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Socks Market Size, Trends, Analysis and Forecast 2022-2029

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Pune, India, Nov. 14, 2022 (GLOBE NEWSWIRE) — The world socks market size will experience substantial growth due to the multifunctional nature of footwear, says Fortune Business Insight™ in its report, entitled “Socks market, 2022-2029.

Due to rising per capita income, the demand for socks and other hosiery items from athletes and active lifestyles is expected to drive the market. In addition, medical professionals prescribe the use of diabetic socks for patients suffering from diseases such as foot ulcers and other infections due to diabetes. In addition, they are useful for hydrophobic people as they absorb excess sweat and allow patients to function better. Moreover, the socks are also used in yoga and meditation activities which are gaining popularity in urban areas. Additionally, the usage of socks in the fitness and health industry by athletes, bodybuilders, and individuals to adopt a healthy lifestyle is also expected to influence the growth of the market.

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Report Scope and Segmentation:

Report attribute Details
base year 2021
Historical year 2018 – 2020
forecast year 2022 – 2029
Segments Covered By end use and region
Forecast units Value (USD billion) and volume (units)
Quantitative units Revenue in USD Million/Billion and CAGR from 2022 to 2029
Regions covered North America, Europe, Asia-Pacific, Middle East and Africa, Latin America and Rest of the World
Countries covered Puma SE, Adidas AG, Asics Corporation, Renfro Corporation, THORLO Inc., Nike Inc., Hanesbrand Inc., Balega, Drymax Technologies Inc., Under Armor Inc., United Legwear & Apparel Co.

Fortune Business Insights™ lists all companies in the socks market that are currently working to reduce the impact of the Covid-19 pandemic on the market:

  • Puma SE
  • Adidas S.A.
  • Asics Company
  • Renfro Company
  • THORLO inc.
  • Nike Inc.
  • Hanesbrand Inc.
  • Balega
  • Drymax Technologies Inc.
  • Under Armor Inc.
  • United Legwear & Apparel Co.

Report Highlights

The report performs a detailed analysis of the latest market trends, major segments, and other factors influencing market growth. It extensively discusses the regional developments of the market. Additionally, it examines the impacts of COVID-19 on this market and studies the strategies devised by leading market players.

Drivers and Restrictions

Emerging sock brands with increasing retail stores to positively affect market growth

Many brands, such as Champion, Tippitoes, Hanes, Blue Q and others, provide socks to various retailers and stores around the world to increase their sales volume. Also, social media platforms are widely used to promote brands worldwide and drive demand. Moreover, the socks are available in many colors, varieties and sizes, designed by new companies. Hence, the availability of socks in several stores and their growing varieties are expected to boost the growth of this market.

Rising popularity of slippers, sandals, and flip flops instead of shoes, which require the use of socks, is expected to hamper the market growth. Additionally, socks made from cheap quality materials cause rashes, irritation, and redness, which may also restrain the market growth.

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Objective and scope of the report:

  • A market overview based on geographic scope, segmentation, and financial performance of major players is presented in the report.
  • The report presents the estimated market size by the end of the forecast period. Additionally, the historical and current size of the market is also examined in the report.
  • Based on various indicators, the annual growth (%) and compound annual growth rate (CAGR) for the given forecast period are offered.
  • The report presents the current industry trends and the future scope of the market in North America, Asia-Pacific, Europe, Latin America and Europe.
  • The various parameters accelerating the growth of the market are embedded in the research report.
  • The report analyzes the growth rate, market size, and market valuation over the forecast period.

segments

Based on product type, the market is segmented into casual socks, formal socks, and sports socks. According to the raw material, it is separated into nylon socks, cotton socks, polyester socks and others. Based on the end user, it is divided into men, women and children. It is categorized by distribution channels in hypermarkets/supermarkets, convenience stores and online. Geographically, it is distributed in North America, Asia-Pacific, Europe, South America, Middle East and Africa.

Regional outlook

Presence of numerous sock brands to help Asia-Pacific dominate the market

The Asia-Pacific region is expected to dominate the socks market share owing to the presence of several brands in the region, such as Tosside, Asics Corporation, Jockey, and others. Also, countries like India and China are the major footwear producers in the region and hence are well positioned to drive the market growth.

Due to the large North American footwear imports from the Asia-Pacific region, the market is expected to grow. The amount of imports from Asia-Pacific countries is expected to increase significantly in the coming years, attracting growth to the region.

Detailed Table of Contents:

  • Introduction
  • Search scope
  • Market segmentation
  • Research Methodology
  • Definitions and assumptions
  • Summary
  • Market dynamics
  • Market factors
  • Market constraints
  • Market opportunities
  • key ideas
  • Main emerging trends – for main countries
  • Latest technological advancement
  • Regulatory landscape
  • Industry SWOT Analysis
  • Analysis of the five forces of carriers
  • Qualitative Analysis – Impact of COVID-19
  • Measures taken by the government to overcome the impact
  • Key developments from industry players in response to COVID-19
  • Potential Opportunities and Challenges Due to the COVID-19 Outbreak

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Competitive landscape

Launch of targeted socks for the gaming audience to expand Puma’s presence in the market

In an attempt to expand its business, Puma launched socks in three different segments aimed at the gaming audience in December 2019. Additionally, to stay relevant, the companies introduced socks targeting people with excessive sweating and athletes. incorporating new technology that provides soaking characteristics, attracting great attention from enthusiasts. Additionally, key player partnerships with other companies have encouraged the production of innovative socks.

Report Sock Market Size Highlights:

  • Market penetration: Comprehensive information on the product portfolios of major players in the Socks market.
  • Product Development/Innovation: Detailed information on upcoming technologies, RandD activities and product launches in the market
  • Competitive Evaluation: In-depth assessment of market strategies, geographic and business segments of major market players
  • Market development: Comprehensive information on emerging markets. This report analyzes the market for various segments across geographies
  • Market Diversification: Exhaustive information regarding new products, untapped geographies, recent developments, and investments in the Socks market

industry development

  • January 2020: Happy Socks and Linda Ramone have teamed up to release an all new set of animated socks in remembrance of her late husband Johnny Ramone. The theme of the collection is their love for each other, with the items in the set featuring designs derived from their unique style and eclectic home décor.

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