The latest research study released by Transparency Market Research on “Socks Market Forecast to 2022-2031 ″ research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the Socks industry, as well as predicted future growth, technological advancements, investment prospects, market economics, and financial data.
Socks market is estimated to attain a valuation of US$ 81.6 Mn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 5.9% during the forecast period, 2022-2031
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The global socks market has been growing consistently due to the presence of various local as well as international players operating in the global market. Increased use of socks during gym training and outdoor sports activities is projected to propel the demand for socks during the forecast period.
Prominent players in the socks market are also trying to expand their geographical reach and cater to a wider range of consumers by providing products through various distribution channels.
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High Demand for Athletic Socks to Propel Market
In terms of type, the global business for socks has been classified into athletics socks, trouser socks, casual socks, multiple toe socks, and others. The athletic socks segment is expected to rise at a notable growth rate during the forecast period due to increase in number of people participating in any type of athletic sports globally.
Moreover, the demand for casual socks, trouser socks, and ankle socks is also expected to rise in significantly, as they are more often worn by people to keep the feet warm during winter and also help reduce feet odor, which is caused by bacteria that tend to live in moist area such as the feet or shoes.
Competitor Analysis:
The significant players operating in the global Socks market are
Adidas A.G, Asics Corporation, Balega, Drymax Technologies Inc., Hanesbrands Inc, Nike Inc, Puma S.E, Renfro Corporation, THORLO, Inc, Under Armour, Inc.
Market Segmentation –
- Type
- Athletic Socks
- Specialty Socks
- Trouser Socks
- Casual Socks
- Multiple Toe Socks
- Others (Ankle socks, No show socks, Toe Cover, etc.)
- Material
- Nylon
- Cotton
- Wool
- Others(Polyester, Waterproof Breathable Membrane
- End-user
- Men
- Women
- Kids
- Distribution Channel
- Online
- Company Owned websites
- E – Commerce websites
- Offline
- Brand Stores
- Supermarket/Hypermarket
- Other Retail Stores
- Online
This Report lets you identify the opportunities in Socks Market by means of a region:
- North America (the United States, Canada, and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
- South America (Brazil etc.) The Middle East and Africa (North Africa and GCC Countries)
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Key Developments in Global Market:
On May 5, 2022, Adidas AG announced the long-term partnership with Foot Locker Inc., this partnership has been made to broaden the companies selection of footwear and apparel for the sport and sneaker communities
In January 2020, Renewed socks brand Happy Socks recently partnered with fashion icon Johnny Ramone for dynamic new collection
On June 9, 2021, Renfo, a leading manufacturer and marketer of socks, announced the ownership of private holding company Renco Group inc. This acquisition has been made keeping in mind the future growth of the Renfo brand.
Research Methodology
The report has its roots definitely set in thorough strategies provided by proficient data analysts. The research methodology involves the collection of information by analysts only to have them studied and filtered thoroughly in an attempt to provide significant predictions about the market over the review period. The research process further includes interviews with leading market influencers, which makes the primary research relevant and practical. The secondary method gives a direct peek into the demand and supply connection. The market methodologies adopted in the report offer precise data analysis and provide a tour of the entire market. Both primary and secondary approaches to data collection have been used. In addition to these, publicly available sources such as annual reports, and white papers have been used by data analysts for an insightful understanding of the market.
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