Socks Market Forecasts to 2030 - Global Analysis By Product Type (Casual Socks, Formal Socks, Specialist Socks, Sports Socks, Thermal Socks and Other Product Types), Socks Type (Ankle socks, Calf-length socks, Crew length socks and Other Socks Types), Raw Material, Distribution Channel, End User and By Geography
According to Stratistics MRC, the Global Socks Market is accounted for $50.11 billion in 2023 and is expected to reach $89.98 billion by 2030 growing at a CAGR of 8.72% during the forecast period. Socks are clothing items made to cover the feet and frequently reach the calf or higher. They are primarily made of materials like spandex, nylon, cotton, and wool. They contribute to style, allow for seasonal adjustments, increase mobility in sports, reduce foot odor, prevent fungal infections, promote blood circulation, extend the life of footwear, and provide targeted compression.
According to the World Bank report, approximately 40.83 percent of women work and the figure is growing considerably in 2018. The increasing number of working-class women worldwide is anticipated to have a positive impact on growth in the segment.
Increasing fashion awareness
Consumers' increasing fashion awareness is a significant factor in the growth of the socks market. Socks are regarded as necessary accessories that complete a person's overall look and sense of fashion. Additionally, with the development of social media and online platforms, style bloggers and fashion influencers are showcasing socks in a wide variety of patterns, hues, and textures, showcasing their adaptability as fashion statements. Additionally, the market is being supported by the new seasonal trends that are influencing not only sock fashions but also clothing trends, causing cyclical increases in demand for specific designs or patterns like cheery summer prints or cozy winter patterns.
High cost of setup
Specialized knitting machines and other tools must be purchased in order to set up a sock manufacturing facility. The price of this equipment varies depending on factors like production capacity and technological advancement. A suitable manufacturing space with the required infrastructure, such as power supply and ventilation, can be expensive to rent or buy up front. Additionally, purchasing quality control measures, such as testing tools and personnel, is necessary to guarantee product quality. Market growth is negatively impacted by such expensive measures.
Growing number of athletes and outdoor enthusiasts
The growing popularity of athletic endeavors, outdoor activities, and physical fitness is a major factor driving the socks market. People are participating in a variety of sports activities, such as cycling, skiing, hiking, and running, which is boosting demand for socks that are made to meet particular performance standards. Additionally, technological innovations like moisture-wicking materials, added padding in high-impact areas, and ventilated zones for improved breathability are frequently found in athletic socks. Additionally, professional sports teams and athletes frequently work with brands to create and promote performance socks, adding legitimacy and drawing consumer interest.
Environmental and governmental issues
The socks industry is under scrutiny for its environmental impact, just like any other textile industry. Concerns about the long-term viability of raw materials and manufacturing techniques may affect consumer preferences and force businesses to adopt more environmentally friendly procedures. Regulations governing product safety, labeling, and quality requirements are also applicable to the sector. It can be expensive and time-consuming to ensure compliance with these regulations.
The global socks market has been significantly impacted by the COVID-19 pandemic as a result of the decline in demand for the product. Sock sales have been significantly impacted because movement has been substantially stopped. Top companies in the sector, however, are upbeat because many are reinventing their product lines and because the majority of them used the lockdown to innovate their production and retail strategies. Over the course of the forecast, this is anticipated to drive the global market.
The casual socks segment is expected to be the largest during the forecast period
The casual socks segment accounted for the largest market share and was predicted to maintain its dominance. Casual socks can be worn in a variety of settings and are comfortable and functional. They typically come in a variety of colors and patterns and are made from a mixture of cotton, wool, or synthetic fibers. Additionally, casual socks are adaptable to different clothing styles because they go with a variety of outfits, like jeans, shorts, and sneakers.
The online segment is expected to have the highest CAGR during the forecast period
The online segment is anticipated to experience the highest CAGR growth during the forecast period. Sales of socks and related products are increasing worldwide, including in China and Japan, due to the expanding use of online retail services. Due to their busy schedules, consumers, especially those in the working class, favor online retail over offline retail. Moreover, due to convenient product selection and door-to-door delivery, the online market is growing.
Region with largest share:
Global sock sales were dominated by North America in the predicted timeframe. A thriving textile industry and a large, affluent consumer base are present in the area. It is anticipated that major industry players like Adidas A.G., Nike Inc., and Puma S.E. will keep a solid footing in the retail and wholesale networks of the United States and Canada, ensuring ongoing product availability to customers. Additionally, some businesses are making custom socks to meet the demands of athletes, which is helping the local socks market expand.
Region with highest CAGR:
Over the course of the forecast period, Asia Pacific is anticipated to experience the highest growth in the global socks market. A large population and a developing middle class in the area contribute to the increased demand for reasonably priced, stylish clothing, including socks. Furthermore, the expansion of the retail industry and the rise of online shopping portals have also contributed to the region's expanding market for socks.
Key players in the market
Some of the key players profiled in the Socks Market include Adidas A.G, Asics Corporation, Balega, Drymax Technologies Inc, Hanesbrands Inc., Implus Footcare LLC, Jockey International Inc., Nike Inc, Puma S.E, Renfro Corporation, Skechers USA, Inc., Thorlo Inc., Under Armour, Inc, VF Corporation and VoxxLife.
