With advancements in technology, manufacturers are coming up with new innovations, and are offering socks with additional features. Waterproof socks are gaining noteworthy traction in the athletic & sports socks market. Waterproof socks comprise 3 elements - a knit interior sock, a waterproof membrane, and a knit exterior sock. The waterproof membrane and dual layers protect the feet from water. These special athletic & sports socks are gaining immense popularity, especially for use in outdoor activities such as hiking, kayaking, and skiing.
In 2017, ArcticDry, a Europe-based manufacturer, launched a new variant of socks with waterproof features. These new ArcticDry Xtreme waterproof socks for men are produced from spandex, coolmax, and nylon material, making these socks breathable as well as waterproof.
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- Nike, Inc.
- Adidas AG
- PUMA SE
- Skechers U.S.A., Inc.
- Under Armour, Inc.
- ASICS Corporation
- Wolverine World Wide, Inc.
- V.F. Corporation
- New Balance, Inc.
- Hanesbrands Inc.
- THORLO, Inc.
- Jockey International Inc.
- Drymax Technologies Inc
Casual Sports Socks Gaining Impetus as Demand Heightens in Europe
Running & casual sports socks are the most used and preferred types in the athletic & sports socks market, owing to their multi-purpose usage. Rising interest for sports and growing awareness of benefits of regular exercise are propelling the growth of the Europe athletic & sports socks market. Improved sports infrastructure in Europe, especially in the U.K, Germany, and France, offers a better platform for sports. Moreover, sport is a top priority in schools and colleges in these countries, and hence, they are equipped with better infrastructure as compared to other nations. Various strategies are implemented by governments in Europe to promote sports and health-enhancing physical activities, such as ‘Global Strategy on Diet, Physical Activity and Health’, and ‘European Charter on Counteracting Obesity’. Advanced technology, better infrastructure, government initiatives towards sports, and most importantly, people’s willingness to participate in sports create greater demand for sports products and accessories, which eventually results in the higher sales of athletic & sports socks in European countries.
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Athletic & Sports Socks Market: Competition and Regional Overview
- The global athletic & sports socks market represents a fairly consolidated competition landscape, where, a majority of key players maintain their strategic focus on product development, speed up product distribution, and engage in partnerships & joint ventures and mergers & acquisitions. Manufacturers of athletic & sports socks are also focusing on contract manufacturing. For instance, Skechers U.S.A., Inc. and Under Armour®, Inc have outsourced their production to third-party manufacturers as a part of their cost reduction strategy.
- Nike, Inc., Adidas AG, Puma SE, Under Armour®, Inc., and ASICS America Corporation are considered as major market players in the athletic & sports socks market.
- Athletic & sports socks companies are principally engaged in acquisitions and partnerships for the expansion of their businesses across the world. Continuous product innovation pertaining to athletic & sports socks is boosting the growth of companies in terms of value and volume. In August 2019, Nike acquired Celect, a Boston-based retail predictive analytics and demand sensing firm, to expand its market capabilities and provide proprietary insights on hyper-local demand predictions
- PMR identifies Europe as the largest market for athletic & sports socks, followed by North America, attributable to the higher demand for sports socks and increasing daily sports participants in the region. As per an independent study, 24.8% of the population in Italy participates in daily sports activities
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Big players in the athletic & sports socks market space, such as Nike and Adidas, are currently focusing on the U.S. and China. Basketball is found to be their top focus for players in the North American market, whereas, China remains the top priority for offering casual and running socks. Small- and mid-size athletic & sports socks manufacturers mostly opt for contract manufacturing services. A high concentration of socks manufacturers are present in China, Turkey, and Italy, whereas, athletic & sports socks manufacturers are mostly found in North America and European countries such as Germany.
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Athletic & Sports Socks Market: Segmentation
PMR’s research study on the global athletic & sports socks market offers a detailed market taxonomy, wherein, key segments have been discussed in detail. The athletic & sports socks market is segmented on the basis of product, consumer group, material, sales channel, and region. Every segment is analyzed in detail, and data pertaining to the growth of each segment has been included in the study.