About the Report
Demand for hiker socks and yoga socks is expected to register positive growth over the coming years, due to factors such as increasing sports participation on one side, and rising number of injuries due to physical activities on the other. Growing health concerns is another factor that is encouraging individuals to adopt compression and grip socks during physical activities. Wool and cotton socks are most sought-after, with sales of unisex socks outweighing those for any particular customer group.
In its new study, market research and consulting firm Persistence Market Research offers detail insights related to factors and components driving the sales of hiker socks and yoga socks, which are especially high in the commercial sector. The study tracks the market in 20+ high-growth countries, along with analyzing the impact of novel coronavirus on the parent industry in general, and hiker socks and yoga socks in particular.
Find Out More about the Report Coverage
- Adidas Group
- Nike, Inc.
- Puma SE
- VF Corporation
- Darn Tough
- Farm to Feet
- Patagonia, Inc.
- Elicit Brands, LLC
- Implus LLC
- Injinji, Inc.
- ToeSox, Inc.
- Other Players (As requested)
Historic & Future Market Outlook
The hiker socks and yoga socks market expanded at a CAGR of 4.6% from 2015 to 2019, and is expected to remain optimistic during the forecast period. Adoption of hiker and yoga socks is expected to increase, as these socks provide necessary compression and grip required during physical activities such as hiking and yoga. Manufacturers are engaged in developing socks that provide utmost comfort to the users.
Besides this, the multi-purpose nature of these socks is further expected to drive sales growth over the coming years. Besides yoga and hiking, these socks can also be used for multiple sports activities, dance, etc. According to Persistence Market Research’s analysis, sales of hiker socks and yoga socks are set to expand at over 6% CAGR from 2020 to 2030.
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Will Rise in Outdoor Sports Activities Drive Adoption of Hiker Socks and Yoga Socks?
Rise in outdoor sports activities is expected to positively impact the sales of hiker and yoga socks. As per recent statistics of the US Bureau of Labor Statistics 2017, individuals in educational groups are more likely to participate in sports and exercise activities on the basis of daily average. In case of activity type, walking and yoga fall under the top 10 most preferred activities. These statistics itself reflect that increasing participation in outdoor and physical activity is expected to drive market growth over the coming years.
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Is Customization and Premiumization Gaining Traction?
Over the last few years, customization has been considered as a key business strategy, as it helps increase consumer satisfaction, which directly results in repeat customers and more profits. On realizing that the future lies in providing personalized and customized solutions, manufacturers in the industry are engaged in providing customized and personalized hiking and yoga socks.
Few manufacturers provide an opportunity to customers to customize their socks in terms of size, design, style, height, material, etc. Besides customization, manufacturers are also engaged in providing certain suggestions and recommendations in case of customization. All such initiatives have helped manufacturers gain a competitive advantage over others operating in this space.
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How are Manufacturers Increasing their Market Reach?
Manufacturers are aggressively focused on expanding their product reach through both, store-based retail and digital retail. Well-established brands such as PUMA, ADIDAS, NIKE, etc., have successfully enhanced their retail presence across different markets. These well-established brands have also successfully enhanced their digital presence. Brands such as Nike, PUMA, and ADIDAS operate their own online DTC (Direct to Consumer) stores.
What are the Desirable Connotations Attached by Manufacturers to Hiker Socks and Yoga Socks?
Various manufacturers and brand owners put forth numerous claims related to product efficiency, with an aim to capitalize on product USP and gain significance presence in the industry. Connotations such as non-slip socks, grip socks, compression socks, etc., are extensively used to attract consumer attention.
EcoMade is another prominent claim that is gaining significance in the market. This connotation is used for socks that are made from recycled materials. Use of such connotations and claims in relation to product feature and performance has played a significant role in attracting added user attention.
Is Emergence of Private Label Brands Revolutionizing the Industry?
