Tuesday, 25 April 2023 07:39 AM
Company Update
WILMINGTON, DE / ACCESSWIRE / April 25, 2023 / Transparency Market Research Inc. - The global socks market size stood at US$ 46.5 Mn in 2021 and is projected to reach a value of US$ 81.6 Mn by 2031. The global industry is expected to expand at a CAGR of 5.9% between 2022 and 2031. Given the existence of several global and local firms in the global socks market, the market is expected to observe steady growth.
Market demand for socks is anticipated to increase due to increase in usage of socks during gym workouts and outdoor sports. Additionally, socks help keep the feet cozy and reduce odor, which is anticipated to expand the global market.
The Asia Pacific market is anticipated to expand significantly due to rise in population developing countries in the region. Additionally, major competitors in the market are offering various types of socks, including compression socks, which can be personalized for both women and men.
Leading companies in the socks market are also working toward broadening their geographic reach and cater to a larger spectrum of consumers by offering products via multiple distribution channels.
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Key Findings of Market Report
- Based on type, the athletic socks segment is expected to expand at a high growth rate during the forecast period. Growth of the segment is attributed to rise in number of individuals taking part in athletic sports worldwide.
- Based on material, the cotton segment is predicted to expand at a rapid pace between 2022 and 2031. Extensive availability and low cost of cotton socks are likely to drive revenue generation opportunities for the segment. Furthermore, cotton socks are stronger, easier to wear, and possess better moisture absorption ability. All these advantages are anticipated to drive socks industry growth in the near future.
Global Socks Market: Growth Drivers
- People who in formal work settingstypically preferadhere to the standarddress code, which comprises formal apparel, socks, and shoes. Consequently, an increase in the working population is anticipated to fuel market demand all over the world.
- Additionally, as wearing socks and shoes is mandatoryin numerous educational facilities across the world, an increase in number of students attending college and high school is also expected to significantly boost the demand for socks.
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Global Socks Market: Regional Landscape
- Based on region, the market in Asia Pacific is anticipated to expand at a rapid pace owing to the presence of growing economies, particularly India and China and their large populations. Additionally, expansion of retail establishments in the region, particularly in Singapore, Malaysia, India, and China, is anticipated to expand business opportunities for the socks market.
Global Socks Market: Key Players
Some of the key players in the global socks market are as follows
- Under Armour, Inc.
- Drymax Technologies Inc.
- Puma S.E.
- THORLO, Inc.
- Asics Corporation
- Nike Inc.
Key Points from TOC:
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions
3. Research Methodology
4. Executive Summary
5. Market Overview
5.1. Introduction
5.2. Market Dynamics
5.2.1. Drivers
5.2.2. Restraints
5.2.3. Opportunities
5.3. Key Trends Analysis
5.3.1. Demand Side Analysis
5.3.2. Supply Side Analysis
5.4. Key Market Indicators
5.4.1. Overall Apparel Market Overview
5.5. Porter's Five Forces Analysis
5.6. Value Chain Analysis
5.7. Industry SWOT Analysis
5.8. Technology Overview
5.9. COVID-19 Impact Analysis
5.10. Global Socks Market Analysis and Forecast, 2017 - 2031
5.10.1. Market Value Projections (US$ Mn)
5.10.2. Market Volume Projections (Thousand Units)
6. Global Socks Market Analysis and Forecast, by Product Type
6.1. Global Socks Market Size (US$ Mn and Thousand Units) Forecast, by Type, 2017 - 2031
6.1.1. Athletic Socks
6.1.2. Specialty Socks
6.1.3. Trouser Socks
6.1.4. Casual Socks
6.1.5. Multiple Toe Socks
6.1.6. Others (Ankle socks, No show socks, Toe Cover, etc.)
6.2. Incremental Opportunity, by Product Type
TOC Continued……
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Global Socks Market: Segmentation
Type
- Athletic Socks
- Specialty Socks
- Trouser Socks
- Casual Socks
- Multiple Toe Socks
- Others
Material
- Nylon
- Cotton
- Wool
- Others
End-user
- Men
- Women
- Kids
Distribution Channel
- Online
- Offline
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
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