Women's Socks Market (2022 - 2028)

Women's Socks Market Summary

The global women’s socks market size was valued at USD 17.0 billion in 2021 and is expected to reach USD 23.55 billion by 2028, growing at a CAGR of 4.8% from 2022 to 2028. 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 decrease the price related to it. At the time of the COVID-19 pandemic, governments of several countries restricted or people preferred to stay at home as a safety measure. The manufacturers were unable to supply products owing to the restricted production as well as disturbed 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 during the forecast period.

Socks are commodity products. However, in the last few years, with the arrival of luxury and for particular applications, socks have changed from commodity products to fashion products. Due to the change of this traditional item into a standard/luxury product, the development of the women’s socks market outperforms the total development of the apparel sector. The development of the market is mainly credited to the fast expansion of the retail network in emerging economies such as China, Brazil, and India. The rising population along with disposable income in these countries is likely to further drive the retail industry, which in turn is swelling the demand for women’s socks.

The women’s socks are a part of clothing utilized to protect the ankle and a part of the leg. 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. There are numerous benefits to wearing socks, such as keeping the feet relaxed and free from foot problems. Moreover, women’s fuzzy socks are a famous choice for lots of women globally who want to stay stylish and protect their feet.

In the last couple of years, the demand for women’s socks augmented due to their attractiveness as well as the acceptance of clever business casuals to express professionalism in corporate workplaces. Furthermore, the growing penetration of smartphone users and the acceptance of lavish fashion brands, e-commerce, and social media websites in emerging and advanced countries is likely to increase demand for women’s socks over the forecast period. This factor has enforced numerous women’s socks manufacturers to introduce their product alternatives at discounted rates.

Growing demand for women’s socks as an important workwear accessory amongst women is anticipated to drive the target market's development. Numerous manufacturers also permit different value-added services, such as cash-on-delivery services and discounts on payment options that further increase online shopping activities. Well-developed companies are taking a hard look at their marketing strategy and performing them in association with sports clubs, celebrities, and other influencers.

Fiber Insights

The polyester segment dominated the women’s socks market and contributed to the largest revenue share of over 45.0% in 2021 and is forecast to grow with a CAGR of 4.2% from 2022 to 2028. Polyester is a synthetic type of fiber that contains compounds of the ester functional group. This fiber is obtained from petroleum and is one of the most popular fibers in the textile industry across the globe. This fiber is a durable and relatively more economic material used for manufacturing apparel products. Consumer prefers apparel made from polyester fiber, as it is resistant to all type of environmental conditions. With all these benefits, polyester is consumed the most for making apparel in the textile industry.

Others segment is forecast to grow with the 2^nd highest CAGR of 4.8% from 2022 to 2028. Others include acrylic, rubber, nylon, and wool, out of which rubber and nylon are mostly used to manufacture socks. The nylon fiber has good strength and resistance whereas rubber has a good elastic feature. Additionally, these fibers add elasticity and strength to the socks. These fibers are cost-effective and readily available. It is anticipated that the demand for the product will observe significant growth over the forecast period.

Distribution Channel Insights

Offline distribution channel accounted for a significant market share of over 75% in 2021. Offline channel include exclusive stores, hypermarkets & supermarkets, as well as retail stores. Manufacturers and sellers use the traditional retail channel for additional sales. The segment comprises organized retail channels that are more customers 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 and trials & facilities of products to the customers, thus contributing to the market revenue.

The online distribution channel is forecast to register a rapid development with a CAGR of 6.0% from 2022 to 2028. The major factors supporting the growth of this segment are authentic online shopping portals, increasing internet penetration, rising usage of smart devices, availability of economical products when compared to offline channels, and hassle-free payment options provided by e-commerce companies.

Regional Insights

Asia Pacific is forecast to grow at 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.

Europe accounted for a major market share of over 30% in 2021. Well-developed economic nations such as Germany, the U.K., and France are largely contributing to the market revenue. Financially independent women, higher per capita income, and altering fashion trends are key factors projected to impact the development of the market. Thus, this region contributes most to the market revenue.

Key Companies & Market Share Insights

The market is characterized by the presence of various well-established players and several small and medium players. Vendors are focusing on product launches to meet consumers’ expectations with changing fashion consciousness. In May 2018, United Legwear & Apparel Co., LLC, has introduced 150 different styles of women’s socks on their online portals. Additionally, vendors are trying to innovate new preservative techniques to increase the durability of the product. A maximum number of star endorsements by famous brands have contributed considerably to the development of the market. For instance, Nike endorses several sports professionals to endorse its shoe and socks products. Vendors are increasing their reach all over the globe. Such initiatives are anticipated to increase the implementation rate of the products amongst customers. Some of the prominent players in the global women’s socks market include:

• 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.

Women’s Socks Market