the growth of the regional market during the forecast period.

Download a sample report

Socks market – Market dynamics
Key factor driving market growth

The rising demand for specialized socks products is driving the market growth.
The sales of different types of socks, including professional socks, have increased.
The rise in the sales of sports shoes has also increased the demand for socks with special features.
Doctor-recommended socks are another category that is expected to generate significant revenue. For instance, manufacturers of specialty socks are focusing on developing socks that cater to diabetes patients.
These factors will fuel the growth of the market during the forecast period.

Leading trends influencing the market

The launch of socks that track the temperature, movement, and location of infants is a key trend in the market.
With the help of smart technology for babies, parents can access an entire network of connected technology to monitor the activities of their children.
This allows them to receive feedback from feeding bottles, pacifiers, cribs, prams, clothes, and more.
For instance, in August 2021, Owlet announced the launch of Smart Sock Plus, which monitors a child's vital parameters up to the age of 5 years. Parents can keep tabs on their children's heart rates, blood oxygen levels, and sleep trends.
Therefore, the innovation of smart technology in baby care will support the market growth during the forecast period.

Major challenges hindering market growth

Rising demand for synthetic or manmade fibers is challenging market growth.
Synthetic fibers have properties such as high strength and a low absorption rate when compared to natural fibers.
As a result, socks made from these fibers are more durable, last longer, and dry quickly after washing.
Most natural fibers are expensive, especially in their pure forms.
Hence, synthetic fibers are low-cost alternatives to natural products.
These factors will challenge the growth of the market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this socks market report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the socks market between 2023 and 2027
Precise estimation of the size of the socks market and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the socks market across APAC, Europe, North America, South America, and Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of socks market vendors

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Socks Market Scope
Report Coverage	Details
Page number	162
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 5.62%
Market growth 2023-2027	USD 15,051.43 million
Market structure	Fragmented
YoY growth 2022-2023 (%)	5.23
Regional analysis	APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution	APAC at 32%
Key countries	US, Turkey, China, UK, and Germany
Competitive landscape	Leading vendors, market positioning of vendors, competitive strategies, and industry risks
Key companies profiled	adidas AG, ASICS Corp., Drew Brady and Co Ltd., Drymax Technologies Inc., FALKE KGaA, Glen Clyde Co., Ltd., Hanesbrands Inc., Implus Footcare LLC, Jockey International Inc., John Smedley Ltd., Nike Inc., OEJBRO ENGROS AB, Pantherella International Group Ltd., Patagonia Inc., PUMA SE, Ralph Lauren Corp., Skechers USA Inc., Swedish Socks AB, Thorlos, and Under Armour Inc.
Market dynamics	Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse for Technavio's consumer discretionary market reports

Table of contents

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (USD million)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (USD million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global socks market 2017 - 2021

Exhibit 18: Historic Market Size – Data Table on Global socks market 2017 - 2021 (USD million)

4.2 Distribution channel Segment Analysis 2017 - 2021

Exhibit 19: Historic Market Size – Distribution channel Segment 2017 - 2021 (USD million)

4.3 Product Segment Analysis 2017 - 2021

Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 (USD million)

4.4 Geography Segment Analysis 2017 - 2021

Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 (USD million)

4.5 Country Segment Analysis 2017 - 2021

Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 (USD million)

5 Five Forces Analysis

5.1 Five forces summary

Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers

Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers

Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants

Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes

Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry

Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition

Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

6.1 Market segments

Exhibit 30: Chart on Distribution Channel - Market share 2022-2027 (%)
Exhibit 31: Data Table on Distribution Channel - Market share 2022-2027 (%)

6.2 Comparison by Distribution Channel

Exhibit 32: Chart on Comparison by Distribution Channel
Exhibit 33: Data Table on Comparison by Distribution Channel

6.3 Offline - Market size and forecast 2022-2027

Exhibit 34: Chart on Offline - Market size and forecast 2022-2027 (USD million)
Exhibit 35: Data Table on Offline - Market size and forecast 2022-2027 (USD million)
Exhibit 36: Chart on Offline - Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on Offline - Year-over-year growth 2022-2027 (%)

6.4 Online - Market size and forecast 2022-2027

Exhibit 38: Chart on Online - Market size and forecast 2022-2027 (USD million)
Exhibit 39: Data Table on Online - Market size and forecast 2022-2027 (USD million)
Exhibit 40: Chart on Online - Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Online - Year-over-year growth 2022-2027 (%)

6.5 Market opportunity by Distribution Channel

Exhibit 42: Market opportunity by Distribution Channel (USD million)

