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    Socks Market

    ID: MRFR/CR/10453-CR
    167 Pages
    Snehal Singh
    July 2023

    Socks Market Research Report Information by Product Type (Athletic Socks, Specialty Socks, Trouser Socks, Casual Socks, Multiple Toe Socks, and Others), Material (Polyester, Cotton, Wool, and Nylon), End User (Men, Women, and Children), Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Specialty Stores, and Online), And by Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) - Forecast Till 2030

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    Socks Market Summary

    As per Market Research Future Analysis, the Global Socks Market was valued at USD 12,800.27 million in 2022 and is projected to reach USD 20,498.82 million by 2030, growing at a CAGR of 6.06% from 2023 to 2030. The market growth is driven by the increasing number of socks brands, the rise of retail stores, and the launch of attractive patterns and prints. The casual socks segment dominated the market in 2022, fueled by rising disposable incomes and changing fashion trends. Additionally, the demand for eco-friendly materials is on the rise, with brands incorporating sustainable practices into their production processes.

    Key Market Trends & Highlights

    Key trends influencing the socks market include the rise of smart technology and the popularity of compression socks.

    • Compression socks are increasingly popular among athletes and individuals with sedentary jobs, enhancing blood flow and reducing fatigue.
    • The casual socks segment is expected to grow due to rising disposable income and e-commerce sales.
    • Smart socks for infants are gaining traction among Millennial parents, integrating technology for monitoring health and activity.
    • Cotton socks are in high demand due to their comfort, breathability, and eco-friendliness.

    Market Size & Forecast

    2022 Market Size USD 12,800.27 million
    2023 Market Size USD 13,386.54 million
    2030 Market Size USD 20,498.82 million
    CAGR (2023-2030) 6.06%

    Major Players

    Key companies include Nike Inc, Puma S.E., Adidas A.G, Asics Corporation, Renfro Corporation, and Hanesbrands Inc.

    Socks Market Trends

    Growth of different types of socks

    The compression socks have become increasingly popular in recent years, and for good reason. These socks are designed to provide graduated pressure to the legs, which can help to improve blood flow and reduce swelling and fatigue in the feet and legs. Compression socks are especially popular among athletes who engage in high-intensity activities, such as running or cycling, as they can help to improve performance and speed up recovery time.

    They are also popular among people who stand or sit for long periods, such as nurses, flight attendants, and office workers, as they can help to prevent swelling and discomfort in the legs and feet. Compression socks come in a variety of styles, materials, and compression levels, and can be worn for different purposes. For example, athletes may wear compression socks during training or competition, while travellers may wear them during long flights to prevent swelling. The current market trend is focused on launching socks that can track infants' temperature, movement, and location.

    Millennials, who are accustomed to monitoring every aspect of their daily routine through apps and wearable devices, are the generation leading this trend. As a result, today's parents, particularly those belonging to the Millennial generation, are increasingly embracing smart baby technology in their everyday lives. The introduction of smart technology for babies has opened up an entire network of connected technology that allows parents to monitor every activity of their children. This includes products such as feeding bottles, pacifiers, cribs, prams, and clothes that can provide feedback.

    These products are designed to ease the stress of new parents and automate some of the parenting processes entirely, moving many tasks from intuition-based to fully automated. This innovation of smart technology in baby care is expected to lead to a steady growth in the market.

    The global socks market is poised for growth as consumer preferences shift towards sustainable materials and innovative designs, reflecting a broader trend in the textile industry towards eco-consciousness and functionality.

    U.S. Department of Commerce

    Socks Market Drivers

    Market Growth Projections

    The Global Socks Market Industry is poised for substantial growth, with projections indicating a market size of 14.0 USD Billion in 2024 and an anticipated increase to 27.5 USD Billion by 2035. This growth trajectory suggests a robust demand for socks across various segments, driven by factors such as changing consumer preferences, technological advancements, and the rise of e-commerce. The market is likely to experience a compound annual growth rate of 6.36% from 2025 to 2035, reflecting the dynamic nature of consumer behavior and the industry's ability to adapt to emerging trends.

    Fashion Trends and Customization

    The influence of fashion trends and customization plays a pivotal role in shaping the Global Socks Market Industry. As socks transition from mere functional items to fashion statements, consumers are increasingly drawn to unique designs, patterns, and colors. This trend is particularly pronounced among younger demographics who seek personalized products that reflect their individual style. Brands that offer customizable options or collaborate with designers may capture a larger market share. The growing emphasis on self-expression through fashion is likely to drive demand, contributing to the projected market growth to 27.5 USD Billion by 2035.

    Growth of E-commerce and Online Retail

    The expansion of e-commerce platforms significantly influences the Global Socks Market Industry. With the increasing penetration of the internet and mobile devices, consumers are more inclined to purchase socks online. This shift is supported by the convenience of online shopping, coupled with a wider variety of options available to consumers. In 2024, the market is expected to benefit from this trend, as online sales channels continue to grow. Retailers that optimize their online presence and offer personalized shopping experiences may see enhanced customer engagement and loyalty, further propelling market growth.

