Socks Market Size
| Study Period | 2024 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.80 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
Socks Market Analysis
The socks market is projected to record a CAGR of 6.8% over the next five years.
- The demand for socks and other types of hosiery from athletes and people leading active lifestyles is anticipated to increase due to the rising per-capita income. Socks are also helpful for hydrophobic individuals since they absorb extra sweat and improve function. Moreover, yoga and meditation, which are becoming more and more popular in cities, make use of socks. Also, the usage of socks in the fitness and health sector by athletes, bodybuilders, and regular people seeking a healthy lifestyle is anticipated to have an impact on the market expansion.
- The demand for eco-friendly and sustainable socks is expected to drive market growth in the coming years. Additionally, the increasing adoption of e-commerce platforms for the sale of socks is expected to further boost market growth, as these platforms allow consumers to browse and purchase a wide range of socks from the comfort of their homes.
- The increasing trend of formal clothing among white-collar professionals is anticipated to play a vital role in boosting product demand. This, in turn, is estimated to increase market growth over the forecast period. Furthermore, growing spending on health, as well as fitness, is anticipated to fuel the demand for different footwear accessories that include sports socks and ankle socks.
- Over the last couple of years, different healthcare professionals have increased their spending on publishing several research papers on keeping the feet healthy in light of growing occurrences of foot disorders related to diabetic patients. India has the second-largest diabetic population in the world, which is expected to grow significantly in the upcoming years. As foot care is crucial for diabetics, socks are recommended by health care professionals.
- Medical specialists recommend diabetic socks to patients with conditions like foot ulcers and other infections brought on by diabetes. Moreover, innovations and investments by the leading players have led to the development of diabetic socks, which are designed to keep feet dry, enhance blood circulation, and decrease the risk of a foot injury. The socks are designed to address foot-related issues and improve foot health.
Socks Market Trends
Increase in Participation In Adventure Sport Activities Drives the Market
- There has been a recent uptick in ecotourism, as well as various leisure pursuits and recreational activities like mountain climbing, gliding, skiing, and trekking. The youth and millennials are being encouraged to participate in fitness and adventure activities through promotional activities such as fitness campaigns and package trip operators.
- For instance, according to Sports Marketing Surveys USA, around 58.7 million people in the United States participated in hiking activities in 2021. Also, the trend of adventure activities is fast spreading around the globe. As a result, there has been an increase in the market for adventure equipment.
- Travelers often prefer shoes and personalized socks since they are convenient for fitness activities and adventure activities. As a consequence of this, the demand for socks is also increasing in conjunction with the rise in the level of physical activity among young people.
- Additionally, the global socks market is expected to grow with the increasing use of socks to protect the foot from heat or cold conditions during the rainy season. Socks are available in different varieties as per the length, size, colors, and applications sold by different socks brands worldwide. Furthermore, socks are widely used during yoga and meditation, which is thereby leading to positive industry growth.
- In addition, social media platforms are being extensively utilized to promote brands worldwide and boost demand. Furthermore, socks are made available in several colors, varieties, and sizes by the companies operating in the market. Therefore, the availability of socks in several shops and their widening varieties are expected to drive the growth of this market.
Asia Pacific Held the Largest Share of the Market
- There has been a growth in demand for high-quality socks in the region as a result of rising levels of discretionary spending as well as shifting consumer preferences. As people become more fashion-conscious and look for ways to show their unique identities via the clothes they wear, socks have emerged as a popular item that can be worn with various outfits.
- 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.
- An increase in expenditure on health and fitness is anticipated to drive up demand for various shoe accessories, such as sports socks and ankle socks when people work out in gyms and health clubs. Over the past several years, numerous healthcare professionals have increased their spending on publishing various research papers on maintaining a healthy foot.
- China, India, and Bangladesh are just a few of the major textile and apparel manufacturing centers in the Asia Pacific region. These nations are the best places to produce socks since they have a sizable labor force and affordable labor expenses.
- Finally, the demand for socks made of natural fibers like cotton, bamboo, and hemp has increased due to growing awareness of the value of sustainability and eco-friendliness. These materials are widely used by sock producers in the Asia-Pacific area to meet the rising demand for environmentally friendly and sustainable products.
