Socks Market
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Transparency <strong>Market</strong> Research<br />
Global <strong>Socks</strong> <strong>Market</strong> Poised to Reach<br />
US$11.6 bn by 2023, Luxury <strong>Socks</strong> to<br />
Witness High Demand<br />
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REPORT DESCRIPTION<br />
According to a new market report published by Transparency <strong>Market</strong> Research “<strong>Socks</strong> <strong>Market</strong> - Global Industry<br />
Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,” the global socks market was valued at<br />
US$5.6 bn in 2014, at a CAGR of 8.5% from 2015 to 2021 to account for US$11.6 bn by 2023.<br />
<strong>Socks</strong> account for a small, but significant part of the apparel market and one’s dresser. <strong>Socks</strong> are consumer<br />
products. However, the global socks market is expected to experience exponential growth due to rising demand for<br />
high-end and luxurious socks.<br />
The robust boom in the socks market has led to the entry of large and small scale companies. The socks market has<br />
recorded higher growth rate as compared to the overall apparel market in the past few years, driven by the<br />
changing fashion trends and rising per capita expenditure on socks.<br />
Based on product type, the global socks market has been segmented into specialty socks, athletic socks, trouser<br />
socks, women’s socks, knee-high knitted socks, and others. Demand for various socks types is driven by demand for<br />
different footwear. For instance, high demand for athletic shoes is expected to boost demand for athletic socks.<br />
Specialty socks were the largest product segment, driven by their diversified use.<br />
The socks market is booming as compared to the apparel market. Although a commodity item, socks have upgraded<br />
into fashion pieces owing to product development & diversification and commercialization. The socks market in<br />
developing regions is majorly driven by local players. However, the retail market is growing rapidly in the developing<br />
regions especially in Asia Pacific and Latin America which is expected to augment sales of socks during the forecast<br />
period. Moreover, introduction of novelty socks and improving retail network is likely to drive demand for high-end<br />
socks.<br />
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Different types of fibers are used to manufacture socks. Usage of synthetic fibers to manufacture socks is expected<br />
to be high during the forecast period due to low cost and low moisture-holding capacity. Nylon and polyester socks<br />
account for considerable share of the global socks market. Demand for natural fibers such as cotton and wool is<br />
expected to decline, especially in the developing economies. Demand for synthetic socks has outpaced their natural<br />
fiber counterparts. However, demand for natural fiber knitted socks is considerably high in developed economies<br />
such as the U.S., Germany, the U.K., and France.
The men’s segment dominated the global socks market in 2014. Around 71% men wear socks every day. Driven by<br />
extensive usage of socks by men and improving fashion statements, the men’s segment is projected to witness<br />
steady growth at a substantial rate.<br />
The socks market is fragmented, with presence of both large and small players owing to low entry barriers. However,<br />
high degree of coexistence and partnerships has been witnessed in the global socks market. For instance, Thai <strong>Socks</strong><br />
Co. Ltd., a major supplier of socks in Thailand and Asia, has supply agreements with key players in the market such<br />
as Nike, Inc., Converse, and Paul Smith. Major players in the global socks market include Adidas Group, Nike, Inc.,<br />
Puma SE, Cole and Parker Co., and RY International.<br />
This research report analyzes this market on the basis of its market segments, major geographies, and current<br />
market trends.<br />
This report provides comprehensive analysis of<br />
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<strong>Market</strong> growth drivers<br />
Factors limiting market growth<br />
Current market trends<br />
<strong>Market</strong> structure<br />
<strong>Market</strong> projections for upcoming years<br />
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides<br />
market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five<br />
force model analysis and detailed profiles of top industry players. The report also includes a review of micro and<br />
macro factors essential for the existing market players and new entrants along with detailed value chain analysis.<br />
About Us<br />
Transparency <strong>Market</strong> Research is a market intelligence company providing global business information reports and services. Our<br />
exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision<br />
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We are privileged with highly experienced team of Analysts, Researchers and Consultants, who use proprietary data sources and<br />
various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most<br />
reliable information indispensable for businesses to sustain a competitive edge.<br />
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Browse The <strong>Market</strong> Research Report of <strong>Socks</strong> <strong>Market</strong> :<br />
http://www.transparencymarketresearch.com/socks-market.html<br />
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