ID: MRFR/CR/7017-HCR | 111 Pages | Author: Snehal Singh | May 2023
Waterproof Socks Market is projected to reach USD 7,857.6 Million by 2027 at a CAGR of 7.10% from 2020 to 2027. Waterproof socks have a membrane that makes them water-resistant. As the socks are made up of three layers, these socks are made of three layers that prevent abrasion and provide insulation and comfort. The membrane helps water penetration and offers breathability that allows vapor to pass through. Due to these features, the Waterproof Socks Market notices higher demand among the customers. The manufacturers prefer materials nylon, polypropylene, wool and bamboo rayon for better quality waterproof socks. The rising demand for multifunctional apparel and accessories waterproof and breathable for outdoor activities such as adventure sports, hiking, biking, tracking is driving the Waterproof Socks Market Growth.
The key players are advancing the features to provide better products to the customers. The material quality is checked and assured by the manufacturers. The competition between the industrial players is high as they adopt various marketing strategies such as partnerships, product launches, expansions, and acquisitions; these implementations upgrade the market's position and elevate its demand among the customers. The players are increasing their customer base by targeting online platforms. Several brands dominate the market, and their competition lets the Market Size propel higher.
The increased demand for waterproof socks in adventurous sports such as cycling, running, hiking, snow sports, mountain biking, and river rafting is chiefly driving the market. Due to its consistent demand, the manufacturers are developing innovative products to gain popularity among the customers. The demand for waterproof socks in the healthcare sector due to their anti-microbial properties greatly enhances the market's growth. The product is proven best suitable for patients in hospitals to prevent infections and for sportsperson and in outer activities. These factors are significantly driving the Market Trends.
During the pandemic period, the Waterproof Socks Market Outlook noticed mixed impacts. Due to the strict lockdown rules, the supply of raw materials was delayed, affecting the manufacturing process. The production process was delayed, and it disrupted the supply chain process. The product availability to the customers was halted for some time. The key players checked these factors, and the strategies were implemented to overcome the issues. In the future pandemic period, the market noticed a sheer demand when concern was increased in the healthcare to provide safety products to the patients to ensure that they are prevented from infections. As waterproof socks are antibacterial, the demand for the product increased among the customers. Hence, the growth rate of the Waterproof Socks Market was normalized. Hence, the market is expected to register a healthy CAGR during the forecast period.
The major driving factors of the Waterproof Socks Market are accelerating the demand of the market. The customers' rise in demand for multifunctional socks is highly driving the market. The rise in demand for multifunctional apparel and accessories is another chief driver.
The Waterproof Socks Market is facing challenges that affect the market's growth speed. The COVID-19 was a challenging period; the key players' marketing strategies helped the market overcome the issues.
There are many rising opportunities fueling up the market to reach its significant share value. The growth and development of organized retail sectors and the player's innovation based on features set open opportunities for the market.
The market restraints are hampering the growth of the Waterproof Socks Market. Factors such as limitation in market penetration in different regions and expensive costs compared to conventional socks show a negative impact on the market.
Cumulative Evaluation Of The Market
The cumulative evaluation of the Waterproof Socks Market shows the complete overview of the market's growth in recent years. The chief existing factors such as the drivers, opportunities, challenges, and restraints are showing their effects. The market is both positively and negatively impacted by the factors. The pandemic has shown moderate impact on the market, but later the growth was recovered with planned strategies. The involvement of key players is accelerating the market value to reach a strong USD value. Hence, the Market Value is estimated to reach a good CAGR value in the evaluation period.
The Waterproof Socks Market is segregated into various segments such as material, end-users and distribution channels.
The material segment of the market is divided into Nylon, polypropylene, wool, and bamboo rayon. Nylon is considered the largest segment, and it occupies the maximum market share. The share value of the market has been consistent in the past years. The Nylon features such as high elongation, temperature resistance, and luster; therefore, the manufacturers are highly preferring for making waterproof socks.
Polypropylene has high flexible strength due to its semi-crystalline nature. It also offers good fatigue resistance. Due to these factors, polypropylene is preferred for waterproof socks. Wool is naturally wrinkle-resistant; it also keeps the feet dry, leading to the widespread use of waterproof woolen socks for tracking and hiking. Bamboo Rayon socks are considered hypoallergenic, antibacterial, and odor-free. They have popular high sweat absorbency properties; hence, they manufacture waterproof socks.
The End-users segment of the market is divided into adults and children. The adult segment is considered the largest segment, and it is excepted to register the highest CAGR.
The increased number of adults participating in adventurous sports in North America and Europe drives the Waterproof Socks Market. The children segment is also accounting for a significant share due to the rise in interest in sports such as bicycling and skating
The distribution channel segment of the Waterproof Socks Market is divided into store-based and non-store-based. Between these both, the store-based segment is capturing the largest market share of the market because consumers prefer to access products physically to know about their quality. The non-store-based segment is expecting the highest CAGR rate during the forecast period.
According to the regional report, the Waterproof Socks Market is distributed into prominent regions such as North America, Asia Pacific, Europe and the rest of the world. North America occupies the maximum share of the Market Share due to its increasing demand for sportswear. The market of the European region is propelling due to the rising popularity of adventure sports in major countries such as Germany, Italy and the UK.
The Asia-Pacific market is occupying the significant share value of the market due to the introduction of innovative products by the industrial players, which is driving the regional market of the region.
The rest of the world is noticing steady growth due to higher demand for multifunctional apparel and increased disposable incomes among consumers. All these regions will propel the growth of the global Waterproof Socks Market.
The key players of the Market Analysis are responsibly driving the market to achieve its goal. High-quality materials are implemented for manufacturing the products, accelerating the market's demand. The market players are checking the issues affecting the growth rate and helping the market reach a significant CAGR value. The major industrial players of the Waterproof Socks Market are;
Recent Market Developments
The report of the Waterproof Socks Market has shown a significant detail of the growth factors. The dynamic factor's effect was also mentioned. The pandemic analysis report has given a clear view of the effect and recovery of the market. The segmentation report stated the different segments and their types. The geographical report noted the continents covered by the market. The key player's strategies were studied, and their developments were discussed. The Market Forecast is expected to reach a good share value in the forecast period.
Key Industrial Segments
By Distribution Channel
Waterproof Socks Market is projected to grow at a 7.10% CAGR between 2020-2027.
Europe is expected to dominate the Waterproof Socks Market.
Waterproof Socks Market is predicted to touch USD 7,857.6 million by 2027.
Adults segment will lead the Waterproof Socks Market.
Low market penetration and high cost may limit the Waterproof Socks Market growth.
Key Questions Answered
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