The global socks market size was valued at USD 44.7 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 6.4% from 2023 to 2030. The increasing prominence of maintaining formal clothing amongst white-collar professionals on a universal level is anticipated to play a vital role in boosting market growth. Furthermore, growing spending on health as well as fitness amongst adults is anticipated to prompt the demand for different shoe 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 healthy foot in light of growing occurrences of foot disorders related to diabetes.
Thus, the growing concerns over effects related to foot ulcers amongst diabetic patients are anticipated to endorse the usefulness of innovative sock alternatives as a foot-caring medium over the forecast period. 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. Increasing penetration of corporate offices in emerging economies including China, Bangladesh, India, and Mexico as a result of supportive policies to promote investments at domestic levels is expected to remain a favorable factor for the industry. Increasing demand for footwear other than shoes, such as sandals and slippers, is hindering the growth of the market.
The rising demand for specialized socks along with the increasing awareness about fitness & health in various regions will bring development opportunities for the market. The COVID-19 pandemic has largely impacted the global socks industry, as demand for the product has decreased largely. With movement being stopped to a large extent, socks sales have been drastically impacted. However, top companies in the industry are hopeful; as many are reinventing their product lines and most of them have utilized the lockdown period to innovate their production and retail approach. Furthermore, the increasing penetration of smartphone users in these countries has forced the socks manufacturers to launch their product variants at discounted prices, along with various value-added services including cash-on-delivery services.
This is further expected to drive the global market over the forecast period. 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 products by urban customers is another major factor driving the market. Moreover, the increasing trend of athletic shoes along with athletic celebrity endorsement by top brands is driving the market growth. It has been seen that customers are buying high-quality socks to use during gym training as well as outdoor sports activities.
The casual product segment was the largest and accounted for the largest revenue share of around 53.9% in 2022. Casual socks are comfortable and versatile socks that can be worn in everyday settings. They are usually made from a blend of cotton, wool, or synthetic fibers, and come in a variety of colors and patterns. Some popular types of casual socks are crew socks, ankle socks, and no-show socks. Casual socks can be worn with a variety of outfits, including jeans, shorts, and sneakers.
The athletic segment is expected to witness the second-fastest CAGR of 6.9% from 2023 to 2030. Athletic socks have come a long way from the earlier basic white version. The athletics community is one of the most popular end-users of these socks and the Tour de France was one of the first to opt for no-show socks. Nike offers a range of no-show socks for men & women and these are usually sold in packs of 3 pairs. Similarly, Zukeasox’s men’s no-show socks are available in packs of 6 pairs. The socks are made from non-slip cotton, and have a low cut, an invisible casual ankle liner, and a silicon grip, enhancing user comfort.
The men application segment dominated the market in 2022 and accounted for the maximum share of more than 62.8% of the overall revenue. Men show a higher preference for formal socks as compared to women. Other categories are also bought depending on their personal style and the activities they engage in on a regular basis.
The women application segment is anticipated to have the highest CAGR of 6.9% over the forecast period. The World Federation of the Sporting Goods Industry (WFSGI) states that more female involvement in sports will benefit the sportswear industry. In addition, since 2019, there have been more female runners than males. According to a 2020 BBC report, around 30% of the women in India were engaged in sports. Female involvement in numerous sports is growing, and they are more likely than men to view sports as essential to maintaining their health and well-being.
The hypermarkets and supermarkets segment dominated the market with a share of 56.6% in 2022. Consumers primarily look for product life cycle and price/value factor while purchasing a product and find retail shops the most convenient place to try & check products and accordingly make a buying decision. Moreover, the presence of skilled staff with knowledge of product specialty and other information about product segments is attracting first-time buyers of these products to this channel.
The online distribution channel is anticipated to have the largest CAGR of 7.1% over the forecast period. Consumers prefer online portals and official websites to purchase premium products to gain value-added services, such as convenient return policies, cash on delivery, and integrated & centralized customer services. Consumers are likely to purchase sportswear from e-commerce sites on account of the availability of trending styles at the best prices.
