Socks Market Size (2024-2030)

The Global Socks Market was valued at USD 52.5 billion and is projected to reach a market size of USD 81.05 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 6.4%.

Socks are a popular type of garment that covers the foot and may extend to the ankle, calf, or higher. Socks are worn for various reasons, including comfort, warmth, and fashion.The Socks Market is expected to grow significantly in the coming years due to a surge in demand for sustainable and eco-friendly options, continuous innovation in materials and technologies, and the increasing emphasis on socks as a fashion statement, catering to diverse consumer preferences. The major well-established key players in the Socks Market are Nike, Adidas, Hanesbrands, Under Armour, and Puma.

Key Market Insights:

The growing emphasis on socks as a fashion statement, increasing demand for health-conscious and customizable options, sustainable practices, and the expansion of e-commerce.are propelling the Socks Market. The restraints on the Socks Market include the potential competition and saturation, supply chain disruptions, shifting consumer preferences, and environmental concerns.

Asia-Pacific occupies the highest share of the Socks Market. Globally, China generates the highest revenue in the socks market generating a substantial US$ 3,136 million. The socks market in India is on the rise, reaching INR 53.58 billion in 2023, fueled by the increasing prevalence of foot-related issues, expanding retail outlets, and the growth of e-commerce platforms. India's market shows promising growth, with a forecasted CAGR of 9% during the forecast year.

Socks Market Drivers:

Fashion Consciousness and Personalization drive the demand for Socks Market

The modern consumer perceives socks as more than just utilitarian items. They view them as fashion accessories that contribute to their overall style. Socks play a key role in expressing individuality and personal fashion preferences. This increasing demand for a wide variety of sock designs, patterns, and colors that align with diverse fashion trends. There is growth in the market for customizable and specialty socks, meeting the need for unique and personalized options. Collaboration between sock brands and fashion designers to create limited-edition and exclusive sock collections is the latest trend.

Focus on Health and Wellness is propelling the Socks Market

Heightened awareness of foot health and overall wellness has influenced consumer sock choices. Socks are designed with specific features to address health concerns and enhance comfort during various activities. There is a growing demand for performance socks equipped with moisture-wicking technology, aiding in moisture management during physical activities.

This increases the popularity of compression socks, especially among athletes, travelers, and individuals seeking improved circulation and reduced fatigue. There is a rise in the market for specialty socks catering to specific health needs, such as diabetic-friendly socks, orthopedic socks, and those addressing various foot conditions.

Socks Market Restraints and Challenges

The major challenge faced by the sock market is the intense competition among numerous sock manufacturers. This leads to market saturation, making it challenging for brands to differentiate and maintain profit margins. Another challenge is the rapid shifts in fashion trends and consumer preferences. This poses a challenge for manufacturers to adapt quickly, potentially resulting in an excess inventory of outdated styles. Growing awareness of environmental issues leads to increased scrutiny of the textile industry's sustainability practices. This affects companies that do not prioritize eco-friendly manufacturing.

Socks Market Opportunities:

The Socks Market has various opportunities in the market. The continued expansion of e-commerce presents an opportunity for sock manufacturers to reach a global audience. Investing in research and development for innovative sock materials and technologies can create opportunities to meet evolving consumer demands for comfort, performance, and sustainability. Other Opportunities in the Socks Market include a rising emphasis on customization and personalization, a growing focus on health and wellness, increased adoption of sustainable practices, potential collaborations and licensing ventures, exploration of specialized markets, and opportunities for brand diversification.

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SOCKS  MARKET REPORT COVERAGE:

Socks Market Segmentation

Socks Market Segmentation: By Material:

• Cotton Blend Socks
• Woolen Socks
• Nylon Blend Socks
• Polyester Mix Socks
• Silk Blend Socks
• Synthetic Performance Socks
• Others

In 2023, based on market segmentation by Material, Cotton Blend Socks and Woolen Socks occupy the highest share of the Socks Market. This is due to a broad consumer base seeking comfort and warmth. Cotton Blend Socks are typically comfortable and breathable, suitable for everyday wear. Woolen Socks are known for their warmth and are ideal for cold weather and outdoor activities.

However, Synthetic Performance Socks are also the fastest-growing segment during the forecast period and are projected to grow at a CAGR of 12%. This is due to increasing demand for specialized socks with advanced features for sports and active lifestyles. Synthetic Performance Socks are engineered with advanced materials for enhanced performance, support, and moisture control, making them suitable for athletic activities.

Socks Market Segmentation: By Application :

• Athletic Performance Socks
• Workwear and Professional Socks
• Casual and Everyday Wear Socks
• Health and Wellness Socks
• Fashion and Style Socks
• Special Occasion Socks
• Others

In 2023, based on market segmentation by Application, the Casual and Everyday Wear Socks segment occupies the highest share of the Socks Market. This is mainly due to their comfort during routine activities, making them an integral part of daily wear. Casual and Everyday Wear Socks appeal to a broad and diverse consumer base. These socks are versatile and adaptable to various daily activities. The emphasis on comfort is a key factor driving the success of Casual and Everyday Wear Socks.

