The global socks products market was valued at USD 24.2 billion in 2022 and is projected to expand at a CAGR of 4.8% from 2023 to 2030. The growing demand for comfortable and trendy socks is the major factor driving the growth of the market. Moreover, the rise in the preference for unique and stylish socks among youngsters is further fueling the market growth. Furthermore, the growing prevalence of online shopping is driving the sales of socks products.

The increasing demand for organic and sustainable socks is a significant factor driving the market. Manufacturers are focusing on introducing organic socks made from organic cotton, bamboo, and hemp to meet the rising consumer demand for sustainable products. For instance, in April 2021, Stance, a San Clemente, California-based company, announced the launch of its new line of organic socks. The products are made from sustainable materials such as organic cotton, bamboo, and hemp. Furthermore, designers are introducing innovative designs in socks to make them look more stylish and comfortable. This is expected to further support the growth of the market.

In addition, the growing popularity of printed and colorful socks is creating an opportunity for the market. This is attributed to the growing demand for fashionable and trendy socks among youngsters. Manufacturers are focusing on offering innovative designs and prints such as polka dots, stripes, and floral prints. For instance, in October 2021, Bombas, a US-based socks brand, announced the launch of its new line of kids socks. The new collection includes a range of playful prints, colors, and patterns.

Furthermore, the rising demand for sustainable and comfortable socks is driving the growth of the market. Manufacturers are focusing on introducing innovative products with enhanced comfort and fit. For instance, in February 2022, Amazon announced the launch of its new sock line Core 10. The new range of socks is made from sustainable and breathable materials with extra cushioning to provide enhanced comfort.

Moreover, the growing demand for performance and technical socks is further driving the growth of the market. Manufacturers are introducing innovative products featuring sweat-wicking, breathable, and anti-microbial technologies. For instance, in March 2022, Reebok launched its new range of performance socks. The product line features anti-microbial technology and fabrics that wick away sweat to keep feet dry and cool.

The athletic socks segment held the largest market share in 2020 and is expected to remain dominant throughout the forecast period. The rising trend of athleisure wear and growing awareness about foot health are driving the demand for athletic socks. According to a survey by Statista, in March 2020, around 75% of the population in the U.S. wore athletic socks at least once a week. Moreover, increasing prevalence of various sports activities worldwide is boosting the demand for performance-based athletic socks.

The dress socks segment is expected to witness considerable growth during the forecast period. The demand for dress socks is increasing due to its comfort and style features. Furthermore, rising awareness about personal hygiene and cleanliness is driving the demand for dress socks. According to an article published by The New York Times, in August 2020, the demand for dress socks has increased due to the rising trend of wearing suits. Moreover, increasing trend for fashion and style is another factor driving the market growth.

The supermarkets and hypermarkets segment dominated the global market in 2020, accounting for a share of 53.8%. The growth of the segment is mainly driven by the rising consumer inclination towards supermarkets & hypermarkets as a primary source for purchasing personal care products. According to a study by IMRG in 2020, 70% of consumers prefer to shop for clothing and accessories from supermarkets & hypermarkets as they offer an extensive range of product options. In addition, these establishments provide discounts on multiple products, which attracts consumers to purchase from their outlets.

The online segment is anticipated to expand at the highest CAGR of 13.1% over the forecast period. With the increasing penetration of the internet, consumers are adopting online platforms for convenient shopping. In addition, e-commerce companies offer numerous discounts and promotional schemes, which has increased the demand for online shopping. Furthermore, the rising awareness among consumers regarding the availability of various brands of socks on online platforms is likely to propel the segment growth over the forecast period.

The casual segment accounted for the largest revenue share of 77.9% in the year 2022. The increasing trend of casual styling in everyday life is driving the demand for casual socks such as ankle, crew, and no show. Moreover, the increasing popularity of athleisure clothing is creating demand for casual socks. For instance, in March 2021, Nike launched a collection of no-show socks to match the customer’s shoes. The popularity of athletic activities such as running, gym, and hiking is creating demand for sportspecific socks such as compression, running, and hiking socks.