    Sustainability and Eco-friendly Products

    Sustainability emerges as a critical driver within the Global Socks Market Industry. Consumers are increasingly aware of environmental issues and are seeking eco-friendly sock options made from organic or recycled materials. This shift towards sustainable products is prompting brands to innovate and adopt greener manufacturing processes. As a result, the market is likely to witness a rise in the availability of sustainable sock lines, appealing to environmentally conscious consumers. This trend not only enhances brand reputation but also aligns with the growing demand for responsible consumption, potentially contributing to the market's growth trajectory.

    Rising Demand for Comfort and Functionality

    The Global Socks Market Industry experiences a notable increase in demand for comfort and functionality. Consumers are increasingly prioritizing socks that offer enhanced comfort, moisture-wicking properties, and support for various activities. This trend is particularly evident in the athletic and outdoor segments, where performance socks are gaining traction. As a result, the market is projected to reach 14.0 USD Billion in 2024, driven by innovations in fabric technology and design. Brands that focus on ergonomic features and breathable materials are likely to capture a larger share of the market, appealing to health-conscious consumers seeking both style and performance.

    Technological Advancements in Manufacturing

    Technological advancements in manufacturing processes significantly impact the Global Socks Market Industry. Innovations such as seamless knitting technology and automated production lines enhance efficiency and product quality. These advancements allow manufacturers to produce high-performance socks with improved durability and comfort. As the industry embraces these technologies, it is expected to streamline operations and reduce costs, ultimately benefiting consumers through better products at competitive prices. The ongoing evolution in manufacturing techniques may play a crucial role in sustaining the market's growth, particularly as it approaches a CAGR of 6.36% from 2025 to 2035.

    Market Segment Insights

    Socks Product Type of Cover Insights

    The Socks Market segmentation, based on the product type, includes Athletic Socks, Specialty Socks, Trouser Socks, Casual Socks, Multiple Toe Socks, and Others. The casual socks segment held the majority share in 2022 contributing concerning the Socks Market revenue. The global casual socks market is expected to grow in the coming years, driven by factors such as increasing disposable income, changing fashion trends, and rising e-commerce sales. The demand for eco-friendly and sustainable casual socks is also on the rise, with consumers becoming more aware of the environmental impact of their purchases.

    As a result, many brands are incorporating recycled materials and sustainable production methods into their sock manufacturing processes. The ease with which these products can be incorporated into any outfit is expected to remain a positive factor for the industry. Furthermore, due to their comfort and ease of availability through both offline and online channels, a big number of consumers utilize casual socks made of polyester and nylon. Mustang Socks & Accessories, Goodfellow & Co, Sock Talk, and Kane Socks Company are some of the most popular casual sock’s brands.

    Figure 2: Socks Market, by Product Type, 2022 & 2030 (USD million)

    Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

    Socks Material Insights

    The Socks Market material data has been bifurcated by Polyester, Cotton, Wool, and Nylon. Cotton is a natural fiber free from chemical additives, which makes it biodegradable as well as safe for the environment, thus it has a high demand in the global industry. Cotton socks are soft for the feet and provide extra comfort than other types of materials. Moreover, cotton socks are a good choice for individuals with sensitive skin as it does not have harmful chemicals. Cotton socks are a popular type of sock that is made from cotton fibers.

    They are soft, comfortable, and breathable, making them a popular choice for everyday wear. The market for cotton socks is quite large, with a variety of brands, styles, and colors available to consumers. Cotton socks are available in different lengths, including ankle, crew, and knee-high, and can be found in a range of colors and designs to suit different tastes. Some of the popular brands that offer cotton socks include Hanes, Fruit of the Loom, and Gold Toe. One of the primary benefits of cotton socks is their breathability.

    The natural fibers in cotton allow air to circulate, preventing the build-up of moisture and sweat, which can help prevent odours and bacterial growth. This has further broadened the growth opportunity for the Socks industry.

    Figure 2: Socks Market, by Material, 2022 & 2030 (USD million)

    Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

    Socks End User Insights

    Based on end user, the global Socks industry has been segmented into men, women, and children. Patchy and studded products are gradually gaining popularity among men's clothing. Men's acceptance of the products as accessories to casual and business wear is expected to drive growth in this market. Furthermore, an increase in the quantity of social videos on YouTube and Google+ that offer grooming tips is likely to encourage consumers to spend money on high-quality shoe accessories like socks. Around 80% men wear socks every day.

    Extensive usage of socks by men and improving fashion trend men’s segment will be witnessing steady growth at a considerable rate. Some key trends in the men's socks market include the increasing demand for premium and luxury socks, the popularity of athletic and performance socks, and the use of advanced materials such as merino wool, bamboo, and moisture-wicking fabrics.

    Socks

    By Region, the study segments the market into North America, Europe, Asia-Pacific and the Rest of the World. The Asia-Pacific region has become a significant player in the Socks Market. Asia Pacific region is expected to hold the major share of the Socks Market owing to a large number of socks brands such as in various countries such as Tosside, Asics Corporation, Jockey, and many others. Also, developing countries such as China and India hold a large amount of footwear production.

