Global socks market size was valued at USD 42.2 billion in 2018, according to grandreviewresearch.com. In the coming years, socks are expected to expand in utility due to the increasing importance of formal attire among white-collar professionals on a global level. As a result, market growth is expected to pick up in the coming years.
In addition, increased spending on health and fitness among adults is expected to increase demand for various shoe accessories, such as sports socks and ankle socks, during workouts in gyms and health clubs. According to Sunshinesockco's Sock manufacturer, in response to increasing occurrences of foot disorders in diabetic patients, various health care professionals have increased their spending on publishing various research papers on maintaining a healthy foot.
According to GrandReviewResearch.com, some companies including Dr. Oxyn and Podolite have launched customized diabetic socks to reduce the risk of foot ulcers, which can lead to infections or possible amputation. Due to supportive policies to promote investments at a domestic level, the industry is expected to see a significant increase in its penetration in emerging economies such as China, Bangladesh, India, and Mexico.
A substantial number of smartphone users in these countries has forced socks manufacturers to offer their product variants at discounted prices, along with various value-added services, including cash-on-delivery. This is further expected to drive the global socks market.