Socks Market Size, Share & Trends Analysis Report By Product (Athletic, Casual), By Raw Material (Cotton, Nylon, Wool), By End-user (Men, Women, Children), By Distribution Channel (Supermarket & Hypermarket, Online), By Region, And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the socks market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for socks market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of socks market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Socks Market Categorization:

The socks market was categorized into five segments, namely product (Casual, Formal, Athletic), raw material (Cotton, Nylon, Wool), end-user (Men, Women, Children), distribution channel (Hypermarkets and Supermarket, Convenience Store, Online), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The socks market was segmented into product, raw material, end-user, distribution channel, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The socks market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into nineteen countries, namely, the U.S, Canada, Mexico, Germany, the UK, France, Italy, Spain, China, India, Japan, South Korea, Australia & New Zealand, Brazil, Argentina, South Africa, UAE, Saudi Arabia, Kenya.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Socks market companies & financials:

The socks market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Nike Inc. - The company is one of the leading suppliers of apparel and athletic & sports products, including footwear, equipment, and accessories for men, women, and kids. The company offers a wide range of products under various brands, including Nike Pro, Nike+, Nike Golf, Nike Blazers, Foamposite, Air Jordan, Air Force 1, Air Max, Nike CR7, Nike Dunk, and Nike Skateboarding. Its subsidiary, Converse Inc., designs, markets, and distributes casual footwear, apparel, and accessories. The company has retail locations in more than 45 countries, such as the U.S., India, Argentina, Egypt, South Africa, Australia, and Saudi Arabia, and has approximately 1,041 stores worldwide.

• PUMA SE - The company designs, markets, and distributes athletic and casual footwear, apparel, and accessories for men, women, and children. The company offers a wide range of products for football, basketball, motorsports, running, training & fitness, and golf. The company sponsors many football clubs, including Manchester City F.C., Olympique de Marseille, Borussia Dortmund, Valencia CF, Borussia Mönchengladbach, Crystal Palace F.C., Newcastle United F.C., Sociedade Esportiva Palmeiras, AC Milan, and Bengaluru FC. PUMA owns two brands—Stitchd, which develops, produces, and distributes bodywear and socks for PUMA, and COBRA PUMA GOLF, which provides shoes, apparel, and clubs. The company has retail locations in more than 45 countries, including the U.S., India, Argentina, Egypt, South Africa, Australia, and Saudi Arabia, and has more than 3000 stores worldwide.

• Adidas AG - It is a multinational corporate brand that manufactures, designs, retails, and markets shoes, clothing, and accessories. It is the second-largest sportswear manufacturer in the world. The sportswear is segmented according to different sports categories such as basketball, football, cricket, gymnastics, running, tennis, kabaddi, baseball, lacrosse, and running. It offers a wide range of products available in categories, such as shoes, clothing, and accessories for every segment. It has a wide brand portfolio, including Originals, Stella McCartney, Neo, and Porsche Sport. The company has retail locations in countries such as the U.K., the U.S., India, Italy, France, Germany, and Australia. The company has 1,333 concept stores, 1,075 factory outlets, and 125 concession corners worldwide.

• Asics Corporation - The company, along with its subsidiaries, manufactures, markets, and retails footwear and sports equipment designed for a wide range of sports, such as volleyball, running, golf, wrestling, and track & field. The company’s subsidiaries include ASICS Tiger Corporation, Runkeeper, ASICS Sports Corporation, ASICS Tiger Oceana Pty, ASICS Tiger do Brasil Ltda., ASICS Europe B.V., and Haglöfs. These subsidiaries cater to different locations with a wide product portfolio, including training shoes, accessories such as socks, and apparel such as sports bras, t-shirts, and tights. The company has a global presence in countries such as the U.S., Canada, India, Mexico, China, Germany, and the UK.

• Renfro Corporation - The company is engaged in the manufacturing, designing, selling, and merchandising of legwear products such as branded and private-label socks. The company has an extensive brand portfolio, including New Balance, Copper Sole, Dr. Scholl’s, K. Bell, Hot Sox, Ralph Lauren/Lauren Polo, Fruit of the Loom, Wrangler, and Carhartt. The company uses copper technology to manufacture anti-microbial socks. Retailers like Walmart, Kmart, Macy's, Costco, J.C. Penney, Sears, and Target are part of the company's extensive global distribution network, which also includes stores in countries like the U.S., Canada, Mexico, Japan, and the Netherlands.

• THORLO, Inc. - The company manufactures, retails, and markets padded and low-friction fiber socks. The company's brands include Thorlos, Experia, Health Padds, Smiles, and Medds. The company offers a wide range of products for activities such as basketball, running, golf, and hiking, as well as casual socks, work socks, and diabetic socks. The company operates worldwide in countries such as the UK, Germany, France, India, the Netherlands, and Japan. A majority of its retail locations are in North America, primarily in the U.S.

• HanesBrands Inc. - The company, along with its owned brands, is a global leader in the manufacturing, designing, selling, and marketing of everyday basic apparel, innerwear, outwear, and activewear under brands in Europe, the Americas, Asia, South Africa, and Australia. The company has an extensive brand portfolio, including Zorba, Duofold, Playtex, Celebrity, Daisyfresh, L'eggs, Hanes Hosiery, Barely There, Rinbros, C9 by Champion, Wonderbra, Dim, Champion, Airé, Beefy-T, Bali, Cacharel, Tagless, One Hanes Places, Maidenform, Ritmo, J. E. Morgan, Sheer Energy, Silk Reflections, Sol, Sol y Oro, Just My Size, and Hanes. The company has a wide distribution network worldwide, with retailers, such as Walmart, Kmart, Macy’s, Costco, J.C. Penney, Sears, Belk, Kohl’s, and Target

• Balega - The company manufactures performance running socks. It has nine product lines: Zulu, Kids, Women's Running, Compression, Hidden, Minimalist Running, Woolen Running, Soft Tread, and Cushioned Performance. Its socks are made from extra fine yarn on high needle count machines to provide a protective and thick cushioning. Its Drynamix moisture-wicking fibers help keep the feet dry and cool. Balega is a subsidiary brand of Implus Footcare, LLC, which is headquartered in North Carolina, U.S. The organization is home to 18 active lifestyle accessories brands. Implus sells its products to more than 60,000 retail outlets in more than 60 countries around the world. The in-house brands operate under the following segments: Yaktrax, Balega, SKLZ, TriggerPoint, RockTape, Harbinger, Sof Sole, and Spenco.

• Drymax Technologies Inc. - All of the company’s products are manufactured in the U.S. The products are proven to keep feet up to 25 times drier than traditional wicking socks, which helps reduce blisters. Drymax technology fibers are solution-dyed and tend not to bleed or fade easily. This dye process requires no additional energy and creates no dye wastewater. The products also use filament yarns to help the socks last longer, which makes them more sustainable. These fibers are 21% lighter than nylon, 22% lighter than acrylic, and 42% lighter than cotton. Drymax fibers reduce sock weight, which helps runners save energy. The Drymax Cold Weather Running socks help keep the feet warm in cold weather.

• Under Armour Inc. - It is a manufacturer, designer, retailer, and marketer of branded performance footwear, sports & casual apparel, and accessories for men, women, and youth. The company offers a wide range of products in the apparel category, such as compression, fitted, and loose tanks. It also offers a footwear range for running, basketball, sports, training, and outdoor activities. In addition, the company offers accessories, such as socks, bags, and gloves. It also offers digital fitness subscriptions and digital advertising through Endomondo, MyFitnessPal, and MapMyFitness platforms.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Socks Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2023, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Socks Market Report Assumptions:

• The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.