In 2018, the size of the worldwide sock market was estimated at USD 42.2 billion. In order to increase the utility of socks, it is anticipated that white-collar workers around the world would place an increasingly high value on preserving formal clothes. In turn, this is anticipated to accelerate market expansion in the upcoming years.
Additionally, it is anticipated that individuals would spend more money on health and fitness, which will increase the demand for various shoe accessories like sports socks and ankle socks when working out at gyms and health clubs. In view of the rise in foot diseases linked to diabetes patients, numerous health care specialists have raised their expenditure on releasing various study papers on keeping the healthy foot over the past few years.
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In 2018, casual products held a share of 54.3%. Since these goods may be utilised with any type of clothing, their high simplicity of inclusion is anticipated to continue to be a positive element for the sector. Additionally, because they are comfortable and readily available through both offline and online channels, many consumers use casual socks made of polyester and nylon. Important producers of casual socks include Kane Socks Company, Goodfellow & Co, Sock Talk, and Mustang Socks & Accessories.
In 2018, men made up the majority (63.2%), of the population. Products with patches and studding are slowly becoming more and more popular among males. Due to men’s acceptance of the products as accessories for casual and professional dress, this market is anticipated to expand. Additionally, it is anticipated that the growing number of social videos on YouTube and Google+ that offer tips for maintaining outstanding grooming appearance will encourage spending on high-quality shoe accessories like socks.
From 2019 to 2025, Asia Pacific is anticipated to experience the quickest CAGR of 7.2%. Urbanization, increased disposable income, and population growth are anticipated to have a beneficial effect on market expansion in developing nations including China, Bangladesh, Pakistan, and India. A growing number of professional cricket leagues, such as the Indian Premier League (IPL) and Big Bash League in Australia and India, are also anticipated to create new opportunities for local players to raise their spending on expensive sports equipment, such as socks and shoes.
Report on the global socks market, broken down by product, application, distribution method, and geographic region:
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Distribution Channel Outlook
- Hypermarket & Supermarket
- Convenience Store
- North America
- The U.S.
- Asia Pacific
- Latin America
- Middle East and Africa