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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Socks Market Outlook
The global socks market size reached USD 52.79 billion in 2023. The market is further expected to grow at a CAGR of 5.8% in the forecast period of 2024-2032 to reach a value of USD 87.93 billion by 2032.
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Rising Demand for Specialised Socks Products is Propelling the Global Socks Market Growth
Based on product, casual socks represent one of the leading segments in the industry. Although, the growing awareness regarding health and fitness among consumers is anticipated to drive the demand for athletic socks over the forecast period. The growing demand for premium shoes and sports accessories among adults and the growing establishment of health clubs are projected to further aid the growth of the segment.
Due to the growing prevalence of foot disorders among diabetic patients, the key players are heavily investing in the development of customisable diabetic socks. This is expected be a major trend in the global socks market. The various research papers published by the health care professionals on maintaining healthy foot to prevent such disorders among diabetic patients has influenced the manufacturers to launch this product. Region-wise, while North America held a significant share of the market in 2020, the Asia Pacific is expected to witness the fastest growth rate in the coming years.
Socks: Market Segmentation
Sock refers to a piece of clothing made from soft material to cover the foot or the lower part of the leg. It is generally knitted from cotton, wool, or nylon and is worn under shoes. They are available in various colours, size, and materials to suit the requirement of the customer.
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Based on the product, the socks market is divided into:
- Casual
- Formal
- Athletic
- Specialty
- Others
By material, the industry can be segmented into:
- Nylon
- Cotton
- Polyester
- Wool
- Waterproof Breathable Membrane
- Others
The industry is categorised on the basis of demographics into:
- Men
- Women
- Kids
The major distribution channels for the product include:
- Hypermarket and Supermarket
- Convenience store
- Online
- Retail Store
The major regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Growing Hygiene Awareness to Bolster the Socks Market Growth
The major factors contributing to the growth of the global socks market include rising disposable incomes, growing retail industry, increasing shift towards sports and athletic activities, and the growing importance of maintaining formal attire in corporate offices. The rising consumer awareness regarding hygiene and growing occurrences of foot disorders are also pushing the growth of the socks industry forward. The market growth is expected to be higher in the developing regions owing to the growing penetration of corporate offices, thus, creating enhanced growth opportunities for the formal socks market.
Key Industry Players in the Global Socks Market
The report gives a detailed analysis of the following key players in the global socks market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- The Sock Factory
- Nester Hosiery
- Golden Lady Company SpA
- Nike Inc
- Hanesbrands Inc.
- Under Armour®, Inc.
- PUMA SE
- Strumpfwerk Lindner GmbH
- Exceptio Ltd
- HJ Hall Socks
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product |
|
| Breakup by Material |
|
| Breakup by Demographics |
|
| Breakup by Distribution Channel |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
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Socks Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global socks market attained a value of nearly USD 52.79 billion.
The market is projected to grow at a CAGR of 5.8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 87.93 billion by 2032.
The major drivers of the market, such as rising disposable incomes, increasing population, increasing health awareness, rising demand from the developing regions, increasing prevalence of foot disorders amongst the diabetic population, and growing technological advancements, are expected to aid the market growth.
The key market trends guiding the growth of the socks market include the growing R&D activities and the launch of customisable diabetic socks.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major products available in the market include casual, formal, athletic, and specialty, among others.
Nylon, cotton, polyester, wool, and waterproof breathable membrane, among others, are the significant materials utilised for the product.
The major segments based on demographics in the industry include men, women, and kids.
The significant distribution channels of the product include hypermarkets and supermarkets, convenience stores, online, and retail stores.
The major players in the market are 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.
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