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Sport Socks Market by Product Outlook (Casual, Formal, and Athletic), Material (Cotton, Nylon, Polyester, and Others), Application (Men, Women, and Children), Distribution Channel (Supermarket/ Hypermarket, Convenience Store, Online Retail Stores, and Others), and Key Stakeholders (Manufacturers, Distributors/ Traders/ Wholesalers, Subcomponent Manufacturers, Industry Association, and Downstream Vendors): Global Opportunity Analysis and Industry Forecast, 2020–2027

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Jun 2021 | 385 Views
 
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COVID-19

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Socks are an item of clothing that one wears on feet. It covers the ankle and some part of the calf. And, shoes or other footwear are worn over the socks. Socks are made using different materials like cotton, nylon, polyester, wool (preferred in regions with low temperature to protect the feet from cold and frostbite), and others. Socks are useful in keeping the feet warm, soft, or sweat-free. By providing extra cushioning to the feet, they also help in preventing odor. Socks are available in different shapes, sizes, colors, and patterns in the market.

The commodities such as socks are purchased by the consumers only when they require, and in this case, it becomes extremely difficult for the marketer to sell such products. Therefore to increase the sales, manufacturers made socks a desirable item, giving it a unique selling proposition by adding different attributes. Now, socks are available in multiple varieties like specialty socks, low-ankle socks, trouser socks, athletic socks, casual socks, luxury socks, women’s socks, and so on. The advent of application-specific socks has transformed socks from just a commodity to a fashion statement.

The sports socks out of all the varieties of socks are specifically designed to use in different sports. Many sports have even a special version of their socks. For instance, football or soccer socks are long length socks, passing the knee so that it can easily accommodate the shin guard. Another example is of Basketball socks that are specialized in such a way that they are right/ left foot specific.

Therefore, due to the increasing demand for the socks, suiting the needs and desires is expected to boost the global sports socks market during the forecast period.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value ($US)

  Segments covered

  Product Outlook, Material, Application, Distribution Channel, Key Stakeholders and Region

  Regions covered

  North America (U.S., Canadaand Mexico), Europe (Germany, UK, France, Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and the Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and the Rest of LAMEA)

  Companies covered

Nike Inc., Adidas A.G., Puma S.E., ASICSAmerica Corporation, Converse, Dickies, Under Armour, Thai Socks Corporation, Darn Tough, and Saucony.

 

COVID-19 ScenarioAnalysis:

  • The COVID-19 outbreak has hit the clothing, footwear, & accessories industry.
  • The sales figures for the sports socks have fallen due to the ongoing pandemic situation.
  • One reason for the declining demand is that people wear socks with shoes for outdoor activities that are on a halt because of the stay at home orders.
  • Another reason majority of sports events, where the demand for sports socks rises, is canceled or postponed.
  • Also, global manufacturers are facing massive supply chain disruption, due to logistic slowdown, lack of raw material, and halt on import-export activities.
  • However, due to the rising popularity of e-commerce sales, the industry might recover after the COVID-19 pandemic situation fades away.

Top Impacting Factors:Market Scenario Analysis, Trends, Drivers and Impact Analysis

Sports socks out of all the application-specific socks are gaining rapid traction not only because they are specifically designed to use in various sports, but also because they have many other benefits that drive their overall market growth. Wearing training shoes with bare feet, without wearing socks, while exercising, is not advisable as this can cause serious harm to the feet. Also, it may get you infected by unwanted bacteria. Therefore, to avoid these problems, the demand for sports socks rises. Other factors like the affordable prices of sports socks, increase participation of the consumers in gyming, the emergence of newer materials like nylon and polyester to manufacture sports socks, and the ability of sports socks to be get matched with informal footwear in a casual setting continuously drives the global sports socks market. Furthermore, the increased spending of consumers on health and fitness is prompting the demand for certain shoe accessories, especially sports socks. Another reason for the high sales of sports socks is the rising number of diabetic patients as they might suffer from foot disorders. Moreover, increasing penetration of the internet and smartphones, have made it possible for marketers to increase the sales rate by launching new and discounted products online.

The Global Sport Socks Market Trends are as follows:

The Advent of Waterproof Socks:

With the rise in technological advancements, the manufacturers are coming up with innovations and are offering additional features in socks. One such innovative feature that is gaining traction in the sports/ athletic socks segment is the waterproof socks. These socks are gaining popularity in outdoor activities like kayaking, skiing, and hiking. Waterproof socks comprise of a waterproof membrane and dual-layer that enables it to protect the feet from getting wet. For instance, ArticDry, a manufacturer based in Europe, in 2017 launched a waterproof sock named ArcticDryXtreme, produced from spandex, coolmax, and nylon material, making the sports socks both waterproof and breathable.

Casual Sports Socks are gaining Traction:

Casual sports socks are the fastest-growing sports socks in the global market, owing to the ease of incorporation and their ability to serve multi-purpose. The casual sports socks can be used with any apparel and are highly preferable in running & casual sports. Rising health awareness among the consumers about the importance of exercising propels the market growth of casual sports socks globally.

 

Key Segments Covered:

Segments

Sub-segments

  Product Outlook

  • Casual
  • Formal
  • Athletic

  Material

  • Cotton
  • Nylon
  • Polyester
  • Others

  Application

  • Men
  • Women
  • Children

  Distribution Channel

  • Supermarket/ Hypermarket
  • Convenience Store
  • Online Retail Stores
  • Others

 

Key Benefits of the Report:

  • This study presents the analytical depiction of the global sport socks industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global sport socks market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global sport socks market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global sport socks market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions Answered in the Sport Socks Market Research Report:

  • What are the leading market players active in the sport socksmarket?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
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  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
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  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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