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Socks Market Size to Reach $73.6 Billion by 2030: Grand View Research, Inc.
As a result, some of the companies including Dr. Oxyn and Podolite have launched customized diabetic socks to reduce the risk of foot ulcers, which function as a root cause of infections, or amputation. The presence of corporate offices in emerging economies including China , Bangladesh , India , and Mexico , due to supportive policies to promote investments at a domestic level, is expected to remain a favorable factor for industry growth. However, increasing demand for footwear, such as sandals and slippers, is hindering the growth of this market. Rising demand for specialized socks along with the increasing awareness about fitness & health in various regions will create development opportunities for the industry over the forecast period.
Industry development is likely to be higher in emerging regions due to the increasing penetration of corporate offices, which creates ample growth opportunities for the market. The COVID-19 pandemic has impacted the industry, as the product demand was decreased globally. With the lockdown and movement restrictions, socks sales were drastically impacted. However, top players reinvented their product lines and most of them utilized the lockdown period to innovate their production and retail approach. The demand for socks is significantly influenced by changing fashion and style trends. As people seek to stay up-to-date with the latest trends and styles, they often purchase new socks that match their fashion preferences. Socks with colourful patterns or bold designs may be popular in one season, while plain and classic styles may be preferred in another.
This trend-driven demand creates opportunities for companies to introduce new sock designs and styles to capture consumer interest and generate sales. Socks designed for specific sports or fitness activities are gaining popularity among enthusiasts. These specialized socks offer benefits, such as improved performance, increased comfort, and reduced risk of injury. For instance, compression socks worn during exercise can improve blood circulation and help prevent swelling and soreness in the feet and legs. As more people engage in sports and fitness activities, the demand for specialized socks is expected to grow, providing opportunities for companies that cater to this niche market.
Grand View Research has segmented the global socks market on the basis of product, end-use, distribution channel, and region:
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Sherry James
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Grand View Research, Inc.
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