Asia Pacific Socks Market Report and Forecast 2024-2032

Asia Pacific Socks Market Size

The Asia Pacific socks market reached approximately USD 22.79 billion in 2023. The market is projected to grow at a CAGR of 6.5% between 2024 and 2032, reaching a value of around USD 40.17 billion by 2032.

Asia Pacific Socks Market Outlook

• The ecommerce market value in the Asia Pacific region is projected to exceed USD$28.9 trillion by the year 2026.

• In 2023, NAIGAI, a company specialising in glove design and manufacturing, introduced high-quality socks aimed at addressing the challenges faced by the elderly, pregnant women, and individuals with disabilities.

• It is anticipated that Asian consumers will represent 50 per cent of the global consumption growth over the next ten years, presenting a consumption growth opportunity valued at $10 trillion.

Asia Pacific Socks Market Growth

Business-to-business e-commerce in the expansive Asia Pacific has seen a steady annual growth rate of 15%, surpassing the global average of 14.5% in gross merchandise value growth each year. The expansion of e-commerce significantly contributes to the increasing demand for consumer products. Online shopping platforms are accessible 24/7, enabling customers to buy products, including socks, at their leisure without being constrained by store operating hours. The convenience of doorstep delivery removes the necessity of visiting physical stores, facilitating regular purchases of socks for consumers.

Japan occupies a significant share of the market due to its population's commitment to fitness and physical activity. According to the 2022 SSF National Sports-Life Survey, 72.9% of individuals in Japan engaged in sports and physical activities at least once during the year. Moreover, 49.1% of the population participated in sports at least twice a week in 2022. Walking is an integral part of Japanese culture, with many individuals covering considerable distances daily, which serves as an excellent form of cardiovascular exercise. In addition, activities such as calisthenics and traditional dance contribute to physical fitness without the need for structured exercise programmes. The increasing involvement in these outdoor and physical activities has led to a growing demand for specialised fitness socks that combine functionality with style.

Asia Pacific Socks Industry Segmentation

“Asia Pacific Socks Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type

• Casual Socks

• Formal Socks

• Athletic Socks

• Speciality Socks

• Others

Market Breakup by Material Type

• Nylon

• Cotton

• Polyester

• Wool

• Others

Market Breakup by Demographics

• Men

• Women

• Kids

Market Breakup by Distribution Channel

• Hypermarkets/Supermarkets

• Convenience Stores

• Online Channels

• Others

Market Breakup by Country

• China

• Japan

• India

• ASEAN

• Australia

• Others

Asia Pacific Socks Market Share

Based on the distribution channel, the market is segmented into hypermarkets/supermarkets, convenience stores, and online channels, among others. Online channels are projected to grow at a CAGR of 11.7% during the forecast period of 2024-2032. Online shopping offers consumers unparalleled convenience, allowing them to browse and purchase a diverse array of sock options from the comfort of their own homes.

Leading Companies in the Asia Pacific Socks Market

Major players are focusing on product innovation and ethical production practices to gain a competitive edge in the market.

• Nike, Inc. 

• Adidas AG 

• Puma SE 

• U.S.Polo Assn.  

• New Balance Athletics, Inc.  

• YONEX Co., Ltd.  

• Li-Ning Studio LLP  

• Under Armour, Inc. 

• Tutuanna Co., Ltd.  

• ZHEJIANG JASAN HOLDING GROUP CO., LTD.

• Others

Key Highlights of the Report