Ever-increasing sales of athletic & sports footwear is one of the main drivers of the athletic & sports socks market. Moreover, increased participation in games has created heightened demand for sport-specific socks, backed by innovative product launches such as anti-bacterial, anti-fungal, and antimicrobial protected athletic & sports socks; and advance fit, anti-slip wedge, and blister protection socks. In March 2019, FITS®, an American manufacturer of socks, launched eleven new performance socks for running and hiking, under its athletic & sports socks segment.
Worldwide sales of athletic & sports socks reached US$ 5 Bn in 2018. According to PMR’s report, the athletic & sports socks market is estimated register a CAGR of 5.5% during the forecast period of 2019-2029.
Key Takeaways of Athletic & Sports Socks Market Study
- Running socks are expected to remain the largest segment in the product type category, owing to increasing health & fitness activities and high adoption of these for general sports and activities such as running, gymming, and jogging.
- East Asia is expected to erode some market share of Europe (highest market share in 2019) to become the leading region by 2029. High rate of sports participation, government focus on sports activities, and improved sports infrastructure in China will help East Asia become market leading region in the global athletic & sports socks market.
- Lucrative price point, multi-vendor presence, doorstep delivery, and product comparison attributes are expected to drive online sales channels at a higher CAGR as compared to offline sales during the forecast.
“Integration of smart technologies is expected to change the sports landscape. Manufacturers of athletic & sports socks can benefit in this scenario by introducing innovative products such as smart shoes. Moreover, multipurpose socks (that can be used for running, hiking, and other adventure sports) are identified as profitable products,” says a PMR analyst.
Athletic & Sports Socks Market: Competitive Landscape
PMR’s report underlines groundbreaking insights into the competitive scenario of the athletic & sports socks market, along with highlights of manufacturers’ differential strategies. Key players in the athletic & sports socks market will continue to draw upon the global sustainability drive by including ‘recycled and ‘organic’ offerings in their existing portfolios, which is likely to help them gain customer confidence. Ecosox, a brand of JAG Companies, Inc., manufactures plastic recycled sports socks.
Some of the key players identified across the value chain of the global athletic & sports socks market include Nike Inc., Adidas AG, Puma SE, Skechers U.S.A., Inc., Under Armour®, Inc., ASICS America Corporation, Wolverine Worldwide, Inc., New Balance Athletics, Inc., Jockey International, Inc., and VF Corporation.
Know More About Athletic & Sports Socks Market Report Inclusions
Persistence Market Research released a new market report on the athletic & sports socks market, covering global industry analysis for 2014-2018 and forecasts from 2019–2029. This report on the athletic & sports socks market provides compelling insights on the basis of product (running socks, snow sports socks, soccer socks, basketball socks, cycling socks, fitness socks, casual sports socks, golf socks, and hockey socks), material (cotton blend, synthetic blend, and wool blend) sales channel (online and offline), and by consumer group (men, women, unisex, and kids), across seven regions. The report on the global athletic & sports socks market also includes forecast factors and vital macroeconomic factors that are anticipated to boost growth of the global market. The report also addresses restraints that are projected to hinder the growth of the athletic & sports socks market, along with the latest trends and potential opportunities in the market.
For additional insights on how growth of the athletic & sports socks market will unfold over the next decade, write to the analyst at email@example.com
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