In a recent report by QY Research, titled, “Global Athletic Socks Market Professional Survey Report 2019” analysts have provided an in-depth understanding of the growing athletic socks market. It offers market valuation by analysing historic and forecast data. The report covers different aspects the market including market size, drivers and restrain, segment analysis, regional outlook, major players, and competitive landscape.
The global athletic socks market was valued at US$6519 mn in 2018 is expected to reach US$10671 mn by the end of 2025, rising at a CAGR of 7.32% between 2019-2025.
Global Athletic Socks Market: Drivers and Restrains
The global athletic socks market has seen a consistent market growth with the surge of sports industry. The increasing awareness among sportsmen about the benefits of athletic socks while playing sports as well as has fuelled its demand. The athletic socks are now being developed with embedded technology that are determine cause of injuries, track movement, and thus ascertain best treatment for the sports related injuries. Furthermore, these socks offers additional padding, are extremely tough, lightweight, and heat resistant, enhancing the performance and comfort of sportsmen during any sport activity. Availability of a wide range of socks for the sportsmen to suit to their needs is also boosting the global market for athletic socks.
Health benefits like prevention from fungus, bacteria, foot ulcers and other allergies by absorbing the moisture help maintain a healthy foot. It is also equipped with compression fit features enabling blood circulation in legs. Diabetic patients are also increasingly adopting athletic socks due to its various benefits. This is also contributing towards the global athletic socks market growth.
Restrains like lack of knowledge among rural areas of underdeveloped countries and availability of duplicate products at low cost are affecting the growth of global athletic socks market. However, growing number of diabetics are expected to create a lucrative opportunity for the athletic socks as they need to be extra careful of their feet.
Global Athletic Socks Market: Segment Analysis
The global athletic socks market has two segments, type and application. The type segment includes cotton blend, polyester, nylon, wool, waterproof breathable membrane, and others. The application segment includes male, female, and kids.
Global Athletic Socks Market: Regional Outlook
Regions like North America, Europe and Asia Pacific (China and Japan) are expected to occupy a large share in the global athletic socks market. Other regions like Latin America, Middle East and Africa and South America are also analysed in the report.
Global Athletic Socks Market: Major Players
The key players in the market are NIKE, Inc., Adidas AG, PUMA SE, Skechers U.S.A., Inc., Under Armour, Inc., ASICS Corporation, Wolverine World Wide, Inc., V.F. Corporation, New Balance, Inc., Hanesbrands Inc., THORLO, Inc., Jockey International Inc., Drymax Technologies Inc. and others.
Global Athletic Socks Market: Competitive Landscape
Companies are developing new strategies such as joint ventures, innovative technologies, and product development to increase their market share. They are also promoting athletic socks with other products to increase their sales growth.
For instance, Adidas AG partnered with Manchester United released its third new kit, featuring a number of design elements with reference to Manchester Rose. Along with the design the kit has Adidas manufacturer’s logo in white, the club crest are bright red, and sponsor logos embedded on it. The full kit include shirt, shorts and socks in a dominant black colour.
This strategy is targeted towards gaining more market share and retain their position in the market. These factors are expected to bring lucrative opportunities for the global athletic socks market in the future.
Full Report Overview@ https://www.qyresearch.com/index/detail/1233884/global-athletic-socks-market