MarketResearch.biz announces publication of its most recently generated research report titled, “Global Socks Market by Product Type (Mid-Calf Socks, Ankle Length Socks, Knee Length Socks, Specialty Socks), By Material Type (Nylon, Cotton, Polyester, Wool), By End-User (Men, Women, Kids), By Distribution Channel (Wholesale, Supermarkets & Hypermarkets, Online Retail, Other Distribution Channels), and Region – Global Forecast between 2021 and 2030.”, which offers a holistic view of the global socks market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2021–2025) is projected to be over US$ 212,232.7 Mn, which is estimated to increase moderately over the latter part of the five-year forecast period.
A sock is a piece of clothing worn on the feet, usually covering part of the ankle or calf. Certain types of shoes or boots are usually worn on socks. Socks can protect the feet from dust, germs, blisters, fungus and keep the feet in a good space. Socks are available in various materials, lengths, shapes, sizes, colors, patterns, and styles. In ancient times, socks were made of leather or matted animal hair.
Global Socks Market: Market Dynamics
Increasing demand for socks as an essential workwear accessory among men, children, and women is expected to drive the target market’s growth. In the last few years, the demand for socks has increased owing to its attractiveness and acceptance of smart business casuals to show professionalism in corporate offices and schools. This is one of the major factors expected to propel the demand for socks market subsequently. Increasing population, rapid urbanization, increased income levels, changing consumer lifestyle, growing organized retail sector, and increasing spending by individuals on fashion wear lead to increased disposable income. These are some of the supporting factors expected to fuel the demand for socks in the coming years.
An outbreak of the COVID-19 pandemic in early 2020 has brought a negative impact on almost every industry. The subsequent global lockdown has severely impacted economies across the world. On the other hand, the government of several countries’ trade restrictions also affected the supply of raw materials to clothing and other textile industries. This had led to price fluctuations and sudden shortages of raw materials, as well as end-products.
One of the main factors for the increase in socks market share is the ongoing trend of customized socks, designer socks, and custom printed socks. Socks manufacturers are highlighting more on custom socks to meet consumer needs. The increasing proliferation of socks in various materials such as cotton, wool, etc. with imprinted or embossed logos of brands at economical cost, especially in the apparel industry, is expected to further fuel the market growth.
Global Socks Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global socks market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global Socks market is estimated to expand at a moderate CAGR of 6.1% during the forecast period.
Global Socks Market: Segmental Snapshot
The market report has been segmented on the basis of product type, material type, end-user, distribution channel, and region. The product type segment include mid-calf socks, ankle length socks, knee length socks, specialty socks. The material type segment include nylon, cotton, polyester, wool. The end-user segment include men, women, kids. The distribution channel segment include wholesale, supermarkets & hypermarkets, online retail, other distribution channels. The region covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By product type: The ankle length socks segment is expected to register a CAGR of over 6.9%, thereby accounting for highest revenue share among the product type segments.
By material type: The cotton segment is expected to register a CAGR of over 6.8% over the forecast period, thereby accounting for highest revenue share among the material type segments.
By end-user: The men segment is expected to register a CAGR of over 6.4%, thereby accounting for highest revenue share among the end-users segments.
By distribution channel: The supermarkets & hypermarkets segment is expected to register a CAGR of over 5.8% over the forecast period, thereby accounting for highest revenue share among the distribution channel segments.
By region: The market in APAC accounted for highest revenue share in the global socks market in 2020, and is estimated to register a CAGR of over 6.5% between 2020 and 2030.
Global Socks Market: Competitive Analysis
The research report on the global socks market includes profiles of major companies such as NIKE Inc., Adidas AG, Hanesbrands Inc, PUMA SE, Under Armor, Inc., ASICS Corp, Renfro Corporation, Implus Footcare LLC, Thorlo Inc., Drymax Technologies Inc., VOXXLIFE, among others.
The Global Socks Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2021–2030 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global Socks market for 2020–2030.
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