Projected to grow at a fastest pace during the forecast period, the women’s socks market is expected to be led by the Asia-Pacific (APAC) region that will grow at a 5.8 per cent CAGR between 2022 and 2032 and capture 40 per cent of the revenue.
As per a Future Market Insights report, the two major contributing countries to the growth will be China and India. Europe will contribute to 32 per cent with the UK, Germany and France accounting for a major share of the revenue.
Predicted to be worth $17.5 billion in 2021, the market is expected to grow to $30.25 billion by 2032. A major portion of this growth will be driven by rising health-consciousness amongst consumers and preference for using eco-friendly socks
White-collar professionals will play a crucial role in improving the demand for socks by increasing the importance of formal attire on a global basis.
The growing expenditure on health and fitness amongst adults will also help boost demand for various shoe accessories including sports and ankle socks at gyms and health clubs.
