Europe Socks Market Size & Growth (2019 – 2024)
The 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.
The countries analyzed in Europe include the United Kingdom, Germany, France, Italy, Spain, Belgium, Netherlands, Rest of Europe. The Socks segment encompasses hosiery for women and men that cover the leg up to the knee. Volume is expected to be 6,760.40 m in the Socks segment until 2024.
MARKET DRIVERS AND RESTRAINTS:
Major factors which have helped drive the European Socks Market forward are-
- Increasing demand for natural fabrics and new opportunities in emerging regions.
- New fashion trends and shifts in lifestyles, such as a rise in the use of footwear.
- The growing importance of preserving formal clothing among white-collar professionals at the global level.
- Increasing spending on health and fitness among adults is projected to stimulate the market for different shoe accessories, such as sports socks and ankle socks, during workouts in gyms and health clubs.
- Increasing the use of smartphones has forced socks manufacturers to release their brand variants at discounted prices, along with numerous value-added products, including cash-on-delivery services.
- The increasing number of corporate offices in emerging economies as a result of supportive investment-promoting policies at the domestic level is expected to remain a decisive factor for the industry.
The factors holding the European Socks Market back include-
- The low market share and the reliance of socks on the selling of shoes make it an unorganized market with a high volume and a small percentage margin.
- Despite the presence of these growth prospects, the growing trend of wearing open shoes, which does not usually require socks, is restricting the growth of the global socks industry.
- The lack of knowledge of socks across rural areas of underdeveloped countries has, to some degree, hampered the development of the socks industry.
- Europe Socks Market by Product
- Europe Socks Market by Application
- Europe Socks Market by Distribution Channel
- Hypermarket & Supermarket
- Convenience store
- Europe Socks Market by Region
- United Kingdom
- 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.
- 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
- Nike Inc.
- Puma S.E.
- Adidas A.G.
- Asics Corporation
- Renfro Corporation
- THORLO, Inc.
- Hanesbrands Inc.
- 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.
Europe Socks Market Research Report Key Highlights:
- Current and future market perspectives for Europe Socks Market in developed and emerging markets.
- Analyze different market perspectives using the analysis of five Porter forces
- The segment that is expected to dominate the market.
- Regions that are expected to grow faster during the forecast period.
- Identify the latest developments, market shares, and strategies of key market participants.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.5 Y-o-Y Growth Analysis, By Product
5.1.6 Market Attractiveness Analysis, By Product
5.1.7 Market Share Analysis, By Product
5.2.4 Y-o-Y Growth Analysis, By Application
5.2.5 Market Attractiveness Analysis, By Application
5.2.6 Market Share Analysis, By Application
5.3 Distribution Channel
5.3.2 Hypermarket and Supermarket
5.3.3 Convenience Store
5.3.5 Y-o-Y Growth Analysis, By Distribution Channel
5.3.6 Market Attractiveness Analysis, By Distribution Channel
5.3.7 Market Share Analysis, By Distribution Channel
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Product
188.8.131.52 By Application
184.108.40.206 By Distribution Channel
6.1.4 Market Attractiveness Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Product
22.214.171.124 By Application
126.96.36.199 By Distribution Channel
6.1.5 Market Share Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Product
220.127.116.11 By Application
18.104.22.168 By Distribution Channel
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Nike Inc.
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Puma S.E
8.3 Adidas A.G
8.4 Asics Corporation
8.5 Renfro Corporation
8.6 THORLO Inc.
8.7 Hanesbrands Inc.
8.9 Drymax Technologies Inc.
8.10 Under Armour Inc.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures
- Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
- Europe Socks Market By Product, From 2019-2024 ( USD Billion )
- Europe Casual Market By Region, From 2019-2024 ( USD Billion )
- Europe Athletic Market By Region, From 2019-2024 ( USD Billion )
- Europe Socks Market By Application, From 2019-2024 ( USD Billion )
- Europe Men Market By Region, From 2019-2024 ( USD Billion )
- Europe Women Market By Region, From 2019-2024 ( USD Billion )
- Europe Socks Market By Distribution Channel, From 2019-2024 ( USD Billion )
- Europe Hypermarket and Supermarket Market By Region, From 2019-2024 ( USD Billion )
- Europe Convenience Store Market By Region, From 2019-2024 ( USD Billion )
- Europe Online Market By Region, From 2019-2024 ( USD Billion )
- U.K. Socks Market By Product, From 2019-2024 ( USD Billion )
- U.K. Socks Market By Application, From 2019-2024 ( USD Billion )
- U.K. Socks Market By Distribution Channel, From 2019-2024 ( USD Billion )
- Germany Socks Market By Product, From 2019-2024 ( USD Billion )
- Germany Socks Market By Application, From 2019-2024 ( USD Billion )
- Germany Socks Market By Distribution Channel, From 2019-2024 ( USD Billion )
- France Socks Market By Product, From 2019-2024 ( USD Billion )
- France Socks Market By Application, From 2019-2024 ( USD Billion )
- France Socks Market By Distribution Channel, From 2019-2024 ( USD Billion )
- Italy Socks Market By Product, From 2019-2024 ( USD Billion )
- Italy Socks Market By Application, From 2019-2024 ( USD Billion )
- Italy Socks Market By Distribution Channel, From 2019-2024 ( USD Billion )
- Spain Socks Market By Product, From 2019-2024 ( USD Billion )
- Spain Socks Market By Application, From 2019-2024 ( USD Billion )
- Spain Socks Market By Distribution Channel, From 2019-2024 ( USD Billion )