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The socks market size is forecast to increase by USD 16.45 billion at a CAGR of 5.82% between 2023 and 2028. The demand for professional socks, footcare socks, and an increase in the sales of sports shoes are notably driving the market growth. Additionally, the demand for the market is growing because the socks industry entering the healthcare industry. The socks market is experiencing growth driven by increasing demand for professional and footcare socks, as well as rising sales of sports shoes. The industry's expansion into the healthcare sector further boosts demand, with specialized socks providing benefits like muscle relaxation, odor elimination, comfort enhancement, and improved circulation. Additionally, socks for diabetic patients are gaining attention, helping prevent injuries, reduce irritation, and manage sensitivity. These factors collectively drive the market's growth in both general and specialized categories.
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The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The offline segment was valued at USD 31.32 billion in 2018. The revenue of the offline distribution channel primarily stems from the sales of products through hypermarkets, supermarkets, and franchised stores. To increase sales through offline channels, players are expanding their product portfolios in the global, regional, and local markets.
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The offline channel was the major contributor to the revenue of the global market in 2023 and is expected to remain a preferred channel during the forecast period. Companies are expected to resort to an online-to-offline (O2O) business strategy to enhance sales from the online distribution channel and promote the digital experience.
The plain-knitted product segment dominated the global market and accounted for the highest revenue share of more than 56.24%. The segment is anticipated to continue growing at the fastest rate, holding onto its top spot for the duration of the forecast. Many knitted fabrics that consumers wear today are made using plain knitting or a combination of plain and a purl stitch, which is a very popular knitting technique. As they are very elastic, stretchable, and comfortable to wear, these kinds are widely produced globally. These factors are expected to drive the market growth of the global market during the forecast period.
The rib-knitted product segment is anticipated to have the second-highest revenue share. The edges of rib-knit products easily curl when pulled, they are lightweight, and they are not stretchy. The production of children's clothing utilizes rib knits extensively. Around 2.01 billion children aged 0 to 14 lived on earth in 2021, according to the World Bank. Additionally, the rib-knitted segment is expected to witness strong growth. Hence, owing to these factors, the rib-knitted product segment is expected to register steady growth during the forecast period.
A secondary loop is knitted into the sock area in the terry manufacturing style to add additional cushioning. Terry style comes in two variations: full terry, which covers the entire foot, and half terry, which concentrates on the sole. Due to the additional cushioning, these products keep the foot warm while also increasing comfort for the foot. Socks help in the relaxation of muscles, eliminate odor-causing bacteria, improve comfort and reduce swelling, and keep feet warm to improve blood circulation. Socks are used by diabetic patients to prevent injury and reduce sensitivity and irritation.
APAC is estimated to contribute 31% to the growth of the global market share during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
APAC is estimated to contribute 31% during the forecast period.
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Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The APAC market is expected to grow due to rising disposable incomes, a growing retail industry, a shift toward sports and athletic activities, and the importance of formal attire in corporate offices. The region's professional cricket leagues, including the Indian Premier League and Big Bash League, will create new opportunities for athletes to spend on premium sports accessories, driving the market growth.
The market caters to various segments, including white-collar professionals and healthcare professionals. Specialized socks, such as diabetic socks with Podolite technology, compression socks, grip socks, and waterproof socks, hold significant importance in this industry. The healthcare sector, in particular, prioritizes health-conscious products for individuals with diabetes, as per World Health Organization guidelines. Textile standards and environmental regulations influence the production of raw materials for socks, with substitutes like bamboo, hemp, and organic cotton gaining popularity. Barefoot styles and compression sleeves also fall under the foot coverings category, catering to athletes and sports players. Corporate offices and retail outlets like supermarkets and hypermarkets stock a wide range of socks, including athletic socks, casual socks, and men's and women's socks made from materials like cotton and wool. Sports shoes and accessories further complement the market growth. In summary, the socks market encompasses diverse product offerings, catering to various customer segments and industries, with a focus on health, comfort, and sustainability.
Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 to 2022.
Rising demand for specialized socks products is notably driving market growth. The socks market has experienced significant growth due to the proliferation of retail and department stores, with white-collar professionals and sports enthusiasts driving demand for various types of socks. Shoe accessories, such as sports socks, ankle socks, and specialized socks, have gained popularity, particularly in response to the increasing sales of sports shoes. Healthcare professionals and diabetic patients require diabetic socks, which cater to specific needs like Podolite technology, to prevent foot complications like ulcers and infections. Corporate offices and textile industries adhere to textile standards and environmental regulations, leading to the production of compression socks, grip socks, waterproof socks, and other foot coverings. The sports industry, including sports players and athletes, fuels the demand for athletic socks and casual socks.
Raw materials like cotton and wool are used to manufacture men's and women's socks, which are available at hygienic and health-conscious outlets like supermarkets and hypermarkets. The World Health Organization emphasizes the importance of foot care for diabetic patients, leading to the development of specialized socks as a revenue-generating opportunity during the forecast period. Substitutes like barefoot styles and compression sleeves are also available in the market. Adventurous sports activities further expand the market for various sock types.
