Europe Socks Market is currently valued at 10.3 Billion USD in 2019. The market is expected to grow at a CAGR of 8.2% over the forecast period to reach a valuation of 22.7 Billion USD in 2024.
The Europe socks market is changing fashion trends around the globe, prompting market players to introduce different lengths of socks such as no-shows, zipper socks and anklets. Consumers are now more conscious of allergies to synthetic fabrics, as they prefer socks with less artificial components and more natural components. Keeping this in mind, key players in the global market are now concentrating on providing organic, eco-friendly and skin-friendly socks.
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Europe Socks Market by Product
Europe Socks Market by Application
Europe Socks Market by Distribution Channel
Hypermarket & Supermarket
Europe Socks Market by Region
Rest of APAC
Casual goods had a share of 33.9 percent in 2018. The high ease of integration of these items, as they can be used with any clothing, is expected to remain a favorable variable for the industry. In addition, a growing number of consumers use casual socks made of polyester and nylon due to their comfort and ease of access from both offline and online platforms.
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The athletic segment is expected to increase by 8.5 percent from 2019 to 2024 at the fastest CAGR. Such materials are favored by athletes and fitness practitioners as they are capable of protecting blisters and preventing legs from sliding in their feet.
In 2018, men accounted for the largest share of 37.4 percent. Items such as patchy and studded are slowly gaining acceptance in the men's segment. This segment is expected to see growth as a result of the adoption of casual and business suits.
Hypermarket and the supermarket contributed 41.8 percent of international sales in 2018. Consumers prefer to purchase products from hypermarkets and supermarkets because of the availability of different types of products from different suppliers in one place.
KEY MARKET PLAYERS:
The key players in Europe Socks Market include
Drymax Technologies Inc.
Under Armour Inc.
The research done takes place in two phases namely-
Secondary Research The first phase of the research process is extensive secondary research and identification of the related intelligence. Secondary data is compiled from various sources. Extensive secondary research helps in generating hypotheses and identifying critical areas of interest that are investigated through primary research.
Primary Research This entails conducting hundreds of primary interviews with industry participants and commentators in order to validate the data points obtained from secondary research and to fill the data gaps. A primary interview provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc. It also helps in deciding the scope and deliverables of the study in terms of the requirement of the market. Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies.