The global socks market was valued at USD 47.08 billion in 2023 and is projected to expand to USD 73.69 billion by 2030, reflecting a CAGR of 6.8% over the forecast period from 2024 to 2030.

 

Market Drivers and Trends:

  • Formal Wear Demand: The increasing global emphasis on maintaining formal attire among white-collar professionals is a significant catalyst for market growth.
  • Health and Fitness Spending: Rising adult expenditure on health and fitness fuels demand for various footwear accessories, notably sports socks and ankle socks.
  • Diabetic Foot Care: Growing medical concern over foot disorders and ulcers related to diabetes is promoting the utility of specialized, innovative sock solutions as a critical foot-caring medium. Companies like Dr. Oxyn and Podolite are launching custom diabetic socks to mitigate the risk of foot ulcers, infections, or potential amputation.
  • Emerging Economies: The increasing establishment of corporate offices in developing nations—including China, Bangladesh, India, and Mexico—due to supportive investment policies, is a favorable factor for industry expansion.
  • Market Restraint: The growing demand for non-shoe footwear, such as sandals and slippers, poses a challenge to market growth.

 

Key Market Trends & Insights

  • Regional Dominance (Europe): The Europe Socks industry was the global leader in 2023, capturing the largest revenue share of 30.0%. This dominance is fueled by rapid economic growth leading to fast industrial expansion and high disposable income levels. Furthermore, shifting lifestyles and new fashion trends, including a rise in the use of footwear, contributed significantly to the European socks market.
  • Leading Country Market (UK): The socks market in the UK accounted for a revenue share of 13.8% within the European market. The industry is poised for growth here as fashion-conscious consumers, heavily influenced by trends, actively seek premium-quality socks options.
  • Product Segment (Casual): By Product, the casual product segment was the largest and accounted for the largest revenue share of around 53.8% in 2023. Casual socks are comfortable and versatile, suitable for everyday wear. They are typically manufactured from a blend of cotton, wool, or synthetic fibers and are available in a variety of colors and patterns.
  • End-user Segment (Men’s): By End-user, Men’s socks dominated the market, accounting for a revenue share of nearly 63% in 2023. Men demonstrate a higher preference for formal socks compared to women. Other categories are purchased based on individual style and regular activities.
  • Distribution Channel (Hypermarkets and Supermarkets): By Distribution Channel, the hypermarkets and supermarkets segment dominated the market with a share of 56.4% in 2023. Consumers primarily consider the product life cycle and the price/value factor during purchase, and they find retail shops the most convenient place to try, check products, and finalize a buying decision.

 

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Market Size & Forecast

  • 2023 Market Size: USD 47.08 Billion
  • 2030 Projected Market Size: USD 73.69 Billion
  • CAGR (2024-2030): 6.8%
  • Europe: Largest market in 2023
  • Asia Pacific: Fastest growing market

 

Key Companies & Market Share Insights

Global socks market features a mix of well-established international corporations and numerous local/regional players. Top companies include Nike Inc., Puma S.E., Adidas A.G., Asics Corp., Skechers USA, Inc., Hanesbrands Inc., Under Armour, Inc., VF Corp., Jockey International Inc., and Drymax Technologies Inc. These key players compete by focusing on sustainability, performance enhancements, and unique style propositions to capture consumer interest in this dynamic, fashion-forward industry.

 

Key Players

  • Nike Inc.
  • Puma S.E.
  • Adidas A.G.
  • Asics Corporation
  • Skechers USA, Inc.
  • Hanesbrands Inc.
  • Under Armour, Inc.
  • VF Corporation
  • Jockey International Inc.
  • Drymax Technologies Inc.

 

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Conclusion

The global socks market is poised for robust expansion, with its valuation expected to rise from USD 47.08 billion in 2023 to USD 73.69 billion by 2030 at a 6.8% CAGR. This growth is primarily underpinned by two major forces: the persistent demand for formal wear among white-collar professionals, and a significant increase in consumer focus on health and wellness, driving the market for specialized and athletic socks, including innovative diabetic foot-care solutions. While growth may be partially curtailed by the rising popularity of sandals and slippers, the dominance of the casual product segment and Men's socks (63% revenue share in 2023) continues to define the market. Europe led the market regionally in 2023, but increasing corporate penetration in Asia-Pacific economies offers a favorable future trajectory. Competition among key players remains centered on delivering enhanced performance, unique style, and sustainability.