NEW YORK, March 23, 2016 /PRNewswire/ -- Socks are commodity products. However, in recent years with the advent of luxury socks and socks for specific application, socks have transformed from commodity items to fashion pieces. Owing to the transformation of this traditional item into a luxury product, the growth of the socks market outpaces the overall growth of the apparel industry. Almost 70% of the men use socks every day. Hence, the robust growth of the men's apparel industry is expected to be the major driver of the socks industry during the forecast period.
The growth of the socks market is attributed to the rapid expansion of the retail network in developing economies primarily China, Brazil, and India. Increasing population and disposable income in these regions is expected to further drive the retail sector, which in turn is increasing the demand for socks. Asia Pacific accounted for the largest market share for socks. North America and Europe also contributed a considerable market share; however, growth in these regions is stagnant or has reached a stage of maturity, especially in Europe. Asia Pacific and RoW are likely to have better growth potential during the forecast period due to the rise in population, GDP, and favorable government policies to boost the growth of the organized sector in these regions. The major opportunities for the global socks market lies in the improved fashion trends powered by rising income. Application specific customization of socks is creating new opportunities in the market.
Athletic socks are the largest product segment in the socks market. The primary driver for the athletic socks market is its diversified application. Athletic socks are majorly used for sports and gym purposes; however, they can also be used as casual wear with informal footwear. Trouser socks are accessories used along with formal footwear by both men and women. In terms of materials used, cotton accounts for the largest market share at almost one third of the total market. However, the market share of cotton is expected to decline during the forecast period owing to the tough competition from man-made fibers especially nylon and polyester.
This market research study analyzes the socks market globally and provides estimates in terms of revenue (USD Million) from 2015 to 2021. It recognizes the drivers, restraints, and opportunities affecting the industry and analyzes their impact over the forecast period.
The report segments the market on the basis of geography into Europe, North America, Asia-Pacific (APAC), and Rest of the World (RoW), and these have been estimated in terms of revenue (USD Million). The report segments the market in terms of product types as specialty socks, athletic socks, trouser socks, women's socks, casual socks, and others. It also segments the market on the basis of materials used for manufacturing socks as nylon, cotton, polyester, wool, waterproof breathable membrane, and others. All these segments have also been estimated on the basis of geography in terms of revenue (USD Million). For better clarity of the consumers' perspective, the report segments the market by gender into men's socks, women's socks, and kids' socks.
For better understanding of the socks market, we have provided key market trends. Furthermore, the study comprises distribution channel analysis, where distribution networks are benchmarked based on their percentage sales and general attractiveness.
The report provides company market share analysis of various industry participants. Key players have also been profiled on the basis of company overview, financial overview, business strategies, and recent developments in the field of socks. Major market participants profiled in this report include Adidas Group, Nike, Inc., Puma SE, Thai Socks Co., Ltd., ASICS Corp., and Renfro Corporation.
Global Socks Market: By Geography
Rest of Europe
Rest of Asia Pacific
Rest of the World
Global Socks Market: By Products
Global Socks Market: By Materials Used
Waterproof Breathable membrane
Global Socks Market: By Gender
The report provides a cross-sectional analysis of all the above segments with respect to the following regions:
Rest of the World (RoW)
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