Socks Market

Socks Market Size:

The global socks market size reached US$ 2.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 4.3 Billion by 2032, exhibiting a growth rate (CAGR) of 4.45% during 2024-2032. The market is experiencing robust growth, driven by the rising health and wellness awareness among consumers, expanding e-commerce penetration across the globe, increasing fashion consciousness and the rise of social media platforms, rapid technological advancements, and a growing emphasis on sustainability.

Socks Market Analysis:

• Major Market Drivers: The expanding health and wellness consciousness has greatly raised the demand for socks, which are utilized for a variety of physical activities. Furthermore, the increased fashion consciousness among customers, particularly the younger population, as well as the development of e-commerce platforms that make socks more accessible, are driving the market growth.
• Key Market Trends: Technological improvements in materials and manufacturing processes have resulted in the creation of high-performance socks, which is increasing the socks market revenue. Furthermore, the heightened emphasis on sustainability as producers utilize eco-friendly materials, along with the growing interest in partnerships with fashion designers, celebrities, and influencers, is boosting the market attractiveness.
• Geographical Trends: The Asia Pacific region is dominating this industry owing to its huge population, rising disposable incomes, and strong industrial capabilities. Other regions are also experiencing development as a result of the increased use of e-commerce platforms and a shift in fashion trends that favor the incorporation of socks in casual and sporting activities.
• Competitive Landscape: Some of the major market players in the socks industry include Adidas AG, ASICS Corporation, Drymax Technologies Inc., Hanesbrands Inc, Implus Footcare LLC, Nike Inc, Puma SE, Renfro Brands, Thorlo, Under Armour Inc., among many others.
• Challenges and Opportunities: The market faces several problems, such as fierce competition, fluctuating raw material prices, and the need for ongoing innovation to match changing consumer tastes. However, opportunities exist in expanding product ranges to include sustainable and eco-friendly options, utilizing digital platforms for more consumer engagement, and entering new markets through strategic partnerships and collaborations.
   

Socks Market Trends:

Growing Awareness about Health and Wellness

The rise in health and wellness awareness is a major driver that is positively impacting the socks market demand. As more individuals adopt active lifestyles and participate in physical activities such as running, hiking, gym workouts, and sports, the demand for socks keeps surging. For instance, a total of 242 million people in the United States, which is nearly 80% of all Americans 6 years and older, participated in at least one sports or fitness activity in 2023. That is a 2.2% hike from 2022. Also, the number of Americans who participated in physical activity has increased every single year for ten years, growing by 5 million in 2023. These activities necessitate the use of socks that are designed to better performance, provide comfort, and prevent injuries.

Emergence of the E-commerce Sector

E-commerce platforms have majorly impacted the market for socks by making a vast range of products accessible to consumers across the globe. Online shopping offers convenience, variety, and the ability to compare prices and reviews, which are significant advantages for consumers. Additionally, there has been an accelerated shift towards online shopping as consumers prefer to purchase socks from the safety and comfort of their homes. In 2022, 91% of people aged 16 to 74 in the European Union (EU) had used the internet, 75% of whom had bought or ordered goods or services for private use. The most common online purchases of goods were clothes including socks, shoes or accessories. Also, in India, the e-commerce market is expected to reach US$ 350 billion by 2030. It experienced a 21.5% growth in 2022, with a value of US$ 74.8 billion.

Rising Fashion Consciousness among Consumers

There has been a rise in fashion consciousness among consumers, which is another factor that is positively affecting the socks market trends. In recent years, socks have evolved from being mere functional accessories to fashion statements that reflect personal style. This shift is majorly visible in the younger demographic who are incorporating bold and vibrant socks into their everyday and special occasion outfits. Additionally, the rise of social media platforms has fueled this trend by showcasing the versatility of socks as an addition to various looks. As per the Pew Research Center (PRC), roughly eight in ten U.S. adults, who account for 83% of users, report using a video-based social media platform. Most Americans, which sum up to 68%, say that they use Facebook, and approximately half of U.S. adults (47%) say they use Instagram. Brands are increasingly capitalizing on this trend by presenting a wide array of innovative and stylish options for users through these platforms.

Socks Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product, material, application, and distribution channel.

Breakup by Product:

• Casual
• Formal
• Athletic
• Others
   

Casual accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the product. This includes casual, formal, athletic, and others. According to the report, casual represented the largest segment.

Based on the socks market report and trends, the casual segment represented the largest share, driven by its widespread appeal and versatility. Casual socks are designed for everyday wear, providing comfort and style for a variety of settings, such as home and office environments. Moreover, they feature a blend of cotton, polyester, and spandex to ensure breathability, durability, and a comfortable fit. Along with this, the availability of a broad range of designs, patterns, and colors that cater to diverse consumer tastes is promoting the socks market growth. Additionally, the rise in remote working, boosting the demand for comfortable and stylish casual socks, is solidifying the market growth.