    Rising disposable incomes, a rapidly growing retail industry, an increasing shift toward sports and athletic activities, and the growing importance of maintaining formal attire in corporate office settings in countries such as China, Bangladesh, Pakistan, and India are expected to have a positive impact on market growth in APAC.

    In APAC, an increasing number of professional sports cricket leagues, such as the Indian Premier League (IPL) in India and the Big Bash League in Australia, is expected to open up new opportunities for regional and international cricket players and other sportspersons to spend more on premium sports accessories, such as shoes and socks. This will drive the growth of the regional market during the forecast period.  Further, the major countries studied are U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, and Australia.

    Figure 3: SOCKS MARKET SHARE BY REGION 2021 (%)

    Get more detailed insights about Socks Market Research Report—Global Forecast till 2030

    Key Companies in the Socks Market market include

    Industry Developments

    May 2022: Adidas AG announced the long-term partnership with Foot Locker Inc., this partnership has been made to broaden the company’s selection of footwear and apparel for the sport and sneaker communities.

    June 11, 2024: With a fresh 2024 reissue of the original Speedcat, PUMA is vying for first place. Originally designed for the fastest sport on the planet, the PUMA Speedcat has left a legendary mark on the F1TM world. PUMA is now reintroducing the sneaker that has been worn by Grand Prix winners.

    June 5, 2024: PUMA and Noah continue their partnership, honoring the unwavering desire for sportsmanship and the individual victories that define great athletes. The partnership is inspired by the idea that style is an extension of winning spirit.

    Future Outlook

    Socks Market Future Outlook

    The Global Socks Market is projected to grow at a 6.36% CAGR from 2024 to 2035, driven by rising consumer demand for comfort, sustainability, and innovative designs.

    New opportunities lie in:

    • Develop eco-friendly sock lines to capture the growing sustainability market.
    • Leverage e-commerce platforms for direct-to-consumer sales expansion.
    • Invest in smart socks technology to enhance user experience and functionality.

    By 2035, the market is expected to achieve substantial growth, reflecting evolving consumer preferences and technological advancements.

    Market Segmentation

    Regional Outlook

    • US
    • Canada

    Socks End User Outlook

    • Men
    • Women
    • Children

    Socks Material Outlook

    • Polyester
    • Cotton
    • Wool
    • Nylon

    Socks Regional Outlook

    • US
    • Canada

    Socks Distribution Channel Outlook

    • Supermarkets & Hypermarkets
    • Convenience Stores
    • Specialty Stores
    • Online

    Socks Product Type of Cover Outlook

    • Athletic Socks
    • Specialty Socks
    • Trousers Socks
    • Casual Socks
    • Multiple Toe Socks
    • Other Socks

    Report Scope

    Report Attribute/Metric Details
    Market Size 2022 USD 12,800.27 million
    Market Size 2023 USD 13,386.54 million
    Market Size 2030 USD 20,498.82 million
    Compound Annual Growth Rate (CAGR) 6.06% (2022-2030)
    Base Year 2022
    Forecast Period 2023-2030
    Historical Data 2019 & 2021
    Forecast Units Value (USD Billion) and Volume (Billion Sq. Meter)
    Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    Segments Covered Product Type, Material, End User, Distribution Channel, and Region
    Geographies Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
    Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Mexico, GCC Countries and South Africa.
    Key Companies Profiled Nike Inc., Puma S.E., Adidas A.G, Asics Corporation, Renfro Corporation, THORLO, Inc, Hanesbrands Inc, Balega, Drymax Technologies Inc., Under Armour, Inc and many more
    Key Market Opportunities Use of functional fabrics, Growth of sustainability in socks
    Key Market Dynamics Growing population of white-collar working professionals, Increasing number of socks brands with growing retail stores and launch of attractive patterns and prints drives socks market

    Market Highlights

    Author
    Snehal Singh
    Assistant Manager - Research

    High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. By implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in Packaging, Construction, and Equipment domains. She handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.

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    FAQs

    How much is the Socks market worth?

    Socks Market is pegged at USD 20,498.82 million as of 2030.

    How Big is the U.S Socks market?

    US Socks market is poised to grow at 81% market share during 2022.

    What is the growth rate of the Socks market?

    Socks Market is poised to grow at 6.06% CAGR during 2022-2030.

    Which region held the largest market share in the Socks market?

    Asia-Pacific region held the largest market share in the Socks Market and market share of 36% in 2022.

    Who are the key players in the Socks market?

    Nike Inc., Puma S.E., Adidas A.G, Asics Corporation, Renfro Corporation, THORLO, Inc, Hanesbrands Inc, Balega, Drymax Technologies Inc., Under Armour, Inc and many more are some of the vital players operating in the Socks market.

    Which product type led the Socks market?

    Usage of casual socks is poised to drive the Socks market, which is poised to grow at market share 35.9 % during 2022-2030

    Which material had the largest market share in the Socks market?

    Cotton is poised to hold an upper hand when it comes to sales of Socks across diverse geographies.

    Socks Market Research Report—Global Forecast till 2030 Infographic
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