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Global Market Study on Socks Market - Athletic Socks Segment to Register High Growth
MRRSE
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In this research report, there is an established correlation between the growth of the global socks market with the trends, macroeconomic factors, developments, drivers, challenges and restraints and other regulations, which have a strong influence over the global market expansion. Moreover, key players in the market have also been studied to understand new product development innovations, expansion intelligence, mergers and acquisitions, etc. Actionable intelligence coupled with precise forecasts presented in the research study can be used to slate different strategies to gain competitive edge. A high level market segmentation is carried out with the help of which a complete market scenario exploring different angles in the above mentioned regions is chalked out and a global market perspective established.
Global Socks Market: Dynamics
Continuous product innovation has brought about a paradigm shift in the socks industry. Different types of socks with characteristics such as anti-fungal or anti-bacterial properties along with comfort of wearing, high tensile strength, reduced weight, heat resistant etc. are available in the global market. Advancements in knitting technologies have made it possible to manufacture different types of socks. There has been an increase in the awareness of wearing socks due to the inherent benefits. A rapidly growing sports industry has led to an increase in the demand for socks, thus elevating the growth of the global socks market. There is a high consumer demand for socks made from less synthetic material and this has impacted the growth of the global socks market. Also, an increasing disposable income has facilitated people to purchase branded socks for various activities, thereby increasing the overall consumption of socks. Further, enhanced protection, durability and comfort offered by various brands and introduction of new socks with additional features with the help of celebrity endorsements (typically famous athletes) has contributed to the growth of the global socks market.
Global Socks Market: Forecasts
The global socks market is anticipated to witness a robust growth rate and is poised to be valued at US$ 35 Bn by 2025 end from US$ 20 Bn in 2017, with a CAGR of 6.2% throughout the period of assessment.
For more information about this report visit: https://www.mrrse.com/global-socks-industry
Global Socks Market: Segmental Highlights
The global socks market is segmented by product type (athletic socks, formal socks, casual socks and specialty socks), end user (kids, women and men), base material (cotton, nylon, polyester, wool, spandex, acrylic and others), length (liner, no show, mid-calf/crew, quarter/anklets and knee high), sales channel (retail apparel chains, independent retail outlets, monobrand outlets, supermarkets/hypermarkets, multibrand outlets, online retailers and other channels) and region.
Athletic socks segment is anticipated to register a high growth rate among other segments, and is poised to grow at a CAGR of 8.0% during the forecast period 2017-2025. However, the casual socks segment is anticipated to reflect higher market share and is poised to register a CAGR of 5.8% during the assessment period
Specialty socks segment is likely to witness substantial growth in terms of value to register a 6.6% CAGR throughout the period of assessment. Formal socks segment is poised to experience sluggish growth with respect to revenue
Asia Pacific (APAC) region is anticipated to show dominance in the global socks market during 2017-2025 with a 7.8% CAGR by value and 7.1% CAGR by volume. This growth dominance can be attributed to an increasing awareness of different brands, increase in disposable income and a growing young population especially in the populated countries of India and China
Global Socks Market: Competitive Landscape
The global socks market research report profiles several key players such as Renfro Corporation, Gildan Activewear Inc., The Phillips-Van Heusen Corporation, Kering Group, Nike, Inc., Adidas AG, ASICS Corporation, Hennes & Mauritz AB, Gap, Inc., Hennes & Mauritz AB, Hanesbrands, Inc., Industria de Diseno Textil SA, Delta Galil Industries Ltd., Carter's, Inc., VF Corporation, Stance, Inc., Under Armour, Inc., FALKE KGaA, BLACKSOCKS SA and Jockey International, Inc.
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