Published on : Mar 22, 2016
The growth of the global socks market is primarily attributed to the availability of variety and the rapid growth of the retail network, especially in the developing economies. In the recent past, with the arrival of luxury socks and those meant for specific applications, socks have been transformed from simple commodity products to fashion accessories. Considering the transformation of this traditional product to a luxury item, the global socks market is set for an expansion in the years to come.
The robust growth of the men’s socks segment is considered to be the major driver of the global socks market. As far as type of material used for socks is concerned, the most popular ones are nylon, wool, cotton, and waterproof. In terms of the material used, cotton socks have always been the largest contributor in the global socks market.
Thanks to the growing pool of population participating in sports, the athletic socks segment is predicted to be the largest segment in the global socks market in the years to come. Also, the demand for casual wear and office wear socks is expected to increase in the next few years.
Here are some of the factors that could propel the global socks market in the years to come.
- Thanks to the digital world, the consumer goods market has seen tremendous improvements in the recent past. Availability of a variety of socks at the online stores has helped in the growth of the global socks market since the introduction of the internet.
- Going forward, the use of synthetic fabrics to make socks is predicted to be high.
- The growing retail sector and changing lifestyle habits are expected to further boost the global socks market.
- People have become fashion friendly and prefer wearing clothes that match the latest trend. Leading players are focusing on manufacturing fashionable socks to match the changing trends and preferences of the buyers.
Considering the sustainability of natural fibers, the demand for natural fiber material is expected to be high in the years to come. Also, the demand for socks made from manmade fibers is expected to be on the higher side considering their low price. All these factors are expected to propel the global socks market in the near future.