Market Trends of Socks Industry
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.
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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.
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