Socks Market Sluggish Growth Rate Foreseen by 2024-2031

The global socks market is anticipated to grow at a considerable CAGR of 6.1% during the forecast period (2023–2030). The major factor assisting the market's growth is the growing working population. According to World Bank Data, in 2021, there were around 3.46 billion working professionals. Owing to the rising penetration of corporate offices, industry development is projected to be stronger in emerging countries, generating sufficient potential for the market. The reason behind that is that individuals in the workplace tend to adopt a standard dress code, which comprises professional clothes with shoes and socks. 

Similarly, the school- and college-age population also follow a dress code. According to the National Center for Education Statistics, about 49.5 million students in prekindergarten through grade 12 were enrolled in public schools in the US in 2021. Additionally, the overall enrolment in higher education in India had climbed to roughly $41.4 million in 2020-21 from $38.5 million in 2019-20, according to the Indian Ministry of Education. As per the same source, the number of universities and colleges in 2020-21 had grown by 70 and 1453, respectively.

Besides, athletic activities are also on the rise, increasing the demand for sports socks. For instance, the International Olympic Committee anticipates that 10,500 athletes from 206 countries will compete in the 2024 Summer Olympics Games in Paris. The market will also benefit from rising demand for specialty socks as well as increased awareness about fitness and health in various countries. 

Companies such as GripGrab, DexShell, Rocky, Camaro GesmbH, and others also offer innovative socks to further the market's growth. For instance, there are moisturizing socks, waterproof socks, and mud-proof socks. Waterproof and mud-proof socks are generally preferred by mountaineers, athletes, skiers, and others.

To Request a Sample of our Report on Socks Market:  https://www.omrglobal.com/request-sample/socks-market

Market Coverage           

•The Market Number Available for – 2023-2030

•Base year- 2023

•Forecast period- 2024-2031

Segment Covered- 

• By Product Type
• By Material
• By Distribution Channel

Regions Covered-

• North America
• Europe
• Asia-Pacific
• Rest of the World

•             Competitive Landscape- Adidas AG, Asics Corp., Balega, Darn Tough, Drymax Technologies Inc., Gildan Activewear Inc., and others.

Socks Market Report Segment

By Product Type

• Casual Socks
• Formal Socks
• Athletic Socks

By Material

• Nylon
• Cotton
• Wool
• Polyester
• Others

By Distribution Channel

• Online
• Offline

A full Report of Socks Market is Available @  https://www.omrglobal.com/industry-reports/socks-market

Socks Market Report Segment by Region

North America                                                                                                           

·        United States

·        Canada                     

Europe

·        UK

·        Germany

·        Spain

·        France

·        Italy

·        Rest of Europe

Asia-Pacific

·                  India

·                  China

·                  Japan              

·                  South Korea

·                  Rest of APAC

Rest of the World

•Latin America

•Middle East and Africa 

Company Profiles 

• Adidas AG
• Asics Corp.
• Balega
• Darn Tough
• Drymax Technologies Inc.
• Gildan Activewear Inc.
• Hanesbrands Inc.
• Jockey International Inc.
• Nike Inc.
• Puma SE
• Renfro Corp.
• Skechers USA, Inc.
• Thorlo Inc.
• Under Armour, Inc.
• United Legwear & Apparel Co.
• VF Corp.

Reasons to buy from us –

1.  We cover more than 15 major industries, further segmented into more than 90 sectors.

2.  More than 120 countries are for analysis.

3.  Over 100+ paid data sources mined for investigation.

4.  Our expert research analysts answer all your questions before and after purchasing your report.

For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/socks-market

About Orion Market Research 

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari

Email: info@omrglobal.com

Contact no:  +91 7803040404

Article source: https://article-realm.com/article/Business/58593-Socks-Market-Sluggish-Growth-Rate-Foreseen-by-2024-2031.html