Published on : Mar 04, 2016
The global market for socks holds a negligible position in the overall apparel industry. A large percentage of this market is still unorganized, which has been hindering this market to report a steady growth since long. The low volume of production has also been a block on the road for the global socks market.
Asia Pacific to Maintain Leadership in Global Socks Market
Asia Pacific dominated the global socks market in 2015, owing to a robust demand and supply dynamics. Analysts have projected this market to maintain its leadership in the coming years. The soaring demand for socks in Asia Pacific, fueled by its huge base of population, is propelling the Asia Pacific socks market. In addition to this, the economic development and the increasing number of retail outlets in various Asian countries such as China, Malaysia, India, and Singapore are likely to boost the sales of socks significantly over the next few years.
Europe, on the other hand, is projected to lose its market share considerably. The decline of the pace of industrial development and the decreasing disposable income, triggered by its economic slowdown, are likely to impact on the overall socks market in Europe negatively in the near future. However, the socks market in North America is anticipated to experience steady growth in future. The market for socks in the Rest of the World is predicted to be driven by Brazil and Saudi Arabia.
Demand for Waterproof Breathable Membrane Socks to Rise in Future
Nylon socks, cotton socks, polyester socks, wool socks, and waterproof breathable membrane socks are the key products available in the global socks market. Cotton socks and wool socks are the most demanded types of socks across the world. However, the growing demand for waterproof breathable membrane socks is likely to drive this segment substantially in the coming years.
ASICS Corp., Cole and Parker Co., Thai Socks Co. Ltd., Nike Inc., Puma SE, and Adidas are some of the key producers of socks in the global arena.