From 2015 to 2019, the Hiker Socks and yoga socks market grew at a CAGR of 4.6%, and the outlook for this industry is positive going forward. Since these socks offer the compression and grip required for physical activities like hiking and yoga, their use is predicted to grow. Manufacturers are working to create socks that are as comfortable as possible for customers.
Additionally, it is anticipated that the multipurpose character of these socks will fuel sales development in the upcoming years. In addition to yoga and hiking, these socks can be worn for a variety of sports, dancing, etc. Sales of hiker socks and yoga socks market are anticipated to grow at a CAGR of over 6% starting in 2020, according to Persistence Market Research’s estimate.
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The market research and consulting firm Persistence Market Research provides in-depth insights into the factors and constituents influencing hiker socks and yoga socks sales, which are particularly high in the commercial sector, in its latest study. The study analyses the market in more than 20 fast-growing nations and examines how emerging coronaviruses have affected the parent industry generally and hiking socks and yoga socks specifically.
Sales of hiking and yoga socks are anticipated to increase as more people participate in outdoor sports. According to the most recent data from the US Bureau of Labor Statistics, on typical days, people in educated categories are more likely to engage in sports and exercise. Walking and yoga are two of the top ten most popular activity categories. These figures alone show that rising outdoor and physical activity involvement is anticipated to fuel market expansion in the upcoming years.
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Category-wise Insights
Which Hiker Socks and Yoga Socks Category Dominates the Market?
Among the products, crew socks, in terms of volume, currently account for a significant share of 45.3% in the market. Crew socks are considered as the classic height, and are slightly higher than ankle socks, thus providing utmost protection against abrasion with boots. This is one of the major reasons why the adoption of crew socks is more as compared to other socks.
Which Sock Material is Expected to Be Most Sought-after?
In case of material, wool is the most popular sock material. As per the analysis, the segment held a significant share of 30.5% in 2019. Wool, as a material, is highly recommended by footwear specialists, as it regulates temperature and also provides proper cushioning. Besides, the material also has natural anti-microbial properties, thus retaining less smell as compared to other fibers. All these factors have made wool a preferred material for hiker socks and yoga socks. The wool material category is expected to register a significant CAGR of close to 8% over the forecast period.
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Companies
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- Adidas Group
- Nike, Inc.
- Puma SE
- VF Corporation
- Darn Tough
- Farm to Feet
- Patagonia, Inc.
- Icebreaker
- Wrightsock
- Elicit Brands, LLC
- Implus LLC
- Injinji, Inc.
- ToeSox, Inc.
- Other Players (As requested)
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