In the past few years, emergence of private label brands in many sectors has played a significant role in reshaping industry trends. In case of the socks industry, few retailers are now engaged in marketing their own branded hiker socks and yoga socks. Private label brands are highly perceived as cost-effective and durable brands by consumers, thus resulting in increased sales. Thus, emergence of private label brands is expected to play a significant role in fueling sales growth during the forecast period. For instance, Amazon, in light of its private-label rampage, has launched numerous brands under its private label family. The company offers socks under its brand Amazon Essentials. Emergence of private label brands has also stimulated the competition level in the industry.
How has the Industry been Impacted by the COVID-19 Pandemic?
The pandemic outbreak has posed numerous challenges to manufacturers. Amid the pandemic outbreak, retail companies have now resorted to digitize their operations and have adopted a customer-centric approach to convert more sales.
Besides this, the pandemic highly impacted the sales growth of hiker socks and yoga socks over the past few months. Restrictions imposed on public gatherings and outdoor adventure activities have been a major cause that directly impacted the sales of hiker and yoga socks, posing direct challenges in front of manufacturers on the sales front.
Is Adoption of Natural Sock Materials Increasing?
As environmental concerns are gaining pace across regions, sustainability is the recent trend that is considered and adopted increasingly by various industry sectors. As consumers today are increasingly embracing social concerns, they are actively seeking products that best align with their values. In light of this, many industry manufacturers are engaged in the sustainable manufacturing of socks that align with the values of sustainable shoppers and also guarantees product performance.
Few brands are offering hiking socks made from polyester yarn extracted from recycled water bottles. These brands also promote these socks as EcoMade socks, just to gain the attention of environment-conscious shoppers.
Will Rising Sports Injuries in the U.S. Facilitate Product Adoption?
Increasing number of injuries caused due to sports and other recreational activities is expected to play a key role in driving the adoption of socks that provide more comfort and protection. As per statistics of the National Safety Council, 2019, exercise was one of the major causes of injury during sports and recreational activities. Thus, U.S. consumers has today have become more concerned about safety while engaged in recreational and other sports activities.
Increasing awareness regarding health safety during such sports and recreational activities is likely to positively impact the regional sales of hiker socks and yoga socks incorporating cushions that guarantee utmost protection.
How is the Premiumization Trend Reshaping Product Offerings in the U.K.?
Premiumization is one of the prominent existing trends that has reshaped offerings in the market. With an increase in consumer spending, demand for good and premium quality anti-grip socks in the U.K. is expected to increase. In light of the prevailing trend, manufacturers in the region are keen on offering hiker socks that guarantee odor and bacterial control, anti-blistering feature, along with maximum comfort. This is how the prevailing premium trend is encouraging regional players to reshape their offerings.
Is Growing Millennial Interest in Sports & Recreation Activities Driving Demand in Brazil?
When it comes to health and fitness, millennials are always a step ahead. In the past few years, despite a busy lifestyle, millennials have significantly gained interest in outdoor and recreational activities, which is why, this generation is referred to as outdoor natives. Increasing adoption of outdoor and recreational activities by millennials is expected to play a key role in facilitating regional adoption of hiker and yoga socks during the forecast period. Besides, rapid emergence of recreational and outdoor clubs in the country is further expected to facilitate growth in hiking activities over the coming years, thus positively impacting the regional sales of hiker and yoga socks.
How Will the Booming Yoga Industry in India Drive Sales Growth?
The booming yoga industry in India is projected to play a key role in driving the adoption of grip and cushioned socks. Growth in the yoga industry in India can be reflected by the development of international yoga centers attracting more practitioners and learners. Besides this, yoga is also increasingly promoted by the government as an important part of tourism, thus attracting a large number of national and international visitors.
Thus, rise in the number of yoga practitioners in the country is expected to positively impact the adoption of grip and cushioned socks, thus facilitating regional growth. All these factors point out toward a positive growth trend for the sales of socks hiker socks and yoga socks in India.
Is Innovation and Cost-effective Production Driving Growth in China?
