Market overview
The Global Waterproof Socks Market 2020 is projected to reach USD 7,857.8 billion by 2027, at a CAGR of 7.10% over the review period.
Market Highlights
The steady market for socks has inspired makers to come up with imaginative goods. Among the targeted customers interested in walking, climbing, camping, mountain biking, winter sports and river rafting, waterproof socks are gaining popularity. In the healthcare sector, the market for waterproof socks is also growing attributable to antimicrobial functionality. Market development is driven by the rising demand for multifunctional clothing and accessories that are windproof, durable and breathable for outdoor activities such as winter sports and mountain biking. In order to expand their client base, industry leaders often take advantage of the rise of online platforms.
A substantial share of the global Waterproof Socks Market Report is accounted for by online discount outlets and e-commerce sites. Consumers enjoy shopping online as it allows ease and distribution at the doorstep. This offers industry competitors with a lucrative chance to demonstrate their goods online. The growth of online discount outlets such as Walmart and Amazon.com Inc. is further affecting the growth of the waterproof socks industry. During the forecast era, the large product selection, offers, and discounts provided by industry leaders and online retailers are expected to fuel the market 's growth.
However, low market penetration limits the development of the global waterproof socks market in developing countries such as Brazil, Mexico, India , Thailand, Peru, and South Africa.
Segmental Analysis
The global Waterproof Socks Market Research report has been segmented based on material and end-use.
The market has been segmented into nylon, polypropylene, wool, bamboo rayon based on the material. Nylon is considered the largest segment of the market.
The end-user segment comprises adults and children. The adult segment is the largest, and it is also expected to register the higher CAGR during the review period.
The market based on the distribution channel is bifurcated into store-based and non-store based. The store-based segment accounted for the larger share of the global waterproof socks market. The non-store-based segment is expected to register a higher CAGR during the forecast period.
Regional Overview
In 2019, North America has the highest market share in the worldwide market for waterproof socks, which is expected to remain a leading market until 2025. The market is expected to drive the increasing demand for sportswear in this area.
In Europe, the rise of the global Waterproof Socks Market Report is driven by the success of adventure sports in Germany , Italy, and the UK.
The Asia Pacific ( APAC) area is another region that will experience development, generating untapped possibilities for global waterproof socks market players to make the most of. A large share of the overall waterproof socks industry is accounted for by the Asia-Pacific market. During the forecast period, the regional market is expected to show the highest CAGR. The launch of revolutionary products by foreign players in the industry is expected to fuel the waterproof sock market's development in the Asia-Pacific region in the coming years. In the country, there is a marked rise in disposable incomes. It is a direct result of a variety of developed regions' positive economic results. This increases the purchasing power of individuals who can now afford to partake in many athletic events and afford luxury equipment.
The rising customer demand for multifunctional footwear and the disposable income in the Rest of the World segment is driving the growth of the region's waterproof socks industry.
Competitive Analysis
Recreational Equipment, Inc. (Sealskinz, Showers Pass, DexShell) (US), Annapolis Performance Sailing Ltd. (Gill) (US), Wildfire Sports Trek (Antu) (Australia), Reed Chillcheater (UK), Rocky Brands (US), Wigwam Corporation (US), Camaro GesmbH (Austria), Renfro Corporation (US), Seavenger (US), Henderson Neosport (US), NRS (US), Bridgedale Outdoor Ltd (UK), Footland Inc. (Taiwan), Lennon Performance Products Ltd. (UK), and Northern Diver (UK).
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