The global socks market size is expected to reach USD 63.5
billion by 2025, according to a new report by Grand View Research, Inc.,
expanding at a CAGR of 6.0% over the forecast period. Growing demand for
various footwear products, particularly athletic shoes, as a result of increasing
spending among working class adults on gym training and outdoor sports activity
is expected to have a positive impact on the market growth. Additionally,
rising concerns over adverse effects associated with foot ulcers among diabetic
patients at a global level is projected to promote the utility of advanced sock
variants as a foot protective medium in the near future.
Casual variants dominated the socks market for
the year 2018. Growing inclination among adults towards casual socks in new
color designs as a result of new product launches by socks manufacturing
companies in e-commerce portals is expected to have a positive impact on the
segment growth. Furthermore, increasing awareness among the youth population of
developed economies including U.K. and Germany regarding wearing socks during
night in order to prevent hot flashes and improve cracked heals is expected to
remain a key trend.
Asia Pacific accounted for the largest share
of global revenue in 2018. Expansion of middle class income groups in emerging
economies including China and India is expected to remain a key driving factor
for the market. Furthermore, positive outlook towards the sports industry in
countries including China, India, and Australia as a result of increasing
number of sports events including Indian Premier League (IPL) and Big Bash
League is expected to open new avenues over the next few years.
Key manufacturers in the industry include Nike
Inc.; Puma S.E.; Adidas A.G.; Asics Corporation; Renfro Corporation; THORLO,
Inc.; Hanesbrands Inc.; Balega; Drymax Technologies Inc.; and Under Armour,
Inc. Companies are pursuing efforts on designing new products to increase their
market share.
For instance, in 2018, Kickstarter, PBC
launched 10 abstract designed socks under the brand, Say Possible. Furthermore,
Black Socks SA launched premium socks collection in 2017. The company also
provides subscription option where they will deliver these products at
customer’s door step after a particular period.
For full research report on Socks
Market visit here:
https://www.grandviewresearch.com/industry-analysis/socks-market
Further key
findings from the study suggest:
- Formal products accounted for more than 30.0%
share of the global socks market revenue in 2018
- Athletic variants are projected to ascend at a
CAGR of 6.7% from 2019 to 2025
- The women segment is expected to expand at the
fastest CAGR of 6.7% from 2019 to 2025
- Asia Pacific is expected to exhibit the
fastest CAGR of 7.2% from 2019 to 2025.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/socks-market/request/rs1
Grand
View Research has segmented the global socks market on the basis of product,
application, distribution channel, and region:
Socks Product
Outlook (Revenue, USD Billion, 2015 - 2025)
- Casual
- Formal
- Athletic
Socks
Application Outlook (Revenue, USD Billion, 2015 - 2025)
- Men
- Women
- Children
Socks
Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
- Hypermarket &
Supermarket
- Convenience Store
- Online
Socks
Regional Outlook (Revenue, USD Billion, 2015 - 2025)
- North America
- U.S.
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Central & South
America
- Brazil
- Middle East &
Africa
- South Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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