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The Socks Market size is estimated to grow by USD 16.45 billion between 2023 and 2028 accelerating at a CAGR of 5.82%. The demand for professional socks, footcare socks, and an increase in the sales of sports shoes are notably driving the market growth. Additionally, the demand for the market is growing because the socks industry entering the healthcare industry. Socks help in the relaxation of muscles, eliminate odor-causing bacteria, improve comfort and reduce swelling, and keep feet warm to improve blood circulation. Socks are used by diabetic patients to prevent injury and reduce sensitivity and irritation.
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The revenue of the offline distribution channel primarily stems from the sales of products through hypermarkets, supermarkets, and franchised stores. To increase sales through offline channels, players are expanding their product portfolios in the global, regional, and local markets.
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The offline segment was valued at USD 31.32 billion in 2018 and continued to grow until 2022. The offlined distribution channel was the major contributor to the revenue of the global market in 2022 and is expected to remain a preferred channel during the forecast period. The segment is expected to witness a growth rate of 5.38% in 2023 and register a CAGR of 5.50% during the forecast period. companies are expected to resort to an online-to-offline (O2O) business strategy to enhance sales from the online distribution channel and promote the digital experience. Hence, such factors are fuelling the growth of this segment during the forecast period.
In 2022, the plain-knitted product segment dominated the global market and accounted for the highest revenue share of more than 56.24%. The segment is anticipated to continue growing at the fastest rate, holding onto its top spot for the duration of the forecast. Many knitted fabrics that consumers wear today are made using plain knitting or a combination of plain and a purl stitch, which is a very popular knitting technique. As they are very elastic, stretchable, and comfortable to wear, these kinds are widely produced globally. Additionally, the plain-knitted socks are expected to have a growth rate of 5.37% in 2022 and the fastest growth at a CAGR of 5.94% between 2022 and 2027. These factors are expected to drive the market growth of the global market during the forecast period.
The rib-knitted product segment is anticipated to have the second-highest revenue share, with a forecasted growth of 6.27% CAGR. The edges of rib-knit products easily curl when pulled, they are lightweight, and they are not stretchy. The production of children's clothing utilizes rib knits extensively. Around 2.01 billion children aged 0 to 14 lived on earth in 2021, according to the World Bank. Additionally, the rib-knitted segment is expected to witness a growth rate of 4.47% in 2023. Hence, owing to these factors, the rib-knitted product segment is expected to register steady growth during the forecast period.
APAC is estimated to contribute 31% to the growth of the global market share during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The APAC market is expected to grow due to rising disposable incomes, a growing retail industry, a shift toward sports and athletic activities, and the importance of formal attire in corporate offices. The region's professional cricket leagues, including the Indian Premier League and Big Bash League, will create new opportunities for athletes to spend on premium sports accessories, driving the market growth during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market industry.
Nike Inc. - The company offers socks such as training ankle socks and training crew socks. The footwear segment offers footwear for football, basketball, running, swimming, tennis, driving, cricket, and other sports.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is evolving rapidly, driven by innovations in synthetic fibers like nylon, polyester, acrylic, and spandex. Knee-high socks and athletic performance socks are gaining popularity among sports players and fitness enthusiasts. The growth of the health and fitness industry has boosted demand for fitness and gym products, including athletic shoes and sports shoes and accessories. Climate change and pollution concerns are influencing the market, with a shift towards sustainable materials. Doctors emphasize the importance of good quality socks to prevent skin rashes and redness. Major socks brands like Champion and Hanes are leading the market with advanced socks technology. The sports industry and general people are increasingly seeking durable and performance-oriented socks to enhance their activities. Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Factors such as growing consumer interest in sports and athletics, rising disposable income, and expanding retail sectors are driving market expansion. Emerging countries, with a rising number of corporate offices, are expected to experience stronger market growth for the formal socks industry during the forecast period.
Moreover, the demand is also expected to increase regionally due to the requirement for formal attire in schools, conveying maturity, sharpness, and discipline. As the student population and corporate culture grow, the market is anticipated to experience growth during the forecast period.
