NEW
YORK, July 19, 2024 /PRNewswire/ -- The
global socks market size is estimated to grow by
USD 16.44 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of 5.82% during the forecast period. Rising
demand for specialized socks products is driving market
growth, with a trend towards launch of socks that track
the temperature, movement, and location of infants..
However, rising demand for synthetic or manmade fibers due to
low prices poses a challenge. Key market players include
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..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Distribution Channel
(Offline and Online), Product (Plain knitted, Rib knitted, and
Terry knitted), and Geography (APAC, Europe, North America, South
America, and Middle East and Africa)
|
Region
Covered
|
APAC, Europe, North
America, South America, and Middle East and Africa
|
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.
|
Key Market Trends Fueling Growth
Millennial parents are turning to smart technology for their
babies, transforming nurseries into connected data centers. This
generation, accustomed to tracking fitness and work habits with
apps and wearables, now monitors their children's health through
connected products. Smart baby technology offers feedback from
feeding bottles, pacifiers, cribs, prams, and clothes. Some
products ease new parent stress, while others automate tasks,
shifting intuition-based parenting to automated processes. This
trend will significantly contribute to the growth of the market
focused on smart technology for babies.
The socks market is currently experiencing significant growth,
with brands and suppliers focusing on various trends. Socks are now
available in a wide range of materials such as cotton, polyester,
and wool. Brands are introducing new technologies like compression
socks for health and slippers for comfort. Socks come in various
colors, designs, and patterns to cater to diverse consumer
preferences. Socks are also being marketed as fashion accessories,
with brands collaborating with celebrities and influencers. Socks
are being produced in large quantities using modern production
techniques to keep up with the increasing demand. Socks are also
being sold through various channels, including online marketplaces
and physical stores. Overall, the socks market is an exciting space
to watch, with constant innovation and consumer demand driving
growth.
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Market Challenges
- Synthetic fibers have gained significant market share in the
sock industry due to their superior properties. These fibers offer
high strength, low absorption rate, and durability, resulting in
long-lasting socks. The low absorption capacity allows synthetic
fiber socks to dry quickly after washing. Additionally, synthetic
fibers provide a cost-effective alternative to natural fibers, such
as cotton, silk, and wool, which have become expensive in their
pure forms. Many synthetic fabrics mimic natural fabrics, like wool
and silk, offering similar benefits at a lower cost.
- The socks market faces several challenges in today's consumer
landscape. Durability is a key concern, with customers seeking
long-lasting socks that can withstand regular use. Comfort is
another challenge, as consumers expect socks that fit well and
provide adequate cushioning. Brands must also address the issue of
color fading, ensuring that socks retain their vibrant hues after
multiple washes. Additionally, sustainability is becoming
increasingly important, with many consumers preferring eco-friendly
materials and production methods. Craftsmanship and design are also
critical factors, as consumers look for unique and stylish socks
that express their personalities. Overall, the socks market
requires innovative solutions to meet the diverse needs and
preferences of modern consumers.
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challenges - Download a Sample Report
Segment Overview
This socks market report extensively covers market segmentation
by
- Distribution Channel
- Product
- 2.1 Plain knitted
- 2.2 Rib knitted
- 2.3 Terry knitted
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Offline- The socks market experiences
consistent demand due to its essential nature and seasonal
variations. Annual sales peak during colder months, while summer
brings focus on casual, breathable options. Major players include
Hue, Smartwool, and Fruit of the
Loom, offering various styles and materials to cater to diverse
consumer preferences. Competition remains strong, necessitating
continuous product innovation and pricing strategies to maintain
market share.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
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reports
The global hosiery market is driven by increasing fashion
consciousness and the growing demand for comfortable and stylish
legwear. Innovations in materials and designs, along with rising
disposable incomes, are fueling market growth. Advanced baby
monitors integrate smart technology like video streaming, motion
sensors, and temperature monitoring to provide real-time updates to
parents. This market is expanding due to rising concerns about
child safety and the desire for convenient parenting solutions. Gel
socks are gaining popularity for their therapeutic benefits,
offering moisture control, cushioning, and relief for foot ailments
like dryness and fatigue. The market growth is supported by
increasing health awareness and the demand for wellness-oriented
products.
Research Analysis
The socks market encompasses a wide range of products, including
cotton, wool, and synthetic fibers. An assortment of sock styles
caters to various consumer needs, such as ankle socks, crew socks,
knee-high socks, compression socks, athletic performance socks, and
diabetic socks. The socks industry is influenced by several
factors, including climate change, pollution, and the increasing
number of white-collar professionals and smartphone users. Advanced
materials and technologies, like Podolite, are being integrated
into sock production to enhance athletic performance and address
foot disorders. The market serves a diverse consumer base,
including sports players, athletes, and diabetic patients, who rely
on socks for comfort, support, and health benefits. Doctors and
researchers continue to explore the potential of socks in
addressing foot disorders and improving athletic performance
through numerous research papers.
Market Research Overview
The socks market encompasses a wide range of hosiery products,
including cotton, wool, synthetic, and other types. These socks are
designed for various uses, such as athletic, casual, formal, and
therapeutic purposes. The production process involves the use of
advanced technologies and materials to create comfortable, durable,
and stylish socks. The market is driven by factors like increasing
consumer awareness, changing fashion trends, and the growing health
consciousness of consumers. Socks are available in various sizes,
colors, and designs to cater to diverse customer preferences. The
market is expected to grow significantly due to the rising demand
for sustainable and eco-friendly socks made from organic materials.
The segment for performance socks, including those for running,
hiking, and other sports, is also expected to witness robust
growth. Overall, the socks market offers numerous opportunities for
manufacturers, suppliers, and retailers to innovate and cater to
the evolving needs and preferences of consumers.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Distribution Channel
-
- Product
-
- Plain Knitted
- Rib Knitted
- Terry Knitted
- Geography
-
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
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Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio