The global waterproof socks market is expected to exhibit a strong 7.1% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The global market is expected to reach a valuation of more than USD 6.8 billion by 2025, according to the report. The report provides a comprehensive evaluation of the waterproof socks market by providing a thorough analysis of the leading drivers and restraints affecting the global waterproof socks market. The major players operating in the global waterproof socks market are also analyzed in the report in order to give readers a complete overview of the competitive landscape of the market. Major competitive strategies employed by leading players in the market are also profiled in the report.
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The global waterproof socks market is mainly driven by the growing demand for multifunctional apparel that can be worn in formal, informal, as well as outdoor applications. The growing popularity of activities such as hiking and trekking is likely to be a major driver for the waterproof socks market over the forecast period. As a result of the growing disposable income of consumers as well as the growing government support to the tourism and hospitality sector, the allure of outdoor activities such as cycling, trekking, and mountain climbing is increasing. These activities call for waterproof socks, as moisture-laden socks can make the user irritable and thus less able to carry on with the activity in question. Waterproof socks keep moisture away from the feet, keeping the user’s feet warm and the user in good cheer.
On the other hand, the lack of awareness about waterproof socks in developing countries and the high cost of waterproof socks in comparison to traditional socks are the major restraints on the global waterproof socks market.
Competitive Analysis:
Leading players in the global waterproof socks market include Recreational Equipment Inc., Annapolis Performance Sailing Ltd., Wildfire Sports & Trek, Reed Chillcheater, Rocky Brands, Wigwam Corporation, Camaro GesmbH, Renfro Corporation, Seavenger, Henderson Neosport, NRS, Bridgedale Outdoor Ltd., Footland Inc., Lennon Performance Products Ltd., and Northern Diver.
Leading players in the global waterproof socks market are likely to engage in product development operations in the coming years to come up with new, innovative materials with which to produce waterproof socks. Innovating new materials that provide a high degree of insulation while keeping out moisture is likely to be a key competitive strategy in the global waterproof socks market over the forecast period.
Segmentation:
The global waterproof socks market is segmented on the basis of material, end use, distribution channel, and region.
By material, the global waterproof socks market is segmented into nylon, polypropylene, wool, and bamboo rayon. The nylon segment holds the largest share in the global waterproof socks market due to the stretchability of nylon, which helps the waterproof socks last longer. The luster of nylon fiber is also a highly sought after property in the waterproof socks market, as it helps give the socks an attractive appearance. The wool and bamboo rayon segments are also likely to grow over the forecast period at a strong rate, as wool provides high absorption and bamboo rayon provides an excellent degree of insulation to the user.
By end use, the global waterproof socks market is segmented into adults and children. The adult segment is likely to dominate the global waterproof socks market over the forecast period due to the predominance of adults in activities such as cycling, hiking, and other outdoor activities.
By distribution channel, the global waterproof socks market is segmented into store-based and non-store-based. The non-store-based distribution channel segment is likely to be highly important for the global waterproof socks market over the forecast period due to the ease of online shopping and the increasing adoption of mobile shopping channels by users around the world.
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Regional Analysis:
North America is the largest regional segment in the global waterproof socks market, followed by Europe. The high popularity of outdoor activities such as hiking in these two regions is the primary driver for the waterproof socks market in these regions. Asia Pacific is likely to exhibit robust growth over the forecast period, as consumers in the region are increasingly becoming aware of waterproof socks and are displaying increasing interest in the same. The increasing disposable income of consumers in Asia Pacific is also a major factor in the strong growth prospects of the regional segment in the waterproof socks market.
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