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Socks Market size was valued at USD 44.8 billion in 2022 and is poised to grow from USD 47.62 billion in 2023 to USD 77.64 billion by 2031, growing at a CAGR of 6.30% during the forecast period (2024-2031).

The socks market is a highly competitive industry with a large number of regional and international players. Market players are adopting various strategies such as product innovation, collaborations, and acquisitions to gain a competitive edge. The industry is characterized by intense competition, with companies competing based on product quality, price, and brand image. Additionally, the growing trend of e-commerce has enabled market players to expand their reach and increase their market share. The competition is expected to intensify further in the coming years, driven by the increasing demand for high-quality and fashionable socks. 'Nike Inc. (US)', 'Adidas AG (Germany)', 'Puma SE (Germany)', 'Hanesbrands Inc. (US)', 'Under Armour Inc. (US)', 'ASICS Corporation (Japan)', 'Renfro Corporation (US)', 'Gold Toe-Moretz LLC (US)', 'Balega International LLC (US)', 'Renfro Corporation (US)', 'Wigwam Mills Inc. (US)', 'Jockey International Inc. (US)', 'Gildan Activewear Inc. (Canada)', 'Lululemon Athletica Inc. (Canada)', 'Icebreaker Holdings Limited (New Zealand)', 'Smartwool Corporation (US)', 'The North Face (US)', 'Stance Inc. (US)', 'Bombas LLC (US)', 'Champion (US)', 'In March 2023, Nike unveiled a new line of smart socks that use sensors to track and analyze foot movement during exercise.', 'In January 2023, Puma announced the release of a new line of socks made from sustainable and recycled materials.', 'In September 2022, Hanes announced the launch of a new line of moisture-wicking socks for men and women.', 'In June 2022, Bombas announced a new partnership with Target to sell their socks in select stores and online.', 'In April 2022, Under Armour launched a new line of compression socks designed for athletes.'

One major driver of the socks market is the increasing disposable income of consumers worldwide. With rising income levels, consumers are willing to spend more on fashion, clothing, and socks. This has led to a surge in demand for premium and luxury socks, driving the growth of the market. Additionally, the growing popularity of online shopping platforms and the ease of access to a wide range of socks has further boosted the market's growth.

One key market trend in the socks market is the increasing demand for sustainable and eco-friendly socks. With the growing awareness of environmental sustainability, consumers prioritize products made from sustainable materials and produced using eco-friendly processes. This trend has led to the development of sustainable sock materials such as organic cotton, recycled polyester, and bamboo. Major market players increasingly offer sustainable stock options to cater to changing consumer preferences. The trend is expected to continue in the coming years, driven by the increasing demand for environmentally responsible products.

North America dominated the socks market. The region has a well-established textile industry and a strong consumer base with high disposable incomes. Additionally, the presence of major market players and the growing trend of e-commerce has contributed to the growth of the regional socks market.

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Global Socks Market

Product ID: SQMIG30L2088