Millennial parents are adopting smart baby technology, turning nurseries into networked data centers. With a greater focus on work, many parents struggle with work-life balance, making it challenging for those with small children. Millennials, being accustomed to tracking their daily routines through apps and wearable devices, are now using connected technology to monitor every activity of their children.
Moreover, smart technology for babies provides a network of connected products to track vital parameters, feeding, pacifiers, cribs, prams, and clothes, alleviating stress among new parents and automating some parenting tasks. For instance, in August 2021, Owlet, a US-based company, recently launched Smart Sock Plus, monitoring a child's vital parameters up to age 5, including heart rate, blood oxygen levels, and sleep trends. Hence, such factors are driving the market during the forecast period.
Changing trade policies and tariffs due to shifting ruling and political parties in major markets are negatively impacting apparel companies, including those in the sock market. Established companies headquartered in China are particularly vulnerable to changes in trade regulations and policies, which can negatively affect their financial conditions and operational results.
Moreover, with most international companies having production plants in developing countries such as China, any changes in import tariffs, particularly in the US, may lead to alterations in business operations and increased production costs. Such factors are expected to hinder the growth of the sock market during the forecast period.
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The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
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The market is evolving with the rising demand for specialized socks like Sports socks and Diabetic socks due to the increasing prevalence of foot disorders and diabetes. The U.S. socks market is witnessing significant growth, driven by the need for Healthcare professionals and Research papers highlighting the importance of foot care. Brands like Podolite are innovating with features to prevent Foot ulcers and Infections that can lead to Amputation.
Innovations in materials and design are evident, with Compression socks and Waterproof socks catering to specific needs. Shoe accessories and Performance-oriented apparel are also gaining traction, especially among Smartphone users and those interested in Adventure sports tourism. The market is also witnessing a shift towards sustainable practices, with consumers demanding Environmentally friendly products. The market landscape depends on the Trekking, Cycling, Rainy season, Socks brands, Champion, Hanes, Socks technology, Durability of socks, Slippers, Sandals, Hills wearables, Materials in socks, Skin rashes, Redness, Product type, Raw material, Nylon socks, Polyester socks, Acrylic, Spandex, Male, Female, Footwear production. Market concentration is high, with key players focusing on Product quality, Safety, and Fair business practices. M&A activities are shaping the market landscape, enhancing Market reach and Distribution channels. As consumer preferences evolve based on Age groups, Lifestyles, and Specific activity needs, manufacturers are responding with a variety of offerings, including Casual socks, Athletic socks, and Compression sleeves. Overall, the market is adapting to meet the diverse needs of consumers, driven by advancements in materials, design, and a focus on health and performance.
The market is witnessing a surge in demand driven by diverse consumer preferences and emerging trends in health, fitness, and eco-consciousness. With endorsements from athletic celebrities and increased participation in gym training and outdoor sports activities, there's a growing need for performance-enhancing features in socks. Advanced materials like olefin, polypropylene, and polyamide offer moisture-wicking and antibacterial properties, catering to health-conscious consumers and adventurers alike. The market encompasses a wide range of options, from traditional cotton and wool socks to innovative grip socks and functional apparel. Additionally, gel socks, known for their moisturizing and therapeutic benefits, are gaining popularity among consumers seeking both comfort and foot care solutions. The rise of e-commerce platforms and social media influence has further expanded market reach, making specialized socks, including eco-friendly and sustainable varieties, accessible to a broader urban and professional audience.
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Market Scope |
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Report Coverage |
Details |
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Page number |
169 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.82% |
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Market growth 2024-2028 |
USD 16.45 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.41 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 31% |
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Key countries |
China, Turkey, US, UK, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Adidas AG, ASICS Corp., Drew Brady and Co Ltd., Drymax Technologies Inc., FALKE KGaA, Glen Clyde Co., Ltd., Hanesbrands Inc., Implus Footcare LLC, Jockey International Inc., John Smedley Ltd., Nike Inc., OEJBRO ENGROS AB, Pantherella International Group Ltd., Patagonia Inc., PUMA SE, Ralph Lauren Corp., Skechers USA Inc., Swedish Socks AB, Thorlos, and Under Armour Inc. |
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Market dynamics |
Parent market analysis, Market forecasting, market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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