Global Socks Market to Reach a Value of USD 87.93 Billion by 2032, Aided by the Rising Demand from the Sports Industry

The global market of socks is significantly aided by the increasing population, rising disposable incomes, growing retail industry, and an increasing shift towards sports and athletic activities. The increasing awareness in consumers regarding foot-related diseases is also aiding the growth of the socks industry. The market is further expected to grow in the region which are developing, owing to the increasing corporate population, creating an opportunity for the growth of the formal socks segment.

Companies like Adidas A.G (ADDYY: OTC) and NIKE Inc. (NYSE: NKE) have facilitated in maintaining the supply chains across the globe for socks. The market is also expected to be propelled by the rising demand for sustainable products. Thus, in 2020, Adidas announced that almost 60% of its products shall be made with sustainable materials by 2021. This is expected to boost the sales across all segments of the company, including socks and catalyse the overall growth of the industry.

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Market Breakup by Product, Material, Demographics, Distribution Channel, and Region:

• On the basis of product, the market is segmented into casual socks, formal socks, athletic socks, and speciality socks, among others.

• By material, the market is divided into nylon, cotton, polyester, wool, and waterproof breathable membrane, among others.

• The market is segmented on the basis of demographics into men, women, and kids.

• Based on distribution channels, the market is divided into hypermarket and supermarket, convenience stores, and online, among others.

• Region-wise, the global market for socks can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The market is aided by the significant demand for socks from the sports industry.

• The rapid urbanisation and corporate culture, along with increasing disposable incomes, are also facilitating the market growth.

• The growing penetration of major players into emerging countries is also expected to further the market growth.

• The growing enthusiasm among consumers for health and fitness activities is also aiding the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for socks for the periods (2018-2023) and (2024-2032). 

• The report also offers historical (2018-2023) and forecast (2024-2032) markets for the products, materials, demographics, distribution channels, and major regions of socks.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global socks market include The Sock Factory, Nester Hosiery, Golden Lady Company SpA, Nike Inc, Hanesbrands Inc., Under Armour®, Inc., PUMA SE, Strumpfwerk Lindner GmbH, Exceptio Ltd, and HJ Hall Socks, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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