The dress segment is anticipated to expand at the highest CAGR of 5.4% over the forecast period. The increasing trend of formal dressing is driving the demand for dress socks. For instance, in April 2021, Paul Smith, a U.K. based fashion brand, launched a new line of dress socks, including bold colors and unique patterns. Moreover, the increasing trend of gifting high-end dress socks to friends and family is driving the demand for the segment.

Europe led the market and accounted for the largest revenue share of over 43.2%, in 2022. This is attributed to the presence of several prominent players in the region. Moreover, the increasing number of online retailers offering a wide range of socks is further driving the growth of the market. For instance, in 2021, Happy Socks launched its first online store in the Netherlands, which offers a wide range of socks in different patterns, colors, and sizes.

Asia Pacific is expected to witness significant growth in the coming years. Growing demand for socks among athletes, sports enthusiasts, and fitness enthusiasts is driving the growth of the market in the region. Moreover, the increasing demand for fashionable and designer socks among consumers is further propelling the growth of the market. For instance, in April 2021, PEDS launched its first store in India that offers a wide range of socks in different colors and designs.

In this part of the socks products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your socks business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions

The main source of revenues for a socks business comes from sales of the products. This can include sales through online stores, physical stores, and wholesale. Other possible sources of profit include sales of related products, such as other apparel items, and licensing agreements.

Projecting Expenses

In this section, all the regular expenses related to keeping the socks business running will be described. The list of operating expenses includes wages, inventory, manufacturing and production costs, shipping and delivery costs, advertising, and others. Additionally, you should consider all the costs associated with setting up or running an online store, such as web hosting, payment processing fees, and software licenses.

Some of the key companies operating in the socks market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Nike Inc. launched the Dri-FIT socks collection, designed with a sweat-wicking fabric to keep the feet dry and comfortable.

– In August 2022, Adidas AG launched the Ultraboost series of socks for enhanced cushioning and comfort during running.

– In October 2022, Puma launched the Ignite series of socks designed for high-performance activities.

Some of the prominent players in the socks market include:

– Adidas AG
– Reebok International Limited
– Nike Inc.
– New Balance, Inc.
– Under Armour, Inc.
– Puma SE
– Fruit of the Loom
– Hanesbrands Inc.
– K.Bell Socks
– Burlington Socks

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global socks products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Dress Socks
– Athletic Socks
– Casual Socks
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Department Stores
– Online
– Specialty Stores
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Men
– Women
– Children

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Major Drivers of the Socks Market?
[A]: The major drivers of the socks market include the growing awareness among consumers about fashion and comfort of socks, the rising trend of athleisure, and the growing demand for customized and technologically advanced socks. The rise in disposable incomes and the availability of a wide variety of choices have also contributed to the growth of the market.

[Q]: Which Regions are Expected to Show High Growth?
[A]: North America and Europe are expected to be the major regions with high growth potential in the socks market. The demand for socks in these regions is expected to remain high due to the increasing popularity of athleisure and fashion trends.

[Q]: What are the Key Trends in Socks?
[A]: The key trends in the socks market include the increasing demand for anti-microbial, sweat-resistant, and odor-resistant socks. New technologies such as the use of 3D printing, smart sensors, and conductive yarns are becoming increasingly popular and are expected to drive the growth of the market.

[Q]: Who are the Major Players in the Socks Market?
[A]: The major players in the socks market include Nike, Inc., Adidas AG, Uniqlo Co., Ltd., Puma SE, Hugo Boss AG, Under Armour, Inc., Reebok International Ltd., Hanesbrands, Inc., Sock It to Me, and Richer Poorer, Inc.

[Q]: What are the Future Prospects for the Socks Market?
[A]: The future prospects for the socks market are expected to be positive, driven by the increasing demand for customized and technologically advanced socks. The growing trend of athleisure and the increasing popularity of fashion trends are also expected to drive the growth of the market.