7 Market Segmentation by Product

7.1 Market segments

Exhibit 43: Chart on Product - Market share 2022-2027 (%)
Exhibit 44: Data Table on Product - Market share 2022-2027 (%)

7.2 Comparison by Product

Exhibit 45: Chart on Comparison by Product
Exhibit 46: Data Table on Comparison by Product

7.3 Plain-knitted - Market size and forecast 2022-2027

Exhibit 47: Chart on Plain-knitted - Market size and forecast 2022-2027 (USD million)
Exhibit 48: Data Table on Plain-knitted - Market size and forecast 2022-2027 (USD million)
Exhibit 49: Chart on Plain-knitted - Year-over-year growth 2022-2027 (%)
Exhibit 50: Data Table on Plain-knitted - Year-over-year growth 2022-2027 (%)

7.4 Rib-knitted - Market size and forecast 2022-2027

Exhibit 51: Chart on Rib-knitted - Market size and forecast 2022-2027 (USD million)
Exhibit 52: Data Table on Rib-knitted - Market size and forecast 2022-2027 (USD million)
Exhibit 53: Chart on Rib-knitted - Year-over-year growth 2022-2027 (%)
Exhibit 54: Data Table on Rib-knitted - Year-over-year growth 2022-2027 (%)

7.5 Terry-knitted - Market size and forecast 2022-2027

Exhibit 55: Chart on Terry-knitted - Market size and forecast 2022-2027 (USD million)
Exhibit 56: Data Table on Terry-knitted - Market size and forecast 2022-2027 (USD million)
Exhibit 57: Chart on Terry-knitted - Year-over-year growth 2022-2027 (%)
Exhibit 58: Data Table on Terry-knitted - Year-over-year growth 2022-2027 (%)

7.6 Market opportunity by Product

Exhibit 59: Market opportunity by Product (USD million)

8 Customer Landscape

8.1 Customer landscape overview

Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation

Exhibit 61: Chart on Market share by geography 2022-2027 (%)
Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

9.2 Geographic comparison

Exhibit 63: Chart on Geographic comparison
Exhibit 64: Data Table on Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

Exhibit 65: Chart on APAC - Market size and forecast 2022-2027 (USD million)
Exhibit 66: Data Table on APAC - Market size and forecast 2022-2027 (USD million)
Exhibit 67: Chart on APAC - Year-over-year growth 2022-2027 (%)
Exhibit 68: Data Table on APAC - Year-over-year growth 2022-2027 (%)

9.4 Europe - Market size and forecast 2022-2027

Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 (USD million)
Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 (USD million)
Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)

9.5 North America - Market size and forecast 2022-2027

Exhibit 73: Chart on North America - Market size and forecast 2022-2027 (USD million)
Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 (USD million)
Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)

9.6 South America - Market size and forecast 2022-2027

Exhibit 77: Chart on South America - Market size and forecast 2022-2027 (USD million)
Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 (USD million)
Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)

9.7 Middle East and Africa - Market size and forecast 2022-2027

Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 (USD million)
Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 (USD million)
Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

9.8 China - Market size and forecast 2022-2027

Exhibit 85: Chart on China - Market size and forecast 2022-2027 (USD million)
Exhibit 86: Data Table on China - Market size and forecast 2022-2027 (USD million)
Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)

9.9 Turkey - Market size and forecast 2022-2027

Exhibit 89: Chart on Turkey - Market size and forecast 2022-2027 (USD million)
Exhibit 90: Data Table on Turkey - Market size and forecast 2022-2027 (USD million)
Exhibit 91: Chart on Turkey - Year-over-year growth 2022-2027 (%)
Exhibit 92: Data Table on Turkey - Year-over-year growth 2022-2027 (%)

9.10 US - Market size and forecast 2022-2027

Exhibit 93: Chart on US - Market size and forecast 2022-2027 (USD million)
Exhibit 94: Data Table on US - Market size and forecast 2022-2027 (USD million)
Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)

9.11 UK - Market size and forecast 2022-2027

Exhibit 97: Chart on UK - Market size and forecast 2022-2027 (USD million)
Exhibit 98: Data Table on UK - Market size and forecast 2022-2027 (USD million)
Exhibit 99: Chart on UK - Year-over-year growth 2022-2027 (%)
Exhibit 100: Data Table on UK - Year-over-year growth 2022-2027 (%)

9.12 Germany - Market size and forecast 2022-2027

Exhibit 101: Chart on Germany - Market size and forecast 2022-2027 (USD million)
Exhibit 102: Data Table on Germany - Market size and forecast 2022-2027 (USD million)
Exhibit 103: Chart on Germany - Year-over-year growth 2022-2027 (%)
Exhibit 104: Data Table on Germany - Year-over-year growth 2022-2027 (%)