- For instance, the government of China has introduced a program known as "Green Manufacturing," which encourages businesses to lessen their environmental impact by reducing their carbon footprint and increasing their energy efficiency. This could result in the creation of more sustainable and environmentally friendly socks, which are becoming increasingly popular among customers. All the above-mentioned factors drive the Asia Pacific socks market.
Socks Industry Overview
The global socks market is a highly competitive industry dominated by key players such as Adidas AG, Nike Inc., and Asics Corporation, among others. To enhance the market value of their products, these companies are implementing various innovative marketing strategies. In addition, some of these players are engaging in mergers and acquisitions with foreign and local brands in the region to expand their portfolios. Given the growth potential of the global socks market, all these players are expected to remain active and continue to invest in the industry.
Socks Market Leaders
-
Nike Inc.
-
Adidas A.G.
-
Puma S.E.
-
Hanesbrand Inc.
-
Asics Corporation
*Disclaimer: Major Players sorted in no particular order
.webp)
Socks Market News
- March 2023: Balenzia Socks, a leading premium sock brand, opened their third store of the year at VR Mall in Surat, India.
- March 2023: Swiftwick launched their MAXUS sock, featuring a high-performance footbed made from REPREVE, a recycled polyester material.
- October 2022: Puma S.E introduced a new line of triple socks designed for men.
- June 2022: Osan and Sockshop obtained the license for Caroline Gardner socks in the United Kingdom.
- Feb 2022: CEP launched its run sock collection, which includes five products designed to cater to various needs. The collection features knee-high socks, calf sleeves, and mid-cut, low-cut, and no-show socks, all of which come equipped with intelligent features to improve performance, reduce fatigue, and provide unmatched comfort.
Table of Contents
1. INTRODUCTION
1.1 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Athletic Socks
5.1.2 Trousers Socks
5.1.3 Casual Socks
5.2 End-User
5.2.1 Men
5.2.2 Women
5.2.3 Kids
5.3 Distribution Channel
5.3.1 Supermarkets/Hypermarkets
5.3.2 Specialty Stores
5.3.3 Online Stores
5.3.4 Other Distribution Channels
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Russia
5.4.2.5 Italy
5.4.2.6 Spain
5.4.2.7 Rest of Europe
5.4.3 Asia Pacific
5.4.3.1 India
5.4.3.2 China
5.4.3.3 Japan
5.4.3.4 Austrsalia
5.4.3.5 Rest of Asia Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle East and Africa
5.4.5.1 United Arab Emirates
5.4.5.2 South Africa
5.4.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Strategies adopted by Key players
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Nike Inc.
6.3.2 Adidas A.G.
6.3.3 Asics Corporation
6.3.4 VF Corp.
6.3.5 Jockey International Inc.
6.3.6 Puma S.E.
6.3.7 Falke KGaA
6.3.8 Skechers USA, Inc.
6.3.9 V. K. Knitting Industries
6.3.10 Hanesbrand Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Socks Industry Segmentation
Socks are a type of garment that is worn on the feet and designed to provide warmth, comfort, and protection.
The socks market is segmented by product type into athletic socks, trouser socks, and casual socks. By end-user into men, women, and kids. By distribution channel into supermarkets/hypermarkets, specialty stores, online stores, and other distribution channels, and by geography into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
For each segment, market sizing and forecast have been done based on value (USD million).
| Product Type | |
| Athletic Socks | |
| Trousers Socks | |
| Casual Socks |
| End-User | |
| Men | |
| Women | |
| Kids |
| Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Specialty Stores | |
| Online Stores | |
| Other Distribution Channels |
| Geography | |||||||||
| |||||||||
| |||||||||
| |||||||||
| |||||||||
|
Frequently Asked Questions
What is the current Socks Market size?
The Socks Market is projected to register a CAGR of 6.80% during the forecast period (2024-2029)
Who are the key players in Socks Market?
Nike Inc., Adidas A.G., Puma S.E., Hanesbrand Inc. and Asics Corporation are the major companies operating in the Socks Market.
Which is the fastest growing region in Socks Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Socks Market?
In 2024, the North America accounts for the largest market share in Socks Market.
What years does this Socks Market cover?
The report covers the Socks Market historical market size for years: . The report also forecasts the Socks Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Socks Industry Report
Statistics for the 2024 Socks market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Socks analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
