A kid’s socks is a clothing item helps to absorb sweat during summers and also provide insulation to the feet in cold weather. Increasing purchasing power, expansion of online platforms, low manufacturing cost, and rising demand for different footwear are major factors driving the global kid’s socks market. Some market players also offer socks that have anti-fungal properties and are lightweight. Manufacturers are focusing on branding, advertising, and design. All these factors also expected to boost the demand for kid’s socks. Rising number of local vendors is likely to pose a threat of counterfeit and low quality products. Moreover, volatility in prices of raw materials’ (cotton and wool) also has a significant impact. These factors are expected to hamper the global kid’s socks market during forecast period.
The global kid’s socks market can be segmented based on material, type, application, distribution channel, and region. Based on type, the kid’s socks market can be categorized into athletic socks, specialty socks, casual socks, and multiple toe socks. The casual socks segment accounted for a dominant share of the market. It is expected to maintain its dominance during the forecast period. Based on material, the kid’s socks market can be classified into cotton and wool. The wool segment held a prominent share of the market. However, demand for kid’s socks in the cotton segment is projected to rise during the forecast period. Based on application, the market can be bifurcated into boys and girls. Based on distribution channel, the market can be split into online and offline. The offline segment can be further sub-segment into retailer, wholesaler, supermarket, specialty store, multi brand store, and others. The online segment is expected to expand at a rapid pace in the near future, due to technological advancements and a rise in the number of online shopping customers and online platforms the offer discounts on a wide range of products.
In terms of region, the global kid’s socks market can be segmented into Asia Pacific (India, China, and Japan), Middle East & Africa (GCC and South Africa), Europe (U.K, France, and Germany), North America (U.S and Canada), and South America (Brazil). North America and Europe dominated the global kid’s socks market, due to high demand for socks from developed countries such as France, Canada, the U.S., and England. Furthermore, most players in the global market have presence in these regions. The market in Asia Pacific is estimated to expand at a rapid pace during forecast period. Demand for kid’s socks is projected to increase in emerging economies in the region, such as India and China, due to rising awareness about the benefits of socks and rise in disposable income. The market in South America and Middle East & Africa is projected to expand at a considerable pace during the forecast period.
The global kid’s socks market is highly fragmented, due to the presence of numerous international, domestic, and local players. The manufacturing cost of socks is significantly low and hence, the risk of new entrants is high. These new entrants further increase the competition between players. Key players are focusing on innovation in production technologies and offering new products in order to reduce the effect of competition on revenue and sales. Key players operating in the global market include Nike Inc., Adidas, Jefferies Socks LLC, Hansbrands Inc., Adidas, Stance, Inc. Jiangxi Mengna Socks Co. Ltd., Ralph Lauren LLC, Falke, and SmartWool. The degree of competition between the players operating in the global kid’s socks market is very high. Manufacturers are consistently emphasizing on innovation and development of new production techniques in order to reduce manufacturing cost and offer new products. This is estimated to help them consolidate their position in the market during the forecast period.
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