Women’s Socks Market To Expand Industry Growth At USD 23.55 Billion By 2028
San Francisco, 18 July 2023: The Report Women's Socks Market Size, Share & Trends Analysis Report By Fiber (Cotton, Polyester), By Distribution Channel (Offline, Online), By Region (North America, Europe, Asia Pacific), And Segment Forecasts, 2022 - 2028
The global women’s Socks market size is estimated to reach USD 23.55 billion by 2028 and expand at a CAGR of 4.8% from 2022 to 2028, according to a new report by Grand View Research, Inc. Socks protect feet from germs and blisters, keep feet warm by controlling temperature and moisture, and reduce stress on feet which in turn will drive industry demand. Additionally, rising per capita income and purchasing power, and changing fashion trends across the globe are contributing to the growth of this market. Apparel manufacturers are implementing automatic machines to surge production and at the same time drop the cost related to it.
Women’s fuzzy socks are a prominent choice for most women internationally who want to stay fashionable and protect their feet. Women’s fuzzy socks are obtainable in numerous styles, sizes, colors, and shapes. A large number of star endorsements by famous brands have contributed extensively to the expansion of the market. Women’s socks are manufactured from different types of fabrics that include cotton, polyester, rubber, and nylon. Considering comfort and styles, the products are accessible in various lengths, colors, patterns, as well as designs.
During the COVID-19 pandemic, governments of different countries mandated measures for people to stay at home as a safety measure. People were at home due to the pandemic restrictions. The manufacturers were unable to supply products owing to the limited production as well as distressed supply chains. Due to this, the market experienced a shortfall in the sales of women’s socks. Considering this short limp in market revenue, it is anticipated that the market will soon observe a healthy development over the forecast period after COVID-19 restrictions.
The cotton segment contributed to the 2nd largest revenue share of the global market of more than 30.0% in 2021 and is forecast to grow with a CAGR of 5.5% from 2022 to 2028. Cotton is breathable and porous as well as largely used in the textile business to make the human body warm during a cool climate and absorb sweat. Cotton is one of the important preferences of the industry, compared to other synthetic and natural fibers as it does not have side effects on the skin and offers comfort.
Offline distribution channel contributed to the largest market share of above 75% in 2021. Offline channels consist of exclusive stores, supermarkets, hypermarkets, and retail stores. Producers and marketers use the traditional retail channel for additional sales. The segment comprises organized retail channels that are more customer-oriented and offer improved services by selling a diversity of socks directly to the end-users. Moreover, these stores offer a choice of physical confirmation of products to the customers, thus contributing to the market revenue.
Asia Pacific is estimated to expand with the fastest CAGR of 5.7% from 2022 to 2028. China and India are majorly contributing to the development of the market. With the largest growing population and increasing disposable income, the region is witnessing huge demand for apparel. Many multinational companies are expanding their foothold in this region due to low labor costs and easy availability of raw materials, which will lead to more working women population. Thus, the region is forecast to grow with the highest CAGR during the forecast period.
Access Research Report of Women’s Socks Market @ https://www.grandviewresearch.com/industry-analysis/womens-socks-market-report
Women’s Socks Market Report Highlights
- Europe contributed the largest market share of above 30% in 2021. Advanced economic nations such as Germany, the U.K., and France are majorly contributing to the market revenue.
- Cotton segment contributed to the 2nd largest revenue share of the global market of over 30% in 2021. Cotton is one of the important preferences of the industry compared to other synthetic and natural fibers as it does not have side effects on the skin and offers comfort.
- Offline distribution channel contributed to a larger market share of over 75% in 2021. The segment comprises organized retail channels which are more customers oriented and delivers enhanced services by selling a range of women’s socks directly to the customers.
Women’s Socks Market Report Scope
Report Attribute | Details |
Market size value in 2022 | USD 17.56 billion |
Revenue forecast in 2028 | USD 23.55 billion |
Growth Rate | CAGR of 4.8% from 2022 to 2028 |
Base year for estimation | 2021 |
Historical data | 2017 - 2020 |
Forecast period | 2022 - 2028 |
List of Key Players in Women’s Socks Market
- Dior
- Nike, Inc.
- Adidas AG
- H&M Hennes & Mauritz AB
- Guccio Gucci S.p.A.
- Puma SE
- PRADA
- Burberry Group Plc
- Giorgio Armani S.p.A.
- Dolce & Gabbana S.r.l.
- Gianni Versace S.r.l.
Access Press Release of Women’s Socks Market @ https://www.grandviewresearch.com/press-release/global-womens-socks-market
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