Tag: Casual

Socks Market Size Worth $63.5 Billion By 2025

The global socks market size is expected to reach USD 63.5 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.0% over the forecast period. Growing demand for various footwear products, particularly athletic shoes, as a result of increasing spending among working class adults on gym training and outdoor sports activity is expected to have a positive impact on the market growth. Additionally, rising concerns over adverse effects associated with foot ulcers among diabetic patients at a global level is projected to promote the utility of advanced sock variants as a foot protective medium in the near future.

Casual variants dominated the socks market for the year 2018. Growing inclination among adults towards casual socks in new color designs as a result of new product launches by socks manufacturing companies in e-commerce portals is expected to have a positive impact on the segment growth. Furthermore, increasing awareness among the youth population of developed economies including U.K. and Germany regarding wearing socks during night in order to prevent hot flashes and improve cracked heals is expected to remain a key trend.

Asia Pacific accounted for the largest share of global revenue in 2018. Expansion of middle class income groups in emerging economies including China and India is expected to remain a key driving factor for the market. Furthermore, positive outlook towards the sports industry in countries including China, India, and Australia as a result of increasing number of sports events including Indian Premier League (IPL) and Big Bash League is expected to open new avenues over the next few years.

Key manufacturers in the industry include Nike Inc.; Puma S.E.; Adidas A.G.; Asics Corporation; Renfro Corporation; THORLO, Inc.; Hanesbrands Inc.; Balega; Drymax Technologies Inc.; and Under Armour, Inc. Companies are pursuing efforts on designing new products to increase their market share.

For instance, in 2018, Kickstarter, PBC launched 10 abstract designed socks under the brand, Say Possible. Furthermore, Black Socks SA launched premium socks collection in 2017. The company also provides subscription option where they will deliver these products at customer’s door step after a particular period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/socks-market

Further key findings from the study suggest:

  • Formal products accounted for more than 30.0% share of the global socks market revenue in 2018
  • Athletic variants are projected to ascend at a CAGR of 6.7% from 2019 to 2025
  • The women segment is expected to expand at the fastest CAGR of 6.7% from 2019 to 2025
  • Asia Pacific is expected to exhibit the fastest CAGR of 7.2% from 2019 to 2025.

Kids Footwear Market Size Worth $59.2 Billion By 2025

The global kids footwear market size is expected to reach USD 59.2 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.2% over the forecast period. Growing middle class population, along with rise in the disposable income, is anticipated to boost the growth of the market over the forecast period. The market is driven by use of the trendy and attractive lifestyle footwear, especially for children. In addition, use of the conventional cotton products in manufacturing baby footwear to provide comfort has been driving the sales of the products in the market.

Various design stores, fashion stores, and mass merchandisers have contributed to the sales and offers of the footwear for toddlers in the market. Moreover, the extra space provided for the children wear in the offline and online segments across the industry is anticipated to contribute to the growth over the forecast period. In addition, the children wear section in the shops involve up to 17% of the space and around 16% of the general deals, thereby contributing to the sales in the market.

Kids footwear products in North America are anticipated to ascend due to the rise in the sales of retail child products in the clothing and apparel market. In U.S., the retail sales in apparel stores surpass USD 15 billion on a monthly basis. Moreover, rise in the number of footwear innovations for the women section in the market has likewise been added to the girls wear due to the similar pattern and trending style.

Rising interest in the apparel and footwear products among children due to trendy lifestyle, product innovations, and high disposable income will drive the market in the coming years. Organizations are expanding their geographical reach so as to increase the sales of their products in the market.

The market is recognized by few initiatives such as limited extension, mergers and acquisitions, and online sales and development. Key players in the business include Nike, Inc.; The Children’s Place; Crocs Retail, LLC; Stride Rite; New Balance; Converse; Puma SE; ASICS America Corporation; SKECHERS USA, Inc.; and Adidas AG.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/kids-footwear-market

Further key findings from the report suggest:

  • In terms of revenue, casual footwear accounted for the largest share of 46.0% in the year 2018
  • By end user, the boys segment dominated the global market with an overall share of 47.2% in the year 2018
  • North America dominated the global kids footwear market in 2018, accounting for 34.4% share of the overall revenue. This trend is projected to continue over the next few years
  • The market in Asia Pacific is anticipated to witness significant growth due to increasing disposable income in countries such as India, South Korea, China, and Japan
  • The industry is highly competitive in nature with the main players including Nike, Inc.; The Children’s Place; Crocs Retail, LLC; Stride Rite; New Balance; Converse; and Puma SE
  • Various manufacturers are concentrating on new product launches, capacity expansion, and technological innovation to estimate existing and future demand patterns from upcoming product segments.