GVR Report cover Socks Market Size, Share & Trends Report

Socks Market Size, Share & Trends Analysis Report By Material (Polyester, Cotton, Wool, Nylon), By Style (Knee-high, Ankle-length, Low-cut), By Product (Plain-, Rib-knitted), By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-3-68038-347-8
  • Number of Pages: 80
  • Format: Electronic (PDF)

Report Overview

The global socks market size was valued at USD 42.68 billion in 2021 and is estimated to expand at a compound annual growth rate (CAGR) of 6.3% from 2022 to 2030. The increasing trend of formal clothing among white-collar professionals is anticipated to play a vital role in boosting product demand. This, in turn, is estimated to increase market growth over the forecast period. Furthermore, growing spending on health, as well as fitness, is anticipated to fuel the demand for different footwear accessories that include sports socks and ankle socks. Over the last couple of years, different healthcare professionals have increased their spending on publishing several research papers on keeping the feet healthy in light of growing occurrences of foot disorders related to diabetic patients.

U.S. socks market size, by style, 2020 - 2030 (USD Billion)

As a result, some of the companies including Dr. Oxyn and Podolite have launched customized diabetic socks to reduce the risk of foot ulcers, which act as a root cause of infections, or possible amputation. The presence of corporate offices in emerging economies including China, Bangladesh, India, and Mexico, as a result of supportive policies to promote investments at a domestic level, is expected to remain a favorable factor for industry growth. However, increasing demand for footwear, such as sandals and slippers, is hindering the growth of this market. Rising demand for specialized socks along with the increasing awareness about fitness & health in various regions will create development opportunities for the industry over the forecast period.

Industry development is likely to be higher in emerging regions due to the increasing penetration of corporate offices, which creates creating ample growth opportunities for the market. The COVID-19 pandemic has largely impacted the industry, as the product demand was decreased globally. With the lockdown and movement restrictions, socks sales were drastically impacted. However, top players reinvented their product lines and most of them utilized the lockdown period to innovate their production and retail approach.

The increasing penetration of smartphones has forced manufacturers to launch their product variants online at discounted prices with various value-added services like cash-on-delivery. This is further expected to drive the global industry. In addition, many governments all over the globe are promoting adventurous sports tourism, such as camping, which is also contributing to the market growth. The increasing necessity of multiple footwear by urban customers is working as a major factor boosting market growth. Furthermore, the increasing trend of athletic shoes due to celebrity endorsements by top brands is driving the market growth. It has been seen that customers are buying high-quality socks for daily workout sessions as well as for outdoor sports activities.

Product Insights

On the basis of products, the global industry has been further categorized into plain-knitted, rib-knitted, and terry-knitted. The plain-knitted product segment dominated the global industry in 2021 and accounted for the maximum share of more than 58.40% of the overall revenue. The segment is projected to expand further at the fastest growth rate maintaining its leading position throughout the forecast period. Plain-knitted is a widely used method for sock manufacturing as it helps manufacture flatter and lighter products than other knit types.

Global socks market share, by product, 2021 (%)

Plain knitting is a very popular technique with many knitted fabrics that customers wear today being produced from plain knitting or a mixture of plain as well as a purl stitch. Due to the above-mention factors, the plain-knitted product type segment generated the maximum revenues in the industry. The rib-knitted product segment is expected to account for the second-highest revenue share by 2030 growing at the second-fastest CAGR of 6.1% during the forecast years. Rib-knit products are lightweight, and not stretchy, and edges easily curl up when pulled. On account of these factors, the use of the rib-knit method is increasing in the manufacturing of socks globally. Moreover, rib knits are widely used in kids’ wear manufacturing.

Material Insights

On the basis of materials, the global industry has been further categorized into cotton, wool, nylon, polyester, and others. The cotton material segment dominated the global industry in 2021 and accounted for the maximum share of more than 44.95% of the overall revenue. The segment is projected to expand further at the fastest growth rate and maintain its leading position in the global industry throughout the forecast period. Cotton is a natural fiber free from chemical additives, which makes it biodegradable as well as safe for the environment, thus it has a high demand in the global industry. Cotton socks are soft for the feet and provide extra comfort than other types of materials.

Moreover, cotton socks are a good choice for individuals with sensitive skin as it does not have harmful chemicals. On the other hand, the polyester material segment is estimated to register the fastest growth rate during the forecast period. The wool material segment is expected to register the second-fastest growth rate over the forecast period. Merino wool has outstanding moisture-wicking properties and keeps the skin dry during workouts. The fabric is lighter, porous, long-lasting, and highly workable than its other counterparts. Thus, the wool segment is expected to witness significant growth over the forecast period.

