Sports and Athletic Socks Market
Global Market Study on Sports and Athletic Socks: Cotton Socks to Remain Most Preferred across the World
Sports and Athletic Socks Market Segmented By Running Socks, Snow Sports Socks, Soccer Socks, Basketball Socks, Cycling Socks, Fitness Socks, Casual Sports Socks, Golf Socks, Hockey Socks in Cotton Blend, Synthetic Blend, Wool Blend Material
As per Persistence Market Research’s industry analysis on sports and athletic socks, the market is witnessing steady growth in 2021 with worldwide revenue up by 4.3% year-on-year. Revenue across the world is projected to increase 2X by 2031, reaching nearly US$ 12.4 Bn. East Asia is set be a lucrative market for manufacturers, rising at around 7% CAGR and capturing more than 25% share of the global market.
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- 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.
- New Balance Athletics, Inc
Key Points Addressed in Sports and Athletic Socks Industry Research:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Demand for Sports and Athletic Socks and How to Navigate
- Recommendation on Key Winning Strategies
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Demand Analysis of Sports and Athletic Socks from 2016 to 2020 Vs Future Market Outlook for 2021 to 2031
Historically, from 2016 to 2020, use of sports and athletic socks increased at around 3% CAGR, wherein, developed countries such as the U.S., Canada, Germany, and the U.K. held significant share in the global market.
During the forecast period of 2021 to 2031, the sports and athletic socks market is expected to remain optimistic. Sports and athletic socks are projected to become more popular as they give the necessary compression and grip for intense workouts, particularly when participating in sports such as basketball, football, and hockey.
As a result, factors such as rising sports participation on one hand and an increase in injuries caused by physical activities on the other are expected to drive adoption of sports and athletic socks over the coming years. Another factor motivating people to use compression and grip socks during physical activity is rising health concerns.
Due to constant product innovation, several key players are manufacturing socks that offer anti-bacterial and anti-fungal properties. Moreover, some smaller companies are offering socks that are extremely lightweight and corrosion- and heat-resistant.
- For instance, in March 2019, FITS®, an American manufacturer of socks, launched eleven new performance socks for running and hiking. These socks are loaded with features such as ultra-lightweight and maximum breathability.
- In 2017, Nike, Inc. launched NikeGRIP athletic socks that offer an anti-slip solution to improve traction and maximize grip.
- Drymax Technologies Inc. is offering athletic & sports socks with some additional features such as 3D advance fit, anti-slip wedge, blister protection, dense padding, etc.
Overall, the global market is anticipated to expand at 5% CAGR over the next ten years.
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Producers Desired Connotations with Sports and Athletic Socks Gaining Traction
Various manufacturers and brand owners make a variety of claims about product efficiency in order to leverage product's unique selling points and establish a significant presence in the business. Non-slip socks, grip socks, compression socks, and other terms with similar implications are frequently used to entice customers.
Another popular claim that is gaining traction is 'Eco Made'. Socks developed from recycled materials are referred to as having this connotation. Utilization of such implications and claims in regard to product features and performance has helped gain user attention.
Furthermore, manufacturers are offering sports and athletic socks that can be worn not just during physical activities but also on a daily basis.
- For instance, in June 2019, Farm to Feet released the Max patch cushion socks, which can be used for a variety of activities as well as daily wear.
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What are the Potential Growth Opportunities for Manufacturers of Sports and Athletic Socks?
Consumer tendency of using one pair of socks for all sports or activities has increased in the recent past. This tendency is restraining the market from achieving its potential growth. However, this very aspect can be transformed into success by introducing multi-purpose socks.
Multi-purpose athletic & sports socks can be used as casual wear as well as during sports activities. This way, companies can create a new product catering to multi-purpose usage functionality, which will drive the growth of the market over the coming years.
Moreover, consumers often wear casual socks to office also. Keeping this habit in mind, companies can target both, office goes and sports persons with the same multi-functional socks.
Furthermore, popularity of natural/ organic waterproof socks will have the opportunity to grow in the future with their penetration into various sports.
Will Rising Sports Injuries in the U.S. Drive Demand for Sports and Athletic Socks?
The market in the U.S. is expected to progress at a CAGR of 3.3% CAGR during the forecast years. Rising number of injuries caused by sports and other recreational activities is projected to drive demand for sports and athletic socks that give better comfort and protection.
According to the National Safety Council's statistics, among other sports and recreational activities, exercise was one of the leading causes of injury in 2019. As a result, today's American consumers are more concerned about safety while participating in leisure and sporting activities. As a result, rising awareness of health risks associated with sports and recreational activities is projected to boost regional sales of sports and athletic socks.
How is the Premiumization Trend Reshaping Industry Product Offerings in the U.K.?
In 2020, the U.K. accounted for 26.1% share in the European market for sports and athletic socks, and this market is expected to grow at a rapid rate.
One of the most notable trends that has transformed market offerings is premiumization. Demand for superior and premium quality sports & athletics socks such as anti-grip, crew, etc., in the U.K., is predicted to rise as consumer spending rises.
In light of this trend, regional manufacturers are eager to offer sports and athletic socks that provide smell- and bacterial-control, anti-blistering, and optimum comfort.
How is Growing Interest of Brazilian Millennials in Sports & Recreational Activities Driving Product Adoption?
The market in Brazil is expected to progress at a CAGR of 5.3% CAGR during the forecast years. Millennials are constantly a step forward when it comes to health and fitness. They have developed a strong interest in outdoor and recreational activities in recent years, despite their hectic lifestyles, which is why they are known as outdoor natives.
Rising demand for outdoor and recreational activities among millennials is likely to aid regional adoption of sports and athletic socks during the forecast period. Besides, the country’s rapid rise of recreational and outdoor clubs is predicted to play a vital role in aiding the growth of sports such as baseball, basketball, and hockey, positively boosting sales of sports and athletic socks.
Why are Manufacturers of Sports and Athletic Socks Investing in India?
The Indian market for sports and athletic socks is expected to rise at an impressive rate of over 7.2% CAGR, as a result of rising brand awareness and current low penetration in the country. As a result, the market is expected to grow at a faster rate than previous years.
Furthermore, online distribution channels are expected to rise steadily as the e-Commerce sector in India grows rapidly.
Which Sports and Athletic Socks Category Dominates the Market?
In terms of product, demand for cycling socks is expected to rise at an impressive rate of 9.2% CAGR. Cycling socks are thin and close-fitting because cycling shoes are tight and do not go well with thick, loose-fitting socks.
Cycling socks are comprised of sweat-wicking, quick-drying fabrics to keep the feet comfortable as they sweat. Furthermore, manufactures are developing more innovative socks in order to expand their business globally.
- For example, in 2018, Thorlo Inc. launched its light running socks in partnership with Next Fiber Technology.
Which Material is Most Preferred in Sports and Athletic Socks?
In terms of material, sales of cotton blend socks are expected to rise at an impressive rate of 5.6% CAGR and remain dominant over the forecast period, owing to their ability to absorb moisture and give more comfort.
Which Consumers are Driving Sales of Sports and Athletic Socks?
In terms of consumer orientation, the women segment is expected to expand at a high CAGR of 5.2%. Growing number of working-class women at a global level is expected to have a positive impact on segment growth.
The men’s category held a noteworthy market share of 46.9% in 2020. In order to maintain excellent grooming appearance, men are expected to increase spending on good quality shoe accessories such as socks.
- In 2019, Jockey launched new socks, including women low ankle socks, assorted men ankle socks, denim melange men casual socks, and other products through its website and physical stores.
Will Online Retail Drive Market for Sports and Athletic Socks?
As per industry analysis, in terms of sales channel, online sales are expected to dominate over the forecast period increasing at a highest CAGR of 5.3%.
Consumer preferences have shifted as a result of the pandemic, and instead of buying offline, they are migrating to online channels, which is driving players to expand their online presence in the market.
Furthermore, in an industry where store based retailing is still prominent the manufacturers are engaged in expanding their online presence. Manufactures are even making alliance with the sportswear retailers in order to expand their business.
- Wolverine Worldwide, Inc. developed a partnership with a Chinese sportswear retailer - Xtep International Holdings Ltd - to expand its market footprint in China.
What is the COVID-19 Impact on Demand for Sports and Athletic Socks?
Manufacturers have faced several hurdles as a result of the pandemic outbreak. In the wake of COVID-19, retailers have turned to digitizing their processes and adopting a customer-centric approach in order to drive sales.
Also, the pandemic crisis has had a major impact on the sales of sports and athletic socks in recent months. Restrictions on public gatherings and outdoor adventure activities is one of the primary factors that has had a direct influence on the sales of sports and athletic socks, causing a challenge for market players.
Players operating in the market are finding new ways to introduce their products across regions. These measures and efforts are being undertaken due to rising competition. Well-established firms are taking a hard look at their marketing strategy and executing them in collaboration with sports clubs, celebrities, and other influencers.
In light of growing sustainability awareness, manufacturers have now shifted to using sustainable raw materials. The sustainability factor is also being considered by manufacturers while designing product packaging.
Forging new strategic relations with essential players or suppliers to achieve major market presence will be an ongoing trend in this space.
Sports and Athletic Socks Market Report Scope
Historical Data Available for
US$ Mn for Value
Key Regions Covered
Key Countries Covered
Key Segments Covered
Key Companies Profiled
Available upon Request
Segments Covered in Sports and Athletic Socks Industry Survey
- Running Socks
- Snow Sports Socks
- Soccer Socks
- Basketball Socks
- Cycling Socks
- Fitness Socks
- Casual Sports Socks
- Golf Socks
- Hockey Socks
By Consumer Orientation
- Sports and Athletic Socks for Men
- Sports and Athletic Socks for Women
- Unisex Sports and Athletic Socks
- Sports and Athletic Socks for Kids
- Cotton Blend Sports and Athletic Socks
- Synthetic Blend Sports and Athletic Socks
- Wool Blend Sports and Athletic Socks
By Sales Channel
- Online Sales of Sports and Athletic Socks
- Direct to Customer Sales
- Third-party Sales
- Offline Sales of Sports and Athletic Socks
- Franchised Stores
- Independent Stores
- Mono-Brand Stores
- Specialty Stores
- Hypermarket/ Supermarket
- Convenience Stores
- Departmental Stores
- Other Sales Channel
- FAQs -
The sports and athletic socks market is currently valued at over US$ 7.3 Bn.
Holding more than 42% market share, Nike, Inc., Adidas AG, VF Corporation, PUMA SE, and Jockey International Inc. are the top 5 manufacturers of sports and athletic socks.
The global market for sports and athletic socks increased at 3% CAGR from 2016 to 2020.
Inclination of consumers toward natural fabrics and availability of socks with special features are key trends in this space.
Top 5 countries driving most of the demand for sports and athletic socks are the U.S., U.K., Russia, Australia, and China.
North America held a significant share of 18.5% in 2020, and this regional market is expected to rise at a CAGR of 3.2% through 2031.
The European market for sports and athletic socks is expected to expand steadily at a CAGR of 3.7% over the next ten years.
Key exporters of sports and athletic socks are China, Italy, Germany, France, and the U.S.
Market analysis reveals that year-on-year demand growth in South Korea was 3.2% in 2021, whereas, the Japan market is set to progress at a CAGR of 6.6% through 2031.