(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 30, 2024 (GLOBE NEWSWIRE) -- The "Socks - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Socks was estimated at US$60.1 Billion in 2023 and is projected to reach US$95.1 Billion by 2030, growing at a CAGR of 6.8% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
How Have Consumer Preferences and Lifestyle Trends Influenced Sock Design?
Consumer preferences have played a significant role in shaping sock design and innovation, reflecting broader lifestyle trends and the growing importance of self-expression through fashion. One of the most prominent shifts in recent years has been the move toward athleisure, which has led to a surge in demand for performance socks that are not only functional but also fashionable. Brands are focusing on creating socks that seamlessly blend into the athleisure wardrobe, combining technical features like arch support, moisture management, and blister prevention with stylish designs and colors. This trend has also pushed the adoption of advanced materials, such as merino wool for its temperature-regulating properties and bamboo fibers for their natural antibacterial attributes.
Simultaneously, sustainability is becoming a key factor influencing consumer choices. Many buyers are now seeking out eco-friendly socks made from organic cotton, recycled polyester, or biodegradable materials, prompting companies to adopt greener production practices and transparent sourcing strategies. The rise of direct-to-consumer brands has also disrupted the traditional sock market by offering high-quality, stylish socks at competitive prices, often accompanied by subscription models that appeal to convenience-seeking customers.
Another notable trend is the increasing popularity of socks as statement pieces, particularly among younger consumers. Social media platforms like Instagram and TikTok have played a significant role in this shift, as influencers and fashion-forward individuals use socks to add a pop of color or a playful element to their outfits.
What's Fueling the Growth of the Socks Market?
The growth in the socks market is driven by several factors, reflecting changing consumer lifestyles, innovations in materials, and advancements in production technology.
First and foremost, the increasing emphasis on health and wellness has boosted demand for specialized socks, such as compression socks for enhanced blood circulation, athletic socks with advanced cushioning and support, and diabetic socks designed to reduce pressure points and improve foot health. This focus on functionality has expanded the scope of the socks market beyond basic apparel, turning it into a segment that addresses specific health and performance needs.
Secondly, the athleisure trend has been a major growth driver, blurring the lines between athletic and casual wear and pushing consumers to seek stylish yet functional socks that complement their active lifestyles. The rise of gym-to-street fashion has made performance socks a must-have, not just for sports but as part of everyday wardrobes.
Thirdly, advancements in fabric technology, such as the development of moisture-wicking synthetic fibers, smart textiles that regulate temperature, and anti-blister yarns, have created high-tech products that appeal to both professional athletes and casual wearers. These innovations not only enhance the utility of socks but also elevate their perceived value, justifying premium pricing.
Additionally, sustainability is becoming a critical factor in driving market growth. Consumers are increasingly demanding eco-friendly options, and companies are responding by incorporating recycled materials, adopting ethical manufacturing practices, and offering socks that are both stylish and sustainable.
Finally, the growth of e-commerce and digital marketing has made it easier for niche sock brands to reach global audiences. Online platforms enable direct-to-consumer sales, personalized recommendations, and convenient subscription models, which are particularly attractive to younger, tech-savvy consumers.
This combination of health-consciousness, fashion trends, technological innovation, and the digital shift is driving significant growth and diversification in the socks market, ensuring its continued expansion in both traditional and emerging segments.
Key Insights:
Market Growth: Understand the significant growth trajectory of the Casual Socks segment, which is expected to reach US$50.2 Billion by 2030 with a CAGR of a 6.5%. The Formal Socks segment is also set to grow at 6.8% CAGR over the analysis period. Regional Analysis: Gain insights into the U.S. market, which was estimated at $15.6 Billion in 2023, and China, forecasted to grow at an impressive 10.4% CAGR to reach $23.0 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030. In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa. Company Profiles: Coverage of major players in the Socks market such as Adidas A.G., Asics Corporation, Balega, Drymax Technologies Inc., Hanesbrands Inc. and more. Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 223 companies featured in this Socks market report include:
Adidas A.G. Asics Corporation Balega Drymax Technologies Inc. Hanesbrands Inc. Nike Inc. Puma S.E. Renfro Corporation THORLO, Inc. Under Armour, Inc.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 184 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $60.1 Billion |
| Forecasted Market Value (USD) by 2030 | $95.1 Billion |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
MARKET OVERVIEW
Influencer Market Insights Global Economic Update Socks - Global Key Competitors Percentage Market Share in 2024 (E) Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
Growing Consumer Demand for Comfort and Everyday Essentials Propels Growth in the Socks Market Increasing Popularity of Athleisure Expands Addressable Market for Performance and Sports Socks Rising Focus on Sustainable and Eco-Friendly Materials Drives Demand for Organic Cotton and Recycled Fiber Socks Advances in Moisture-Wicking and Antimicrobial Technologies Propel Innovation in High-Performance Socks Surge in Online Retail and Direct-to-Consumer Sales Channels Strengthens the Business Case for Digital Socks Sales Increasing Focus on Foot Health and Wellness Drives Adoption of Compression and Diabetic Socks Expansion of Fashion-Forward and Statement Socks - Here`s How It Spurs Demand for Bold Colors and Patterns Advances in Smart Fabric Technologies Propel Growth in Socks with Temperature Regulation and Health Monitoring Features Growing Interest in Specialty Socks for Outdoor Activities Expands Market Opportunity in Hiking, Skiing, and Running Segments Increasing Adoption of Bamboo and Merino Wool Socks - Here`s How It Drives Growth in Premium and Natural Fiber Socks Surge in Demand for Compression Socks in Travel and Medical Markets Accelerates Adoption of Therapeutic Socks
For more information about this report visit
About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
CONTACT:
CONTACT:
Laura Wood,Senior Press Manager
...
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
MENAFN30102024004107003653ID1108832655
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.