Launch of socks that track the temperature, movement, and location of infants is the key trend in the market. White-collar professionals and healthcare workers, particularly from the Millennial generation, are increasingly adopting advanced sock technology for their daily lives. This includes various types of socks such as sports socks, ankle socks, diabetic socks, compression socks, grip socks, and waterproof socks. These specialized socks cater to specific needs, like diabetes management with Podolite socks or infection treatments. The demand for such health-conscious products is driven by the active lifestyles and fitness consciousness of this generation. The sports industry and athletes also contribute significantly to the market, with raw materials like cotton and wool used in producing men's and women's socks.
Environmental regulations and textile standards play a role in the production process. Substitutes like barefoot styles and compression sleeves are also gaining popularity. These foot coverings are available at various retailers, including supermarkets and health stores. The World Health Organization emphasizes the importance of proper foot care for overall health, making these products essential for diabetic patients and other individuals requiring infection treatments.
Rising demand for synthetic or manmade fibers due to low prices is the major challenge that affects the growth of the market. In the market for socks, white-collar professionals and healthcare professionals seek specialized foot coverings for their specific needs. Synthetic fibers, such as those used in ankle socks and compression socks, have gained popularity due to their superior properties. These fibers offer high strength, low absorption rates, and quick-drying capabilities, making them ideal for various industries. Synthetics also serve as cost-effective substitutes for natural fibers like cotton and wool in producing socks for men and women. In the sports sector, athletes and sports players require athletic socks, grip socks, and waterproof socks for their adventurous activities. Diabetic patients, under the care of doctors, demand diabetic socks with features like Podolite for infection treatments and prevention.
The World Health Organization and textile standards set regulations for environmental concerns. Corporate offices stock casual socks for their employees, while healthcare facilities prioritize compression sleeves and socks for patients. Hypermarkets and supermarkets offer a wide range of health-conscious products, including socks, alongside sports shoes and accessories. Raw materials for sock production include synthetic fibers and natural fibers like cotton and wool. The sports industry continues to innovate, creating new types of socks for various purposes, such as compression socks and barefoot styles.
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Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Nike Inc. - The company offers socks such as training ankle socks and training crew socks. The footwear segment offers footwear for football, basketball, running, swimming, tennis, driving, cricket, and other sports.
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Adidas AG, ASICS Corp., Drew Brady and Co Ltd., Drymax Technologies Inc., FALKE KGaA, Glen Clyde Co., Ltd., Hanesbrands Inc., Implus Footcare LLC, Jockey International Inc., John Smedley Ltd., Nike Inc., OEJBRO ENGROS AB, Pantherella International Group Ltd., Patagonia Inc., PUMA SE, Ralph Lauren Corp., Skechers USA Inc., Swedish Socks AB, Thorlos, and Under Armour Inc.
Qualitative and quantitative analysis of market growth and trends of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified. Furthermore, market growth and forecasting it is also quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is evolving with the rising demand for specialized socks like sports socks and diabetic socks due to the increasing prevalence of foot disorders and diabetes. The socks market is witnessing significant growth, driven by the need for healthcare professionals. Brands are innovating with features to prevent foot ulcers and infections that can lead to amputation. Moreover, the innovations in materials and design are evident, with compression socks and waterproof socks catering to specific needs. Shoe accessories and performance-oriented apparel are also gaining traction, especially among smartphone users and those interested in Adventure sports tourism.
The market is also witnessing a shift towards sustainable practices, with consumers demanding Environmentally friendly products. Market concentration is high, with key players focusing on product quality, safety, and fair business practices. M&A activities are shaping the market landscape, enhancing market reach and distribution channels. As consumer preferences evolve based on age groups, lifestyles, and specific activity needs, manufacturers are responding with a variety of offerings, including casual socks, athletic socks, and compression sleeves. Overall, the market is adapting to meet the diverse needs of consumers, driven by advancements in materials, design, and a focus on health and performance.
Further, the market is witnessing a rise in demand driven by diverse consumer preferences and emerging trends in health, fitness, and eco-consciousness. With endorsements from athletic celebrities and increased participation in gym training and outdoor sports activities, there's a growing need for performance-enhancing features in socks. Advanced materials like olefin, polypropylene, and polyamide offer moisture-wicking and antibacterial properties, catering to health-conscious consumers and adventurers alike. The market encompasses a wide range of options, from traditional cotton and wool socks to innovative grip socks and functional apparel. Additionally, the rise of e-commerce platforms and social media influence has expanded market reach, making eco-friendly and sustainable socks accessible to urban customers and white-collar professionals seeking convenience and style in their footwear accessories.
Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2023 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.82% |
Market growth 2024-2028 |
USD 16.44 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.41 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 31% |
Key consumer countries |
China, Turkey, US, UK, and Germany |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Adidas AG, ASICS Corp., Drew Brady and Co Ltd., Drymax Technologies Inc., FALKE KGaA, Glen Clyde Co., Ltd., Hanesbrands Inc., Implus Footcare LLC, Jockey International Inc., John Smedley Ltd., Nike Inc., OEJBRO ENGROS AB, Pantherella International Group Ltd., Patagonia Inc., PUMA SE, Ralph Lauren Corp., Skechers USA Inc., Swedish Socks AB, Thorlos, and Under Armour Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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