Breakup by Material:

• Nylon
• Cotton
• Polyester
• Wool
• Waterproof Breathable Membrane
• Others
   

Cotton holds the largest share of the industry

A detailed breakup and analysis of the market based on the material have also been provided in the report. This includes nylon, cotton, polyester, wool, waterproof breathable membrane, and others. According to the report, cotton accounted for the largest market share.

As per the socks market outlook and overview, cotton socks dominated the market, driven by the material's natural comfort, breathability, and versatility. They are highly favored for their softness, moisture absorption, and hypoallergenic properties, making them suitable for everyday wear across various climates and activities. Moreover, the widespread availability and affordability of cotton, allowing manufacturers to offer a broad range of designs and styles at competitive prices, is bolstering the market growth. Additionally, the increasing consumer preference for natural and sustainable fibers, enhancing the demand for cotton socks, as they align with the growing emphasis on eco-friendly and health-conscious choices, is fueling the market growth.

Breakup by Application:

• Men
• Women
• Children
   

Men represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the application. This includes men, women, and children. According to the report, men represented the largest segment.

The men’s segment represented the largest share of this market, driven by consistent demand for functional and fashion-oriented products among men. Men’s socks cater to a wide range of applications, such as formal and business settings, along with casual and athletic activities. Moreover, they are characterized by a diverse selection of materials, including cotton, wool, and synthetic blends, that are designed to offer comfort, durability, and performance. Additionally, the growing trend of athleisure and the increasing participation of men in sports and fitness activities have amplified the demand for specialized socks such as sports, compression, and hiking socks. Besides this, rapid innovations in design, such as moisture-wicking fabrics, cushioned soles, and stylish patterns, are boosting business opportunities in the socks market.

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Convenience Stores
• Online Stores
• Others
   

Supermarkets and hypermarkets exhibit a clear dominance in the market 

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes supermarkets and hypermarkets, convenience stores, online stores, and others. According to the report, supermarkets and hypermarkets accounted for the largest market share.

Supermarkets and hypermarkets constituted the largest segment in the market due to their widespread accessibility, diverse product range, and the convenience they offer to consumers. Moreover, they provide a comprehensive shopping experience, allowing customers to purchase socks along with their regular grocery and household items. Besides this, the ability to physically examine products, benefits from promotional discounts, and access to a variety of brands and styles under one roof are enhancing the socks market size. Furthermore, the strategic placement of these products in high-traffic areas within stores to increase impulse buying is fueling the market growth.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific leads the market, accounting for the largest socks market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific represents the largest regional market for socks.

The Asia Pacific region accounted for the largest market share, driven by its substantial population base, rising disposable incomes, and increasing fashion consciousness. Moreover, the rapid urbanization and the growing middle-class population, boosting the demand for basic and specialized socks, is catalyzing the market growth. Additionally, the strong manufacturing capabilities and the availability of affordable raw materials in the region that has placed it as a key production hub are positively impacting the socks market share. Besides this, the rise of e-commerce platforms and the proliferation of retail outlets that enhance accessibility and availability of a wide variety of socks are fueling the market growth.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the socks industry include Adidas AG, ASICS Corporation, Drymax Technologies Inc., Hanesbrands Inc, Implus Footcare LLC, Nike Inc, Puma SE, Renfro Brands, Thorlo, Under Armour Inc., etc.
  
  (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
   
• The major socks companies are engaging in various strategic initiatives to strengthen their market positions and meet evolving consumer demands. They are focusing on product innovation by incorporating advanced materials and technologies, such as moisture-wicking fabrics, compression features, and seamless construction to enhance comfort and performance. Moreover, some players are expanding their product lines to include eco-friendly options by using sustainable materials like organic cotton and recycled fibers to appeal to environmentally conscious consumers. Additionally, major players are leveraging digital platforms and e-commerce channels to widen their reach and improve customer engagement through personalized marketing and online exclusives.

Socks Market News:

• In December 2023, Under Armour, Inc. opened its first outlet store at the O2 multipurpose indoor arena in London, UK. The store is designed as part of the brand's new Factory House retail concept. This 3,949-square-foot store offers a selection of sportswear, shoes and accessories.
• In December 2023, Nike Inc. partnered with STÜSSY to introduce the Stüssy x Nike Air Flight 89 collection, encompassing a range of hoodies, jackets, tops, sweatpants, and socks. The collection highlighted timeless DRIFIT socks adorned with uncomplicated contrast branding on the sock ribbing.

Socks Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the socks market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global socks market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the socks industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.