In September 2023, Balenciaga has launched the latest iteration of its viral Sock Shoe.Called the 3XL Sock Shoe, the silhouette offers an exaggerated take on the original 2016 model that helped cement Balenciaga creative director Demna’s name in fashion. According to the French luxury fashion house, the new sneaker combines two signature Balenciaga styles – the stretch knit upper of the Speed line and the expansive rubber sole of the 3XL.
In March 2023, Swiftwick launched their MAXUS sock, featuring a high-performance footbed made from REPREVE, a recycled polyester material.
In March 2023, Balenzia Socks, a leading premium sock brand, opened their third store of the year at VR Mall in Surat, India.
Product Types Covered:
• Casual Socks
• Formal Socks
• Specialist Socks
• Sports Socks
• Thermal Socks
• Other Product Types
Socks Types Covered:
• Ankle socks
• Calf-length socks
• Crew length socks
• Knee-high socks
• Over-the-knee socks
• Other Socks Types
Raw Materials Covered:
• Waterproof Breathable Membrane
• Other Raw Materials
Distribution Channels Covered:
• Hypermarkets and supermarkets
• Convenience Stores
• Other Distribution Channels
End Users Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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Table of Contents
1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
3 Market Trend Analysis
3.6 Product Analysis
3.7 End User Analysis
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Socks Market, By Product Type
5.2 Casual Socks
5.3 Formal Socks
5.4 Specialist Socks
5.5 Sports Socks
5.6 Thermal Socks
5.7 Other Product Types
6 Global Socks Market, By Socks Type
6.2 Ankle socks
6.3 Calf-length socks
6.4 Crew length socks
6.5 Knee-high socks
6.6 Over-the-knee socks
6.7 Other Socks Types
7 Global Socks Market, By Raw Material
7.6 Waterproof Breathable Membrane
7.8 Other Raw Materials
8 Global Socks Market, By Distribution Channel
8.2 Hypermarkets and supermarkets
8.3 Convenience Stores
8.5 Other Distribution Channels
9 Global Socks Market, By End User
10 Global Socks Market, By Geography
10.2 North America
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.5 Other Key Strategies
12 Company Profiling
12.1 Adidas A.G
12.2 Asics Corporation
12.4 Drymax Technologies Inc
12.5 Hanesbrands Inc.
12.6 Implus Footcare LLC
12.7 Jockey International Inc.
12.8 Nike Inc
12.9 Puma S.E
12.10 Renfro Corporation
12.11 Skechers USA, Inc.
12.12 Thorlo Inc.
12.13 Under Armour, Inc
12.14 VF Corporation
List of Tables
1 Global Socks Market Outlook, By Region (2021-2030) ($MN)
2 Global Socks Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Socks Market Outlook, By Casual Socks (2021-2030) ($MN)
4 Global Socks Market Outlook, By Formal Socks (2021-2030) ($MN)
5 Global Socks Market Outlook, By Specialist Socks (2021-2030) ($MN)
6 Global Socks Market Outlook, By Sports Socks (2021-2030) ($MN)
7 Global Socks Market Outlook, By Thermal Socks (2021-2030) ($MN)
8 Global Socks Market Outlook, By Other Product Types (2021-2030) ($MN)
9 Global Socks Market Outlook, By Socks Type (2021-2030) ($MN)
10 Global Socks Market Outlook, By Ankle socks (2021-2030) ($MN)
11 Global Socks Market Outlook, By Calf-length socks (2021-2030) ($MN)
12 Global Socks Market Outlook, By Crew length socks (2021-2030) ($MN)
13 Global Socks Market Outlook, By Knee-high socks (2021-2030) ($MN)
14 Global Socks Market Outlook, By Over-the-knee socks (2021-2030) ($MN)
15 Global Socks Market Outlook, By Other Socks Types (2021-2030) ($MN)
16 Global Socks Market Outlook, By Raw Material (2021-2030) ($MN)
17 Global Socks Market Outlook, By Bamboo (2021-2030) ($MN)
18 Global Socks Market Outlook, By Cotton (2021-2030) ($MN)
19 Global Socks Market Outlook, By Nylon (2021-2030) ($MN)
20 Global Socks Market Outlook, By Polyester (2021-2030) ($MN)
21 Global Socks Market Outlook, By Waterproof Breathable Membrane (2021-2030) ($MN)
22 Global Socks Market Outlook, By Wool (2021-2030) ($MN)
23 Global Socks Market Outlook, By Other Raw Materials (2021-2030) ($MN)
24 Global Socks Market Outlook, By Distribution Channel (2021-2030) ($MN)
25 Global Socks Market Outlook, By Hypermarkets and supermarkets (2021-2030) ($MN)
26 Global Socks Market Outlook, By Convenience Stores (2021-2030) ($MN)
27 Global Socks Market Outlook, By Online (2021-2030) ($MN)
28 Global Socks Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
29 Global Socks Market Outlook, By End User (2021-2030) ($MN)
30 Global Socks Market Outlook, By Men (2021-2030) ($MN)
31 Global Socks Market Outlook, By Women (2021-2030) ($MN)
32 Global Socks Market Outlook, By Kids (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
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