Socks Market Research Report—Global Forecast till 2030

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

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

Global Socks Market Overview

Socks Market Size was valued at USD 12,800.27 million in 2022. The Socks Market Industry is projected to grow from USD 13,386.54 million in 2023 to USD 20,498.82 million by 2030, exhibiting a compound annual growth rate (CAGR) of 6.06 % during the forecast period (2023 - 2030). The key factors driving the, increasing number of socks brands with growing retail stores and launch of attractive patterns and prints are some of the vital factors contributing to its market growth.

Socks Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

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.

Socks 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)

Socks Market, by Product Type, 2022 & 2030

Source: Secondary Research, Primary Research, MRFR 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)

Socks Market, by Material, 2022 & 2030

Source: Secondary Research, Primary Research, MRFR 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 Regional Market Insights

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.



Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The Europe Socks market is second of the largest regions in the Socks Market. The market in Europe accounted for the largest share of the overall revenue in 2021 and is estimated to remain dominant, in terms of revenue share, throughout the forecast period. Rapid industrial growth along with rising disposable income levels fueled by economic growth is projected to boost the market growth in the Europe region. Additionally, during the past few years, the Europe regional market has been significantly impacted by new fashion trends and lifestyle changes, such as an increase in the use of footwear. Additionally, a number of the businesses in this area produce personalized socks to satisfy the needs of athletes. During the colder months, there is usually an increase in demand for socks, especially thick and warm ones. On the other hand, in the warmer months, there may be a higher demand for lighter and more breathable socks. Fashion trends can also influence the demand for socks, as certain colors, patterns, and styles may become more popular. Additionally, people's personal preferences and lifestyles can also impact their choice of socks. For example, athletes may require specialized socks for their particular sport, while office workers may prefer dress socks that complement their professional attire.

Socks Key Players & Market Competitive Landscape

Major market participants are spending a lot of money on R&D to increase the range of their products, which will drive the Socks market's future expansion. The market is highly fragmented with all the players competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront market growth. The vendors compete based on cost, product quality, reliability, and service. It is crucial for the vendors to provide cost-efficient and high-quality socks, in order to survive and succeed in an intensely competitive market environment. There are many small and medium-sized firms in the market, which has a highly fragmented structure. The majority of businesses have substantial domestic market presence. Due to limited product diversification, there is intense competition among the companies; yet, they compete on the basis of the prices of the products and services they provide. Several companies have been focusing on technological advancements such as sustainable materials and research & development to capture market share.

One of the primary business strategies adopted by manufacturers in the global sock industry to benefit clients and expand the Socks market sector is to manufacture locally to reduce operating costs.

Key Companies in the Socks market include

  • Nike Inc (US)

  • Puma S.E. (Germany)

  • Adidas A.G (Germany)

  • Asics Corporation (Japan)

  • Renfro Corporation (US)

  • THORLO, Inc (US)

  • Hanesbrands Inc (US)

  • Balega (US)

  • Drymax Technologies Inc. (US)

  • Under Armour, Inc (US)

Socks Industry: Market 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.

January 2020: Renewed socks brand, Happy Socks, newly partnered with style icon Jonny Ramone for an active new collection. Product innovation is anticipated to remain a serious success factor in the industry.

June 2021: Renfo, a leading manufacturer and marketer of socks, announced the ownership of private holding company Renco Group inc. This acquisition has been made keeping in mind the future growth of the Renfo brand.

Socks Market Segmentation

Socks Product Type of Cover Outlook

  • Athletic Socks

  • Specialty Socks

  • Trousers Socks

  • Casual Socks

  • Multiple Toe Socks

  • Other Socks

Socks Material Outlook

  • Polyester

  • Cotton

  • Wool

  • Nylon

Socks End User Outlook

  • Men

  • Women

  • Children

Socks Distribution Channel Outlook

  • Supermarkets & Hypermarkets

  • Convenience Stores

  • Specialty Stores

  • Online

Socks Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Turkey

    • Belarus

    • Russia

    • Azerbaijan

    • Moldova

    • Ukraine

    • Rest of Europe

  • Asia-Pacific

    • Armenia

    • Kazakhstan

    • Kyrgyzstan

    • Tajikistan

    • Uzbekistan

    • Turkmenistan

    • Rest of Asia-Pacific

  • Latin America

    • Mexico

    • Brazil

    • Colombia

    • Rest of Latin America

  • Middle East & Africa

    • GCC Countries

    • South Africa

    • Rest of Middle East & Africa

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

Frequently Asked Questions (FAQ) :

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

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

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

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

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.

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

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

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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