The global Socks Market size was worth around USD 13.75 billion in 2023 and is predicted to grow to around USD 17.95 billion by 2032 with a compound annual growth rate (CAGR) of roughly 3.00% between 2024 and 2032.
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Market Overview for Socks
A pair of socks is a piece of fabric that is designed to safeguard the feet. Additionally, they are employed to prevent and conceal half of the calves and ankles. Historically, individuals donned socks crafted from animal leather and piloi, a type of animal hair. Furthermore, hosiery can be constructed from a variety of materials, including cotton, polyester, and nylon. Nevertheless, these socks are primarily employed to enhance softness by incorporating materials such as cashmere, bamboo, silk, and mohair, which are available in a variety of hues. Sports, business, and casual attire are the most frequent applications of socks. Business socks are utilized to achieve a formal appearance by incorporating colored hosiery. The term is frequently employed in a loose sense to denote a formal office environment.
The hosiery market is primarily driven by the growing demand for a variety of shoes. For example, the demand for sports hosiery is likely to increase in response to the growing popularity of sports shoes. It is anticipated that the socks market will experience a growth spurt during the forecast period due to the growing demand for socks among males. It has been discovered that nearly half of the males wear socks while engaging in daily activities. Furthermore, approximately 50% of the global populace utilizes hosiery on a daily basis. Over the anticipated timeline, this could lead to the expansion of the men’s apparel industry.
This report provides a thorough examination of the global hosiery market, including market trends, drivers, and restraints. The detailed competitive scenario and product portfolio of the main vendors are included in this report. An examination of Porter’s Five Forces model for the hosiery market has also been incorporated in order to comprehend the competitive landscape. The research includes a market attractiveness analysis, which evaluates the market size, growth rate, and general attractiveness of all segments.
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The Global Socks Market is segmented based on product, application and region
Global Socks Market: Product Segment Analysis
● Specialty Socks
● Athletic Socks
● Trouser Socks
● Casual Socks
● Multiple Toe Socks
Global Socks Market: Application Segment Analysis
● Men
● Women
● Kids
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The Global Socks market profiles key players such as:
● Drymax Technologies Inc.
● Nike Inc.
●Under Armour Inc.
● Adidas AG
● Renfro Corporation
● THORLO Inc.
● Hanesbrands Inc.
● Asics Corporation
● Balega
● Puma SE
Regional Perspectives on the Sock Market
In terms of revenue, Asia Pacific held the largest market share by region in 2023 and is anticipated to exhibit substantial development during the anticipated timeframe. The thriving retail sector in Asia Pacific countries, including China and India, and the growing popularity of fashion patterns among the youth are the primary factors contributing to this growth. Furthermore, the demand for cotton and woolen clothing is decreasing in developing countries as a result of their exorbitant prices. The expansion of the hosiery market in developing countries is being driven by the increasing utilization of syntactic fabric in the production of socks. The European socks market is expected to expand significantly in the future as a result of the colder weather and the escalating fashion patterns. Europe is the second largest market for socks in the globe.
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