Asia Pacific is expected to expand at the fastest CAGR of 7.4% from 2023 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 market 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.
The market in Europe accounted for more than 29.5% share of the global revenue in 2022. Fast industrial growth along with high disposable income levels fueled by rapid economic growth is projected to boost the market growth in Europe. Moreover, over the last couple of years, new fashion trends and shift in lifestyles, such as a rise in the use of footwear, contributed largely to the Europe socks market. Furthermore, some of the companies are manufacturing customized socks to meet the requirements of sports professionals in this region.
A rising number of celebrity endorsements by popular brands contributes significantly to the growth of the market. For instance, Nike approves many sports professionals to endorse its shoes and socks. In January 2020, Renewed socks brand Happy Socks newly partnered with style icon Jonny Ramone for the 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 Corporation
Skechers USA, Inc.
Hanesbrands Inc.
Under Armour, Inc.
VF Corporation
Jockey International Inc.
Drymax Technologies Inc.
Report Attribute |
Details |
Market size value in 2023 |
USD 47.1 billion |
Revenue forecast in 2030 |
USD 73.6 billion |
Growth rate |
CAGR of 6.4% from 2023 to 2030 |
Base year for estimation |
2022 |
Historical data |
2017 - 2021 |
Forecast period |
2023 - 2030 |
Report updated |
April 2023 |
Quantitative units |
Revenue in USD million/billion, and CAGR from 2023 to 2030 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Product, end-use, distribution channel, region |
Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
Country scope |
U.S.; UK; Germany; China; India; South Africa; Brazil |
Key companies profiled |
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. |
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 |
This report forecasts revenue growth and provides an analysis of the latest trends in each of the subs-segments from 2017 to 2030. For this report, Grand View Research has segmented the global socks market report based on product, end-use, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2017 - 2030)
Casual
Formal
Athletic
End-use Outlook (Revenue, USD Million, 2017 - 2030)
Men
Women
Children
Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)
Hypermarkets and Supermarket
Convenience Store
Online
Regional Outlook (Revenue, USD Million, 2017 - 2030)
North America
U.S.
Europe
UK
Germany
Asia Pacific
China
India
Central & South America
Brazil
Middle East & Africa
South Africa
b. The global socks market size was estimated at USD 44.7 billion in 2022 and is expected to reach USD 47.1 billion in 2023.
b. The global socks market is expected to grow at a compound annual growth rate of 6.4% from 2023 to 2030 to reach USD 73.69 billion by 2030.
b. Asia Pacific dominated the socks market with a share of 37.5% in 2022. This is attributable to Population growth, rising disposable income and urbanization in developing counties including China, Bangladesh, Pakistan, and India.
b. Some key players operating in the socks market include Nike Inc.; Puma S.E.; Adidas A.G.; Asics Corporation; Renfro Corporation; THORLO, Inc.; Hanesbrands Inc.; Balega; Drymax Technologies Inc.; and Under Armour, Inc.
b. Key factors that are driving the socks market growth include the rising importance of maintaining formal attire among white-collar professionals and increasing spending on health and fitness among adults worldwide.
GET A FREE SAMPLE
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
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 certified & member
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.
"The quality of research they have done for us has been excellent."
The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak worldwide. The expected decline in the global sales of clothing, footwear, & accessories is attributable to massive supply chain disruptions across significant export markets, including China and India. However, the industry is likely to recover over the forecast timeframe, given the rising popularity of online/e-commerce sales. From a manufacturing standpoint, the sustainable or ethical fashion trend is expected to favor market growth throughout the forecast timeframe. Luxury apparel is another lucrative space for prospective manufacturers to target, given the mushrooming number of affluent and fashion-conscious consumers across the globe. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.
We value your investment and offer free customization with every report to fulfil your exact research needs.