Transparency
Market Research has studied the global socks market in detail in
its newly published report. The featured report, titled ‘Socks
Market - Global Industry Analysis, Size, Share, Growth,
Trends and Forecast 2015 - 2023,’ states that the market is
expected to progress from US$5.6 bn in 2014 to US$11.6 bn by 2023. As
per the report, the global socks market is expected to exhibit an
8.50% CAGR during the period between 2015 and 2021. Considerable
growth in the retail sector, the constantly growing men’s apparel
industry, and improving fashion trends are the factors responsible
for the growth of the global socks market.
Socks, one of the
common consumer goods, are available in the global market in many
materials and varieties. In recent years, due to the introduction of
luxury socks, they have been considered more as fashion products than
common consumer goods. Even though socks account for a smaller share
in the global apparel market, their demand is expected to increase
considerably in the years to come. The rising boom in the global
socks market has allowed new companies to introduce their products.
The increasing per capita income in various countries has enabled the
global socks market to become the fastest growing market in the
global apparel market.
The report divides
the global socks market on the basis of region, gender, product, and
material used. On the basis of product, the global socks market is
classified into specialty socks, athletic socks, trouser socks,
casual socks, women’s socks, and others. The demand for athletic
socks is expected to be the highest in the global market due to the
increasing demand for athletic shoes. Going forward, the increasing
pool of consumers participating in sports is expected to boost the
athletic socks segment.
Advancements in
product development and commercialization have moved socks into one
of the most trending fashion product categories. The introduction of
luxury socks by local companies is expected to drive the socks market
in the developing nations. By region, the global socks market is
divided into Asia Pacific, Europe, North America, and Rest of the
World. An improving retail network and the introduction of novelty
socks will drive the Asia Pacific socks market in the years to come.
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The use of various
new types of fibers to manufacture socks is a rising trend in the
global market. Cost pressures are driving many manufacturers to
manufacture synthetic fiber socks. Nylon, cotton, wool, waterproof
breathable membrane, and polyester are some of the other materials
used to manufacture socks. The demand for cotton and wool socks will
continue to grow in the coming few years. Based on gender, the global
socks market is classified into men, women, and kids. In 2014, the
global socks market was led by the men’s segment, propelled by
extensive use and changing lifestyles of male consumers.
The global socks
market is highly fragmented with many small companies and large
players operating in different regions. Puma SE, Adidas Group, Cole
and Parker Co., and Nike, Inc. are some of the leading companies
operating in the global socks market. The market is expected to
witness mergers and partnerships between leading players and new
entrants in the near future.
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Market Research employs rigorous primary and secondary research
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business reports.
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