Global Socks Market accounted for US$ 42.75 billion in 2020 and is estimated to be US$ 76.96 billion by 2030

REFER FROM: https://www.globenewswire.com/en/news-release/2022/02/23/2390522/0/en/Global-Socks-Market-accounted-for-US-42-75-billion-in-2020-and-is-estimated-to-be-US-76-96-billion-by-2030-and-is-anticipated-to-register-a-CAGR-of-6-1-By-PMI.html

Global Socks Market accounted for US$ 42.75 billion in 2020 and is estimated to be US$ 76.96 billion by 2030 and is anticipated to register a CAGR of 6.1%. - By PMI

Global Socks Market, by Product Type (Specialty Socks, Athletic Socks, Trouser Socks, and Casual Socks), by Material (Nylon, Cotton, Polyester, Wool, and Waterproof Breathable Membrane), by End-User (Men, Women, and Kids), by Distribution Channel (Wholesale, Supermarkets and Hypermarkets, and Online Stores), and Region - Global Forecast to 2030

Covina, Feb. 23, 2022 (GLOBE NEWSWIRE) -- The report "Global Socks Market, by Product Type (Specialty Socks, Athletic Socks, Trouser Socks, and Casual Socks), by Material (Nylon, Cotton, Polyester, Wool, and Waterproof Breathable Membrane), by End-User (Men, Women, and Kids), by Distribution Channel (Wholesale, Supermarkets and Hypermarkets, and Online Stores), and Region - Global Forecast to 2030" Global socks market is projected to grow from US$ 42.75 billion in 2020 to US$ 76.96 billion by 2030. The global socks market is expected to register moderate growth over the forecast period. This is attributed to increasing advancements in raw materials composed of features such as water repellant and odder suppressant, coupled with improvisation of manufacturing processes.

Product innovation in socks is expected to create lucrative growth opportunities for new as well as existing players to gain competitive edge.

Key Players Endorsing Brands by Famous Athletes, Spponsoring Football Clubs

Key players are signing sponsorship agreements with major associations of sports events and athletes across the world to increase visiblity and brand awareness among consumers. This has resuled in brand endrosement of popular athlectic brands such as Adidas to advertise their products by famous merican basketball pplayers and football players.

Key Highlights:

• In June 2020, Taboola the world's leading discovery platform, collaborated with comfort-focused apparel brand Bombas to promote its 2020 pride collection, featuring limted-edition socks inspired by the bright LGBTQ+ community.
  
• In Spetember 2020, Under Armour is debuting the UA HOVR Breakthru, the brand's first basketball shoe developed and tailored specifically with the femaile basketball player in mind.
• In November 2020, AMBUSH co-founder Yoon Ahn entered Converse's deep archives and landed on anunanticipated path with second collaboration with Boston-based brand.
• In December 2017, Supersox and Disney India launched an Exclusive Star Wars Socks Series

Key Market Insights from the report:

The global socks market accounted for US$ 42.75 billion in 2020 and is projected to register a moderate CAGR of 6.5% over the forecast period. The market report has been segmented on the basis of product type, material, end-user, distribution channel, and region.

• By product type, the global socks market is segmented into specialty socks, athletic socks, trouser socks, and casual socks
• By material, the global socks market is categorized into nylon, cotton, polyester, wool, and waterproof breathable membrane.
• By end-use, the global socks market is classified into men, women, and kids.
• By distribution channel, the global socks market is divided into wholesale, supermarkets and hypermarkets, and online stores.
• By region, Asia Pacific socks market is accounted for major revenue share of the global socks market and is further anticipated to maintain its dominance over the forecast period, owing to increasing fashion trends among individuals and rising retail sector in countries of the region. The market in Europe expected to account for a second-highest market share in terms of revenue over the forecast period, in 2018.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on "Global Socks Market”, by Product Type (Specialty Socks, Athletic Socks, Trouser Socks, and Casual Socks), by Material (Nylon, Cotton, Polyester, Wool, and Waterproof Breathable Membrane), by End-User (Men, Women, and Kids), by Distribution Channel (Wholesale, Supermarkets and Hypermarkets, and Online Stores), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa)- forecast till 2029

The prominent player operating in the global socks market includes Adidas A.G., Nike Inc., Puma S.E, Renfro Corporation, Asics Corporation, United Legwear & Apparel Co., LLC, Thai Sock Co Ltd, Converse Inc., Supersox and Disney, Under Armour, Inc., Saucony, LLC, Williamson-Dickie Manufacturing Company, LLC, and Darn Tough Vermont.

The fashion retain industry is remarkable for the intense level of competetive rivarly in it. There are a large number of brands with similar product offerings. This makes the competetive rivarly intense. However, some brands also drive loyalty based on features and quality. Brands that have strong brand image are able to charge higer prices. Overall, the competitive rivalry is a strong force in this industry.