The global socks market size was valued at USD 42.2 billion in 2018. The rising importance of maintaining formal attire among white-collar professionals on a global level is expected to play a crucial role in expanding the utility of socks. This, in turn, is expected to boost market growth in the coming years.
Furthermore, increasing spending on health and fitness among adults is projected to prompt the demand for various shoe accessories such as sports socks and ankle socks during the workouts in gymnasiums and health clubs. Over the past few years, various health care professionals have increased their spending on publishing various research papers on maintaining the healthy foot in light of increasing occurrences of foot disorders associated with diabetic patients.
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. Increasing penetration 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 the industry.
Furthermore, 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 socks market in the forecast period.
Casual products accounted for a share of 54.3% in 2018. A high ease of incorporation of these products as they can be used with any apparel is expected to remain a favorable factor for the industry. Furthermore, a large number of consumers use casual socks that are made up of polyester and nylon due to their comfortability and easy availability from offline as well as online channels. Key casual socks manufacturers include Mustang Socks & Accessories, Goodfellow & Co, Sock Talk, and Kane Socks Company.
Athletic product is anticipated to expand at the fastest CAGR of 6.7% from 2019 to 2025. These products are preferred among athletes and gym professionals as they are capable to protect blisters and prevent feet from sliding around shoes. New product launches by companies including Nike and Adidas in athletic socks at a global level are expected to remain a key driving force in the next few years.
Men accounted for the largest share of 63.2% in 2018. The products such as patchy and studded products are gradually gaining acceptance among the men's category. This segment is expected to witness growth as a result of the acceptance of the products as accessories to casual and business attire by men. Furthermore, an increasing number of social videos on YouTube and Google+, which provide advice for maintaining excellent grooming appearance, is expected to promote spending on good quality shoe accessories such as socks.
The women segment is expected to expand at the fastest CAGR of 6.7% from 2019 to 2025. As per the report of the World Bank, in 2018, around 40.83% of women are working and the number is increasing at a significant pace. A growing number of women working-class women at a global level is expected to have a positive impact on segment growth.
Hypermarket and supermarket contributed to a 59.0% share of the global revenue in 2018. Consumers prefer to purchase from hypermarkets and supermarkets due to the stock availability of different types of products from various suppliers in a single-buying window. Furthermore, these channels allow consumers to sell the products on high discounts, which attract customers to choose hypermarkets and supermarkets over others.
The online segment is projected to expand at the fastest CAGR of 6.9% from 2019 to 2025 on account of easy product selection and doorstep product delivery services. The penetration rate is quite high in emerging economies such as China and India due to the growing adoption of smartphones.
Asia Pacific is expected to expand at the fastest CAGR of 7.2% from 2019 to 2025. Population growth, rising disposable income, and urbanization in developing counties including China, Bangladesh, Pakistan, and India are expected to have a positive impact on market growth. Additionally, an increasing number of professional sports cricket leagues including Indian Premier League (IPL) and Big Bash League in India and Australia is projected to open new avenues for the domestic players to increase their expenditure on purchasing premium sports accessories including shoes and socks.
The market in North America accounted for 19.8% share of the global revenue in 2018. A strong foothold of key industry participants such as Adidas A.G., Nike Inc., and Puma S.E. in the retail and wholesale networks of the U.S. and Canada are expected to ensure the continuous product access to buyers. Furthermore, some of the companies are manufacturing customized socks to meet the requirement of sports professionals.
Key industry participants 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. A large number of celebrity endorsements by popular brands has contributed significantly to the growth of the market. For instance, Nike endorses many sports professionals to promote its shoe and socks products.
Product innovation is expected to remain a critical success factor shortly. In 2018, Kickstarter, PBC has launched 10 abstract designed socks under the brand, Say Possible. Also, in May 2018, United Legwear & Apparel Co., LLC, has launched 150 styles of men and women socks in their online portals.
Report Attribute |
Details |
Market size value in 2020 |
USD 47.22 billion |
Revenue forecast in 2025 |
USD 63.51 billion |
Growth Rate |
CAGR of 6.0% from 2019 to 2025 |
Base year for estimation |
2018 |
Historical data |
2015 - 2017 |
Forecast period |
2019 - 2025 |
Quantitative units |
Revenue in USD billion and CAGR from 2019 to 2025 |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors and trends |
Segments covered |
Product, application, distribution channel, region |
Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
Country scope |
U.S.; Germany; U.K.; China; India; Brazil; South Africa |
Key companies profiled |
Nike Inc.; Puma S.E.; Adidas A.G.; Asics Corporation; Renfro Corporation; THORLO, Inc.; Hanesbrands Inc.; Balega; Drymax Technologies Inc.; Under Armour, 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 at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For this study, Grand View Research has segmented the global socks market report based on the product, application, distribution channel, and region:
Product Outlook (Revenue, USD Billion, 2015 - 2025)
Casual
Formal
Athletic
Application Outlook (Revenue, USD Billion, 2015 - 2025)
Men
Women
Children
Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
Hypermarket & Supermarket
Convenience Store
Online
Regional Outlook (Revenue, USD Billion, 2015 - 2025)
North America
The U.S.
Europe
Germany
U.K.
Asia Pacific
China
India
Central & South America
Brazil
Middle East & Africa
South Africa
b. The global socks market size was estimated at USD 44.61 billion in 2019 and is expected to reach USD 47.22 billion in 2020.
b. The global socks market is expected to grow at a compound annual growth rate of 6.0% from 2019 to 2025 to reach USD 63.51 billion by 2025.
b. Asia Pacific dominated the socks market with a share of 37.4% in 2019. This is attributable to rising disposable incomes, and urbanization in emerging economies, 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 rising importance of maintaining formal attire among white-collar professionals and increasing spending on health and fitness among adults worldwide.
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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.