Socks have become largely a commercialized commodity item, with the expansion of retail stores and department stores selling wide range of socks, including specialty ones. Rapid pace of urbanization is one of the key drivers for the evolution in the socks market. Rise in sales of athletic footwear has also spurred the demand for socks with special characteristics. Novelty socks have also caught on momentum from the growing penetration of these in general apparel store, apart from fashion stores. Increasing awareness about fashion among men is another key trend favoring new demand in the socks market. Women world over have also become conscious evaluating their purchases of socks based on fashion rather than just value.
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Specialized Socks Emerge as Segment with Incredible Avenues in Socks Market
Growing consumers’ demand for new colors and patterns is a key trend in the socks market. A wide range of needs has spurred the demand for specialized socks, thereby opening new avenues in the socks market. A case in point is the rise in demand for socks that are apt for outdoor activities and gymming. A growing number of such consumers are willing to pay for the specialized apparel, thereby boosting the demand in the socks market.
In 2018 the global socks market was pegged at US$ 42.5 bn. During the forecast period of 2019 – 2027, the opportunity in the market is expected to rise at CAGR of 6.5%.
The growing focus on foot care is a key trend in the diabetic population. Specialty socks manufacturers are keen on tapping into revenue streams from this consumer segment. Physician-endorsed socks is another related category that is expected to do a substantial business. A great deal of this rests on two factors: rise in awareness about the availability on common distribution channels and the medical benefits they can bring to the end user. Celebrity endorsement has in recent years have been instrumental in raising the awareness among the common masses through social media and traditional electronic media.
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Athletic socks protect Your Feet from Impact and Pressure.
Athletes like to wear these socks because it improves blood flow during physical activity.
If you are also thinking of buying athletic socks for your workouts rather than normal socks, Read our blog on the best athletic socks for women.