Style Insights

On the basis of styles, the global industry has been further segmented into the ankle, no-show (low-cut socks), crew, and knee-high. The no-show or low-cut socks style segment is expected to register the fastest growth rate of more than 6.5% during the forecast period. The no-show socks are more diverse than other types of socks as they are manufactured in such a way that they feel invisible once they are worn. These types of socks are most famous among sportspersons. The no-show socks have gained tremendous popularity since the time of the tour de France. At present, it is largely used as a fashion symbol.

The ankle-length socks style segment dominated the global industry in 2021 and accounted for the largest share of the overall revenue. The segment is likely to remain dominant throughout the forecast period. Furthermore, a rise in the variety of ankle-length socks in the marketplace will support the segment's development. They are a vital part of any wardrobe. Lots of women as well as men prefer this style as it provides certain elegance. It can be worn with various types of footwear, such as sandals, sliders, and ankle boots, and helps prevent blisters as well as discomfort while walking.

Regional Insights

Asia Pacific is expected to register the fastest CAGR of 6.5% from 2022 to 2030. Population growth, rising disposable income, and rapid urbanization in developing counties including China, Bangladesh, Pakistan, and India are expected to have a positive impact on the region’s growth. In addition, an increasing number of professional sports cricket leagues including the Indian Premier League (IPL) and Big Bash League in India and Australia are projected to open new avenues for domestic players to increase their expenditure on purchasing premium sports accessories including shoes and socks.

Socks Market Trends by Region

The market in Europe accounted for the largest share of the overall revenue in 2021 and is estimated to remain dominant, in terms of revenue share, throughout the forecast period. Rapid industrial growth along with rising disposable income levels fueled by economic growth is projected to boost the market growth in the Europe region. Moreover, over the last couple of years, new fashion trends and shifts in the lifestyles, such as a rise in the use of footwear, contributed largely to the Europe regional market. Furthermore, some of the companies in this region are manufacturing customized socks to meet the requirement of sports professionals.

Key Companies & Market Share Insights

A large number of celebrity endorsements by popular brands has contributed significantly to the growth of the industry. For instance, Nike approves many sports professionals to endorse its shoe as well as socks products. In January 2020, Renewed socks brand, Happy Socks, newly partnered with style icon Jonny Ramone for an active new collection. Product innovation is anticipated to remain a serious success factor in the industry. Some of the prominent players in the global socks market include:

  • Nike Inc.

  • Puma S.E.

  • Adidas A.G.

  • Asics Corp.

  • Skechers USA, Inc.

  • Hanesbrands Inc.

  • Under Armour, Inc.

  • VF Corp.

  • Jockey International Inc.

  • Drymax Technologies Inc.

Socks Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 44.8 Billion

Revenue forecast in 2030

USD 73.7 Billion

Growth rate

CAGR of 6.3% from 2022 to 2030

Base year for estimation

2021

Historical data

2017 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, style, material, region

Regional scope

North America; Europe; Asia Pacific;Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; Australia; South Korea; South Africa; and Brazil

Key companies profiled

Nike Inc.; Puma SE; Adidas AG; Asics Corp.; Skechers USA, Inc.; Hanesbrands Inc.; Under Armour, Inc.; VF Corp.; Jockey International Inc.; Drymax Technologies Inc.

Customization scope

Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Global Socks Market Segmentation

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segment from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global socks market report on the basis of product, material, style, and region:

Global Socks Market Segmentation

  • Product Outlook (Revenue, USD Million, 2017 - 2030)

    • Plain-knitted

    • Rib-knitted

    • Terry knitted

  • Material Outlook (Revenue, USD Million, 2017 - 2030)

    • Cotton

    • Wool

    • Nylon

    • Polyester

    • Other

  • Style Outlook (Revenue, USD Million, 2017 - 2030)

    • Ankle

    • No Show

    • Crew

    • Knee-high

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

      • South Korea

    • Central & South America

      • Brazil

    • Middle East & Africa

      • South Africa

Frequently Asked Questions About This Report

gvr icn

GET A FREE SAMPLE

gvr icn

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

gvr icn

NEED A CUSTOM REPORT?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.

Contact us now to get our best pricing.

esomar icon

ESOMAR certified & member

D&B icon

Leading SME award by D&B

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.

great place to work icon