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.
- 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 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 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?
Sport Socks Market Report Highlights
By Product Outlook
By Distribution Channel
Key Market Players
Converse, Darn Tough, Nike Inc., Saucony, Dickies, Thai Socks Corporation, Puma S.E., Adidas A.G., Under Armour, ASICSAmerica Corporation