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Global Socks Market to Reach USD 61.5 Billion by 2026, Aided by the Rising Demand from the Sports Industry

According to a new report by EMR titled, ‘Global Socks Market Report and Forecast 2021-2026’, the global market for socks to reach a value of about USD 43.6 billion by 2020. The market is expected to grow at a CAGR of 6.3% in the forecast period of 2021-2026 to attain an estimated value of USD 61.5 billion by 2026.

The global market of socks is significantly aided by the increasing population, rising disposable incomes, growing retail industry, and an increasing shift towards sports and athletic activities. The increasing awareness in consumers regarding foot-related diseases is also aiding the growth of the socks industry. The market is further expected to grow in the region which are developing, owing to the increasing corporate population, creating an opportunity for the growth of the formal socks segment.

Companies like Adidas A.G (ADDYY: OTC) and NIKE Inc. (NYSE: NKE) have facilitated in maintaining the supply chains across the globe for socks. The market is also expected to be propelled by the rising demand for sustainable products. Thus, in 2020, Adidas announced that almost 60% of its products shall be made with sustainable materials by 2021. This is expected to boost the sales across all segments of the company, including socks and catalyse the overall growth of the industry.

Market Breakup by Product, Material, Demographics, Distribution Channel, and Region:

  • On the basis of product, the market is segmented into casual socks, formal socks, athletic socks, speciality socks, multiple-toe socks, and others.
  • By material, the market is divided into nylon, cotton, polyester, wool, waterproof breathable membrane, and others.
  • The market is segmented on the basis of demographics as men, women, and kids.
  • Based on distribution channels, the market is divided into hypermarket and supermarket, convenience stores, online, and others.
  • Region-wise, the global market for socks can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The market is aided by the significant demand for socks from the sports industry.
  • The rapid urbanisation and corporate culture, along with increasing disposable incomes, are also facilitating the market growth.
  • The growing penetration of major players into emerging countries is also expected to further the market growth.
  • The growing enthusiasm among consumers for health and fitness activities is also aiding the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for socks for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) markets for the products, materials, demographics, distribution channels, and major regions of socks.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global socks market include Adidas AG, Nike Inc., Puma S.E, Hanesbrands Inc., and Under Armour Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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