9.13 Market opportunity by geography

Exhibit 105: Market opportunity by geography (USD million)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

Exhibit 106: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption

Exhibit 108: Overview on factors of disruption

11.4 Industry risks

Exhibit 109: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered

Exhibit 110: Vendors covered

12.2 Market positioning of vendors

Exhibit 111: Matrix on vendor position and classification

12.3 adidas AG

Exhibit 112: adidas AG - Overview
Exhibit 113: adidas AG - Business segments
Exhibit 114: adidas AG - Key news
Exhibit 115: adidas AG - Key offerings
Exhibit 116: adidas AG - Segment focus

12.4 ASICS Corp.

Exhibit 117: ASICS Corp. - Overview
Exhibit 118: ASICS Corp. - Business segments
Exhibit 119: ASICS Corp. - Key news
Exhibit 120: ASICS Corp. - Key offerings
Exhibit 121: ASICS Corp. - Segment focus

12.5 Drymax Technologies Inc.

Exhibit 122: Drymax Technologies Inc. - Overview
Exhibit 123: Drymax Technologies Inc. - Product / Service
Exhibit 124: Drymax Technologies Inc. - Key offerings

12.6 FALKE KGaA

Exhibit 125: FALKE KGaA - Overview
Exhibit 126: FALKE KGaA - Product / Service
Exhibit 127: FALKE KGaA - Key offerings

12.7 Hanesbrands Inc.

Exhibit 128: Hanesbrands Inc. - Overview
Exhibit 129: Hanesbrands Inc. - Business segments
Exhibit 130: Hanesbrands Inc. - Key offerings
Exhibit 131: Hanesbrands Inc. - Segment focus

12.8 Implus Footcare LLC

Exhibit 132: Implus Footcare LLC - Overview
Exhibit 133: Implus Footcare LLC - Product / Service
Exhibit 134: Implus Footcare LLC - Key offerings

12.9 Jockey International Inc.

Exhibit 135: Jockey International Inc. - Overview
Exhibit 136: Jockey International Inc. - Product / Service
Exhibit 137: Jockey International Inc. - Key offerings

12.10 Nike Inc.

Exhibit 138: Nike Inc. - Overview
Exhibit 139: Nike Inc. - Business segments
Exhibit 140: Nike Inc. - Key news
Exhibit 141: Nike Inc. - Key offerings
Exhibit 142: Nike Inc. - Segment focus

12.11 Pantherella International Group Ltd.

Exhibit 143: Pantherella International Group Ltd. - Overview
Exhibit 144: Pantherella International Group Ltd. - Product / Service
Exhibit 145: Pantherella International Group Ltd. - Key offerings

12.12 Patagonia Inc.

Exhibit 146: Patagonia Inc. - Overview
Exhibit 147: Patagonia Inc. - Product / Service
Exhibit 148: Patagonia Inc. - Key offerings

12.13 PUMA SE

Exhibit 149: PUMA SE - Overview
Exhibit 150: PUMA SE - Business segments
Exhibit 151: PUMA SE - Key news
Exhibit 152: PUMA SE - Key offerings
Exhibit 153: PUMA SE - Segment focus

12.14 Ralph Lauren Corp.

Exhibit 154: Ralph Lauren Corp. - Overview
Exhibit 155: Ralph Lauren Corp. - Business segments
Exhibit 156: Ralph Lauren Corp. - Key offerings
Exhibit 157: Ralph Lauren Corp. - Segment focus

12.15 Skechers USA Inc.

Exhibit 158: Skechers USA Inc. - Overview
Exhibit 159: Skechers USA Inc. - Business segments
Exhibit 160: Skechers USA Inc. - Key news
Exhibit 161: Skechers USA Inc. - Key offerings
Exhibit 162: Skechers USA Inc. - Segment focus

12.16 Thorlos

Exhibit 163: Thorlos - Overview
Exhibit 164: Thorlos - Product / Service
Exhibit 165: Thorlos - Key offerings

12.17 Under Armour Inc.

Exhibit 166: Under Armour Inc. - Overview
Exhibit 167: Under Armour Inc. - Business segments
Exhibit 168: Under Armour Inc. - Key offerings
Exhibit 169: Under Armour Inc. - Segment focus

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

Exhibit 170: Inclusions checklist
Exhibit 171: Exclusions checklist

13.3 Currency conversion rates for USUSD

Exhibit 172: Currency conversion rates for USUSD

13.4 Research methodology

Exhibit 173: Research methodology
Exhibit 174: Validation techniques employed for market sizing
Exhibit 175: Information sources

13.5 List of abbreviations

Exhibit 176: List of abbreviations

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio