Industry: Consumer Goods
Published Date: December-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 300
Report ID: PMRREP17806
According to Persistence Market Research, the market generated a revenue of US$ 6,410.8 Mn in 2024. The demand for sports and athletic socks will accelerate, with the top market players holding a prominent share of market in 2024. The global market is expected to reach US$ 10,921.7 Mn by 2033, growing at a 5.5% CAGR from 2024 to 2033.
| Attributes | Key Insights |
|---|---|
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Sports and Athletic Socks Market Size (2024E) |
US$ 6,410.8 Mn |
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Projected Market Value (2033F) |
US$ 10,921.7 Mn |
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Value CAGR (2024-2033) |
5.5% |
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Collective Value Share: Top 3 Countries (2023) |
25% |
The number of people who subscribe to athletic training campaigns on an annual basis heavily influences the growth of the global market for athletic and sports socks. In recent years, there has been a huge desire for brand-new, cutting-edge sporting gear. The global athletic and sports socks market is expanding due to the general public's preference for obscure sports and physically demanding hobbies.
The overwhelming demand for the goods has created new opportunities for the market to generate revenue. Sports socks could be produced in greater quantities during the course of the following ten years by a variety of production facilities. The total market value for athletic and sports socks is expected to rise dramatically going forward.
In the updated study by Persistence Market Research, a wide-ranging analysis of several of the major difficulties faced by companies that provide sports and athletic socks has also been covered in detail.
Sports and athletic socks usage has historically increased from 2019 to 2023 at a 4.6% CAGR, with developed nations including the United States, Canada, Germany, and the United Kingdom holding a sizable portion of the global market.
The sports and athletic socks market is anticipated to maintain its optimism during the projected period. Sports and athletic socks are expected to gain popularity as they provide the necessary grip and compression for strenuous workouts, especially when playing sports like basketball, football, and hockey, among others.
Further, it is anticipated that the use of sports and athletic socks would expand throughout the anticipated period due to variables including rising sports participation on the one hand and a rise in injuries brought on by physical activity on the other. The growth in health concerns is another element encouraging people to wear compression and grip socks when exercising.
The sales of market are anticipated to increase at a 5.5% CAGR between 2024 and 2033, according to PMR's estimate.
In order to capitalize on the product's special selling characteristics and carve out a major niche for themselves in the market, different manufacturers and brand owners make a range of claims regarding the effectiveness of their products. The words non-slip socks, grip socks, compression socks, and others usually lure customers in with similar connotations.
Eco Made is a further well-liked claim that is growing in popularity. This notion is used to describe socks made from recycled materials. Such implication and claim use in relation to product performance and features has aided in capturing consumer interest. The producers also provide athletic and sports socks that can be used regularly in addition to during physical activities.
For instance, in 2019, Farm to Feet introduced the Max patch cushion socks, which can be used both daily and for various activities.
One sock for all sports or activities has been a more common consumer trend in recent years. This propensity prevents the market from growing as much as it could. However, by offering multipurpose socks, this very aspect can be made successful. Athletic and sports socks with dual uses can be worn for both casual wear and athletic events. In this approach, businesses can develop new products that provide functionality for several purposes, which will fuel market expansion in the subsequent years.
Additionally, customers frequently wear casual socks to the office. Companies may market the same multi-functional socks to both office workers and athletes by keeping this behavior in mind. With its expansion into other activities, natural/organic waterproof socks will also have the chance to develop in the future.
Are Rising Sports Injuries Likely to Encourage Product Adoption in the United States?
The U.S. held a significant value share of around 16.8% in the global sports and athletic socks market in the year 2024. The country's need for athletic and sports socks that provide superior comfort and protection is expected to increase due to the increased number of injuries brought on by sports and other recreational activities.
Exercise was among the top causes of injury in 2019 among sports and leisure activities, according to information from the National Safety Council. As a result, American consumers today are increasingly worried about their safety when engaging in recreational and other sporting activities.
Therefore, it is anticipated that regional sales of sports and athletic socks will increase as more people become aware of the health hazards linked to such sports and recreational activities.
How are Industry Product Offerings in the U.K. Being Changed by the Premiumization Trend?
The U.K. market is anticipated grow at a CAGR of 4.0% over the forecast period, and it is predicted to expand quickly. Premiumization is one of the most noteworthy current trends that has altered market offerings. As consumer spending increases, it is anticipated that there will be an increase in demand for superior and premium grade sports & athletics socks like anti-grip, crew, etc. in the UK.
Regional manufacturers are keen to supply sports and athletic socks that offer odour and bacterial control, anti-blistering, and maximum comfort in light of the current trend. Regional players are redesigning their products in this way in response to the current premium trend.
How is Brazilian Millennials' Increasing Interest in Sports and Recreational Activities Fuelling Product Adoption?
In the Latin American region, the market in Brazil is anticipated to grow at a CAGR of about 5.3% during the forecast year. When it comes to health and fitness, millennials continuously advance. Despite leading busy lives, millennials have recently shown a tremendous interest in outdoor and recreational activities, earning them the moniker "outdoor natives."
During the projection period, regional adoption of sports and athletic socks is projected to benefit from the growing demand for outdoor and recreational activities among millennials. In addition, the region's quick development of leisure and outdoor clubs is significant to be crucial in fostering growth in sports like baseball, basketball, and hockey in the upcoming years, favourably enhancing the economy.
Why are Sports and Athletic Sock Makers Making Investments in India?
Due to growing brand recognition and the country's present low level of sock penetration, the Indian market for sports and athletic socks is expected to grow at an amazing rate of around 8.1% throughout the forecast period. As a result, the market is anticipated to expand more quickly than in prior years.
Additionally, as the e-commerce industry in India gains popularity, it is significant that online distribution channels, such as e-commerce websites, would increase significantly.
Which Subcategory of Athletic and Sports Socks Commands the Market?
Cycling socks are predicted to grow in popularity at a remarkable rate of around 9.2% CAGR during the forecast year. Cycling shoes are snug and can't comfortably accommodate thick, loose-fitting socks, hence cycling socks are thin and close-fitting. Cycling socks are made of quick-drying, sweat-wicking materials to keep users feet comfy even while they perspire. Additionally, the manufacturers are creating more inventive socks to help them grow their business internationally.
What Type of Sock Material is anticipated to Rule the Market?
Cotton blend sports and athletic socks market held a significant value share of around 58.6% in 2023, in terms of material type and are anticipated to maintain their dominance throughout the projected period due to their capacity for moisture absorption and increased comfort.
Which Consumer Orientation is anticipated to be the Market's Dominant Force?
Women are anticipated to see the quickest CAGR of ~6.1% in terms of consumer orientation during the projection period. Globally, more working-class women are likely to have a favorable influence on category growth. In contrast, the men's category had a significant market share of ~52.4% in 2022.
Men are supposed to encourage spending on high-quality shoe accessories, such as socks, in order to keep superior grooming appearance. As a result, Jockey introduced new socks in 2019 through its website and physical locations; including women's low ankle socks, varied men's ankle socks, and denim mélange men's casual socks.
How is Online Retail expected to Grow Significantly?
Online sales are anticipated to dominate during the projected period in terms of sales channel, according to the analysis, with a higher CAGR of ~9.4%. Consumer preferences have changed because of the pandemic, and they are moving from offline to online channels to make purchases, which is encouraging players to increase their online market presence.
Additionally, manufacturers are working to increase their online presence in a sector where brick and mortar stores are still a dominant form of retail. To grow their company, manufacturers are even forming alliances with sportswear retailers. For instance, Wolverine Worldwide, Inc. formed a relationship with Xtep International Holdings Ltd., a Chinese sportswear store, to increase its market share in China.
To obtain a competitive edge over other active companies, the players are actively increasing their industry penetration. The competitors are expanding their business in low- and middle-income nations.
| Attribute | Details |
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Forecast Period |
2024-2033 |
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Historical Data Available for |
2019-2023 |
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Market Analysis |
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Customization & Pricing |
Available upon Request |
By Product
By Consumer Orientation
By Material Type
By Sales Channel
By Region
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The sports and athletic socks market is valued at US$ 6,096.3 Mn as of 2022.
Sports and athletic socks are projected to increase at 5.5% CAGR and is expected to be valued at around US$ 10,921.7 Mn by 2033 end.
Nike, Inc., Adidas AG, VF Corporation, PUMA SE, Jockey International Inc., Drymax Technologies Inc., Hanesbrands Inc., Under Armour, Inc., Skechers U.S.A., Inc., ASICS Corporation, Wolverine World Wide, Inc., THORLO, Inc., and New Balance Athletics, Inc., among others.
Key exporters of sports and athletic socks are China, Italy, Germany, France and U.S.