However, the Health and Wellness Socks are the fastest-growing segment during the forecast period. This is mainly due to the growing emphasis on health and comfort. These socks are designed for specific health and wellness purposes, such as diabetic-friendly or compression socks. The awareness of foot health is also driving its growth.

Socks Market Segmentation: By End user:

• Children
• Women
• Men

In 2023, based on market segmentation by End user, the Women segment occupies the highest share of the Socks Market. This is mainly due to women's tendency to have a higher variety of sock styles for different occasions and fashion trends. The market for women's socks is also influenced by a wide range of designs, materials, and purposes.

However, Children are the fastest-growing segment during the forecast period. This is mainly due to the frequent need for replacements as children grow. There is an increasing focus on designing socks with vibrant colors, characters, and comfort features for children.

The Men's sector also holds a significant market. The growth is fueled by the durability, comfort, and functionality of men’s socks.

Socks Market Segmentation: Regional Analysis:

• North America
• Asia-Pacific
• Europe
• South America
• Middle East and Africa

In 2023, based on market segmentation by region, Asia-Pacific occupies the highest share of the global socks market. This growth is due to the significant population in countries like China and India, where socks are essential daily wear items. Asia-Pacific is a major manufacturing hub for the global sock industry. China, India, and Bangladesh are major textile and apparel manufacturing centers, benefiting the socks market due to their sizable labor force and cost-effective production capabilities.

However, Middle East and Africa is the fastest-growing segment during the forecast period. This is mainly due to an increasing focus on fashion, rising disposable incomes, and changing lifestyles. There is a growing awareness of different sock styles and materials in these regions.

North America and Europe have mature markets with a stable demand for various types of socks due to the emphasis on fashion trends, eco-friendly materials, and technological innovations in sock manufacturing.

South America has a smaller segment compared to others. South America has a growing market for socks influenced by urbanization, changing consumer lifestyles, and increasing fashion consciousness.

COVID-19 Impact Analysis on the Global Socks Market :

The COVID-19 pandemic had a significant impact on the Socks Market. The pandemic led to disruptions in the global supply chain due to lockdowns and travel restrictions. This affected the production and distribution of socks. Factory closures, transportation issues, and labor shortages also contributed to these disruptions. There was a decline in the demand for certain types of socks, particularly those associated with formal or athletic wear due to fewer opportunities for socializing and outdoor activities. On the positive side, the increased reliance on online shopping during lockdowns boosted e-commerce sales of socks. Consumers turned to online platforms for their sock purchases. This led to opportunities for brands with a strong online presence.

Latest Trends/ Developments:

The increasing consumer awareness and demand for sustainable and eco-friendly products have led to the incorporation of environmentally friendly materials and production practices in the sock industry. Ongoing research and development in materials and technologies, such as moisture-wicking fabrics, smart textiles, and advanced knitting techniques, drive innovation in the sock market. Socks are becoming a fashion statement, with unique designs, bold patterns, and vibrant colors. Collaborations with fashion designers and influencers also contribute to the introduction of stylish sock collections. Brands are offering customization options, allowing consumers to personalize their socks with unique designs, colors, and even custom embroidery or prints. This enhances the overall customer experience.

Key Players:

1. Nike, Inc.
2. Adidas AG
3. Hanesbrands Inc.
4. Under Armour, Inc.
5. Tosside
6. Asics Corporation
7. Jockey
8. Puma SE
9. Balenzia Socks
10. Swiftwick
11. Osan and Sockshop
12. CEP (Compression Equipment Professionals)
13. Caroline Gardner
14. Drymax Technologies Inc.
15. Foot Locker, Inc.

Market News:

• In May 2022, Adidas AG entered into a new long-term strategic partnership with Foot Locker, Inc. This collaboration aims to broaden the range of footwear and related products catering to the sneaker and sports communities.
• In October 2022, PUMA SE unveiled a collection of triple socks specially designed for men.
• In September 2022, Drymax Technologies Inc. introduced two innovative diabetic socks that significantly enhance the foot environment within the shoe.
• In March 2023, Balenzia Socks, a well-known premium sock brand, opened its third store of the year at VR Mall in Surat, India.
• In March 2023, Swiftwick launched the MAXUS sock, featuring a high-performance footbed made from REPREVE, a recycled polyester material.
• In June 2022, Osan and Sockshop secured the license for Caroline Gardner socks in the United Kingdom.
• In February 2022, CEP introduced its run sock collection, which includes five products designed to meet various needs. The collection features knee-high socks, calf sleeves, and mid-cut, low-cut, and no-show socks, all equipped with intelligent features to enhance performance, reduce fatigue, and provide unmatched comfort.