The socks industry is a segment of the fashion and textile industry that is dedicated to the design, manufacturing, and sale of socks. Socks are a type of clothing that are worn on the feet, and they serve several purposes, including providing comfort, warmth, and protection. The global Socks Market is driven by factors such as changing fashion trends, increasing sports and fitness activities, and growing awareness about foot hygiene.
The socks market is a significant segment of the fashion and textile industry. The global socks market is expected to grow at a CAGR of around 6% during the forecast period of 2021-2026. The increasing demand for socks in the sports and fitness industry, along with the growing adoption of socks as a fashion accessory, is driving the growth of the socks market. The rise in disposable income and changing fashion trends are also contributing to the growth of the socks market.
Based on the type of socks, the socks market is segmented into athletic socks, casual socks, and formal socks. Among these, athletic socks hold the largest market share due to the increasing participation in sports and fitness activities. Based on the distribution channel, the socks market is segmented into offline and online channels. The online segment is expected to witness significant growth during the forecast period due to the rising penetration of e-commerce platforms.
Some of the key players operating in the socks market include Adidas AG, Nike Inc., Puma SE, Renfro Corporation, Under Armour Inc., Hanesbrands Inc., Jockey International Inc., and ASICS Corporation. These companies are adopting various strategies, such as product innovation, mergers and acquisitions, and partnerships and collaborations, to maintain their market position and increase their market share.
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