Rapid innovation is considered as an important strategy to gain a competitive edge over other players in the market. Manufacturers are aggressively focused on developing new innovative designs and styles in case of grip and hiker socks, just to gain user attraction. Ankle-fit finger socks marketed as anti-grip socks, barre socks, etc., are few of the styles different from casual socks. Such new designs and styles are expected to attract immediate user attention, thus urging them to make a purchase. Besides this, cost-effective production in the country has further facilitated growth in the sales of hiker socks and yoga socks.
Which Hiker Socks and Yoga Socks Category Dominates the Market?
Among the products, crew socks, in terms of volume, currently account for a significant share of 45.3% in the market. Crew socks are considered as the classic height, and are slightly higher than ankle socks, thus providing utmost protection against abrasion with boots. This is one of the major reasons why the adoption of crew socks is more as compared to other socks.
Which Sock Material is Expected to Be Most Sought-after?
In case of material, wool is the most popular sock material. As per the analysis, the segment held a significant share of 30.5% in 2019. Wool, as a material, is highly recommended by footwear specialists, as it regulates temperature and also provides proper cushioning. Besides, the material also has natural anti-microbial properties, thus retaining less smell as compared to other fibers. All these factors have made wool a preferred material for hiker socks and yoga socks. The wool material category is expected to register a significant CAGR of close to 8% over the forecast period.
Will Online Retail Lead the Sales of Hiker Socks and Yoga Socks?
As per our analysis, during the forecast period, online sales are expected to register a CAGR of more than 8%. The hiker socks and yoga socks market is extensively classified as a fragmented Industry, with a large number of local and regional players operating in this space. In an industry where store-based retailing is still prominent, manufacturers are also engaged in expanding their online presence for increased sales and profits.
With increasing number of consumers, manufacturers are currently focused on enhancing their product portfolios as well as market reach by opting for strategic collaborations and partnerships. Manufacturers are currently engaged in targeting both, mass and premium category markets.
In light of growing sustainability awareness, manufacturers have now shifted to using sustainable raw materials. Sustainability factor is also being considered while designing product packaging.
Apart from this, manufacturers and retailers have increasingly stressed more on promotional activities, with an aim to ensure extensive product reach. All such efforts on the part of players have played a significant role in facilitating market growth.
Some of the leading companies operating in the hiker socks and yoga socks market are:
- ADIDAS Group
- Nike, Inc.
- PUMA SE
- VF Corporation
- Darn Tough
- Farm to Feet
- Patagonia, Inc.
- Elicit Brands, LLC
- Implus, LLC
- Injinji, Inc.
- ToeSox, Inc
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.
Scope of Report
Historical Data Available for
USD Million for Value and Units for Volume
Key Regions Covered
Key Countries Covered
Key Segments Covered
Key Companies Profiled
Customization & Pricing
Available upon Request
Market by Category
- No-show Socks
- Ankle Socks
- Crew Socks
- Knee-high Socks
- Convenience Stores
- Specialty Stores
- Online Retailers
- Other Sales Channels
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)
Key Questions Answered in Report
Q1. What is the hiker socks and yoga socks market size?
The global market is expected to witness a CAGR of more than 6% during the forecast period 2020-2030. As per Persistence Market Research, market valuation was US$ 853.3 million in 2019.
Q2. Which is the most lucrative market for hiker socks and yoga socks?
The U.S. currently leads the global hiker and yoga socks market. In terms of value, sales in the U.S. accounted for more than 26.8% of global sales in 2019.
Q3. Which are some of the leading companies offering hiker socks and yoga socks?
Some of the leading companies in this market space are PUMA SE, Nike, Inc., VF Corporation, Adidas Group, Patagonia, Inc., Wrightsock, Icebreaker, Elicit Brands, LLC, Farm to Feet, Injinji, Inc., Implus, LLC, ToeSox, Inc, Feetures, Patagonia, Inc., and others.
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