The global Socks market reached a value of about USD 46.5 billion in 2021. The industry is projected to grow at a CAGR of around 6.3% in the forecast period of 2022-2027 to reach a value of about USD 67 billion by 2027.
The global Socks industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The rising demand for the product by corporate workers propels the industry forward. Asia, the Middle East, and Europe are the highest category spender by region, driving the market for the Socks industry.
A sock is a knitted or woven item of clothing covering the foot or the lower portion of the leg and is commonly worn beneath shoes. It is composed of soft material and is usually cotton, wool, or nylon. They come in various colours, sizes, and materials to meet the consumer's needs. The Socks industry report includes segments by Product (Casual Socks, Formal Socks, Athletic Socks, Specialty Socks, Others), by Material (Nylon, Cotton, Polyester, Wool, Waterproof Breathable Membrane, Others), by Demographics (Men, Women, Kids), by Distribution Channel (Hypermarkets and Supermarkets, Convenience Stores, Online, Retail Stores) and region (North America, Europe, Asia Pacific, the Middle East, and Africa, and South America).
Asia, the Middle East, and Europe are regions leading the industry growth due to factors like population growth, increased disposable income, and urbanisation in developing countries such as China, Bangladesh, Pakistan, and India. Additionally, an expanding number of professional cricket competitions in India and Australia, such as the Indian Premier League (IPL) and the Big Bash League, are expected to create new avenues for local players to spend more on luxury sports accessories such as shoes and socks.
The market is driven by the growing relevance of formal dress among white-collar workers. Due to the increasing presence of corporate offices in emerging nations, the standard socks market is likely to rise faster. Furthermore, the increased prevalence of foot illnesses and expanding consumer awareness of hygiene are propelling the socks sector ahead. Consumers' increased awareness of health and fitness and growing expenditure on health-conscious products such as fitness and gym equipment, sports shoes and accessories, and other items are anticipated to fuel the market demand. Consumer's increasing desire for quality shoes and sports equipment and the expanding number of health clubs are expected to boost the segment's growth.
The global Socks industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Socks regions across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.
The essential ingredients must first be cleaned and spun into yarn before the sock knitting process can begin. Coloured socks are either coloured after knitting or knit using in-grain yarn that has already been dyed. The toe seams are closed once the socks have been made. The sock is tested for quality when it exits the knitting machine, and then it is sent to the seaming section, where the toe opening is shut. Socks are cleaned and dried after the knitting and seaming procedure. Washing yarns eliminates knitting oils and residue, reducing shrinkage and stabilising them. The socks are taken to the board pairing area after cleaning and drying. The final phase in this procedure is a thorough quality inspection, during which the finished product is thoroughly examined, and any errors are traced back to the production process and repaired. The socks are neatly wrapped and ready to send once they have passed the final quality inspection.
The industry is being aided by the growing efforts of leading companies that are extensively investing in developing customised diabetic socks due to the rising frequency of foot diseases among diabetes patients. The producers were encouraged to create this product by several study articles released by health care specialists on preserving healthy feet to prevent such diseases among diabetes patients. Diabetic individuals prefer to wear diabetic socks prescribed by their doctors to protect their feet due to the increased requirement for a foot ulcer and infection treatments. Other essential factors aiding the market growth are rising disposable incomes, a growing retail industry, and a growing prevalence of sports and athletic activities.
The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
Many celebrity sponsorships have aided the market's rise by well-known brands. Some players create customised merchandise for professional athletes. Mergers and acquisitions are critical for the socks industry's success. Other forms of collaboration, such as partnerships and joint ventures, also contribute to the overall growth of the socks industry. The efforts help enhance the players' footing, resulting in a faster pace of change for the socks industry. The leading players' growing efforts to offer innovative and improved goods, such as socks with antibacterial and antifungal qualities, which are exceptionally strong, heat resistant, robust and lightweight, are furthering the industry's growth.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
7 Industry Opportunities and Challenges
8 Global Socks Market Analysis
8.1 Key Industry Highlights
8.2 Global Socks Historical Market (2017-2021)
8.3 Global Socks Market Forecast (2022-2027)
8.4 Global Socks Market by Product
8.4.1 Casual Socks
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
8.4.2 Formal Socks
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
8.4.3 Athletic Socks
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
8.4.4 Specialty Socks
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
8.5 Global Socks Market by Material
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
8.5.5 Waterproof Breathable Membrane
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
8.6 Global Socks Market by Demographics
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
8.7 Global Socks Market by Distribution Channel
8.7.1 Hypermarkets and Supermarkets
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
8.7.2 Convenience Stores
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
8.7.4 Retail Stores
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
8.8 Global Socks Market by Region
8.8.1 Market Share
126.96.36.199 North America
188.8.131.52 Asia Pacific
184.108.40.206 Latin America
220.127.116.11 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
18.104.22.168 United States of America
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
22.214.171.124 United Kingdom
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
126.96.36.199 Saudi Arabia
188.8.131.52 United Arab Emirates
184.108.40.206 South Africa
10 Market Dynamics
10.1 SWOT Analysis
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Key Players
12.3 Company Profiles
12.3.1 Adidas A.G.
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
12.3.2 Nike Inc.
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
12.3.3 Puma S.E.
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
12.3.4 Hanesbrands Inc.
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
12.3.5 Under Armour, Inc.
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
13 Industry Events and Developments
The global Socks market size was valued at USD 46.5 billion in 2021.
In the forecast period of 2022-2027, the market is projected to grow at a CAGR of 6.3%.
The significant demand for unique socks for diabetic patients is one of the essential drivers of the Socks market growth.
Adidas A.G., Nike Inc., Puma S.E., Hanesbrands Inc., Under Armour, Inc, and Others are some of the major players in the market.
Asia, Middle East, and Europe region of the Socks industry holds a significant share in the market.
The global Socks market attained a value of USD 46.5 billion in 2021, driven by the growing relevance of formal dress among white-collar workers. Other essential factors aiding the market growth are rising disposable incomes, a growing retail industry, and a growing shift toward sports and athletic activities. Aided by the ever-increasing efforts of leading companies that are extensively investing in developing custom diabetic socks due to the rising rate of foot diseases among diabetes patients, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 6.3%. The market is projected to reach USD 67 billion by 2027. Some of the leading players in the industry are Adidas A.G., Nike Inc., Puma S.E., Hanesbrands Inc., Under Armour, Inc, and Others.
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