The global socks market is expected to witness robust growth in the near future, thanks to rising demand for natural fabrics, and new opportunities in emerging regions. Moreover, the market is also witnessing growth due to new fashion trends, and changes in lifestyle such as increase in the usage of shoes.
The global socks market reached US$42.07 bn in evaluation in 2016. It’s noted 6.7% CAGR growth wasn’t surprising to many as the textile and fashion industry drove tremdous growth for the market. The low market share, and dependency of socks on the sales of shoes makes it a high-volume and low percentage margin unorganized market. However, new opportunities are expected to open up across the board as changing weather patterns, more demand for natural fabrics, and fashion trends like IoT wearable can make it a promising opportunity in the near future.
Brand Name of Product is Influencing on Growth of the Market
The increasing initiatives of the key players to offer something new and advanced products such as anti-bacterial and anti-fungal properties of socks. Some of these companies are focusing to offer socks made from Kevlar which are extremely strong, heat resistant, tough, and lightweight. Rising awareness about the benefits of wearing these socks is witnessing a surge in adoption from past few years. The aforementioned factors are boosting the growth of the global socks market.
The trend of using social media is influencing positively on the growth of the global socks market. Thanks to the reviews, blogs, and uploaded images of the latest fashionable ranges which the consumer share on their social media account. The social media platform serves as an experiences sharing hub for these products and these experiences are influencing positively on the growth of the global socks market.
Additionally, athletes, especially the young consumers prefer the brands which are promoted by their favorite international players. This factor is also influencing the growth of the global socks market. And this trend is likely to influence growth over the forecast period.
Lack of Knowledge about Socks Creating Growth Opportunities
Despite the presence of these growth prospects, rising trend of wearing open footwear which does not usually require socks is limiting the growth of the global socks market. Additionally, lack of knowledge about socks across rural areas of undeveloped countries is hampering the growth of the socks market to some extent. Moreover, the availability of duplicate products at low cost is also affecting the revenue of the global market. Nevertheless, increasing disposable income and booming online retails platforms globally are creating lucrative growth opportunities for key players in the upcoming years.
This information is included the report titled, “Socks Market (Type - Athletic Socks, Specialty Socks, Trouser Socks, Casual Socks, and Multiple Toe Socks; Material - Nylon, Cotton, Polyester, Wool, Waterproof Breathable Membrane, and Others; Gender - Men, Women, and Kids; Distribution Channel - Wholesale and Retail (Online, Supermarkets, and Hypermarkets); Age - 0-14, 15-24, 25-34, and Above 35; Sports - Running, Cycling, Ball Games, and Pressurized Socks) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2025”
The socks market is segmented as below:
- Athletic Socks
- Specialty Socks
- Trouser Socks
- Casual Socks
- Multiple Toe Socks
- Waterproof Breathable Membrane
By Distribution Channel:
- Above 35
- Ball Games
- Pressurized Socks
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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