Canada Socks Market Overview, 2029

Canada Socks Market Overview, 2029

The Canadian socks market has a long history that is intricately linked to the country's heritage and climate. Socks have played an important role in Canada's history, stemming from the need to survive harsh winters and the demands of activities such as fur trapping. Sock manufacture began with natural fibres such as wool and animal skins, but has since grown to include a varied range of materials and styles to match modern preferences and demands. Canadians are well-known for their practical and sporting interests, which have a considerable impact on the market environment. There is a strong need for performance socks designed for sports such as hiking, skiing, and hockey, which aligns with the country's preference for outdoor activities. Furthermore, there is a noticeable movement in customer tastes, particularly among younger generations, toward fashion-forward sock designs, which reflects changing fashion sensibilities and lifestyle choices. Comparison with Other Countries: Unlike the large market of the United States, Canada's market is smaller but equally focused on performance and outdoor clothing. Despite its small size, Canada's textile industry remains competitive, especially in specialty markets like performance and outdoor garments. Understanding these comparative market characteristics can assist businesses in both nations make strategic decisions, allowing them to customise their goods to the preferences and expectations of their respective markets.

According to the research report “Canada Socks Market Research Report, 2029,"" published by Actual Market Research, the Canada Socks market is predicted to grow with more than 8.50% CAGR from 2024 to 2029. Several drivers and obstacles influence the dynamics of the Canadian socks market. Rising disposable incomes, combined with a growing emphasis on health and fitness, fuel demand for customised socks designed for specific sports. Furthermore, the expansion of e-commerce channels has made products more accessible and convenient for customers, resulting in market growth. However, the market confronts hurdles, including fierce competition from low-cost imports that threaten indigenous firms. Fluctuating raw material prices also create uncertainty, affecting manufacturing costs and profitability in the industry. Policy and regulations have an important influence in defining the Canadian socks market landscape. Canada maintains strong textile labelling standards to ensure transparency about materials and provenance, fostering customer trust and confidence. Additionally, safety regulations are strictly maintained to reduce the hazards connected with dangerous chemicals, protecting both consumers and the environment. Such regulatory systems help to ensure the integrity and quality of socks offered in the Canadian market. Policy and regulations have an important influence in defining the Canadian socks market landscape. Canada maintains strong textile labelling standards to ensure transparency about materials and provenance, fostering customer trust and confidence. Additionally, safety regulations are strictly maintained to reduce the hazards connected with dangerous chemicals, protecting both consumers and the environment. Such regulatory systems help to ensure the integrity and quality of socks offered in the Canadian market.

The socks market encompasses a diverse range of products tailored to different preferences and needs. Categorised by product type, socks are available in casual, formal, athletic, and other specialised variants. These variations extend further based on length, with options including quarter-length socks, ankle socks, crew socks, no-show socks, and others like knee-high and thigh-high socks. Materials used in sock production further diversify the offerings, with popular choices including cotton, wool, polyester, and a variety of other materials such as bamboo, silk, acrylic, spandex, and nylon. The market also considers the end users, with socks designed for both adults and children. Gender-specific socks cater to men, women, and other gender identities, ensuring a tailored fit and style for all consumers. In terms of sales channels, socks are distributed through various avenues, including hypermarkets, supermarkets, convenience stores, online platforms, and other retail outlets. This diverse range of products and distribution channels reflects the dynamic nature of the sock market, accommodating a wide range of preferences and catering to the needs of different consumer demographics.

The growing ""athleisure"" trend represents a profitable potential for sports sock producers looking to enter the everyday wear market. Athletic socks have evolved from ordinary sportswear to attractive everyday dress, reflecting a greater emphasis on comfort and adaptability in clothing choices. Events like the Toronto Gift Show and the Canadian National Sports Show provide excellent opportunities for industry companies to promote their products and interact with potential customers. However, despite the obvious promise, acquiring precise trade information for the specialised socks industry in Canada remains difficult. Canada has a thriving textile industry; yet, raw cotton output remains low. Consequently, factories frequently rely on imports, making them exposed to global price changes. While Canada may excel in textile production, its reliance on imported raw materials highlights the importance of effective supply chain management in mitigating the risks associated with price volatility and supply disruptions. The COVID-19 epidemic most likely increased demand for comfortable, everyday socks as people spent more time indoors. However, the textile industry encountered issues as a result of supply chain interruptions, which may have hampered production and availability of goods. Despite rising demand for some items, manufacturers faced logistical challenges such as labour shortages and transportation interruptions, emphasising the significance of robust supply chains and adaptive corporate strategies in navigating unexpected disruptions effectively.
Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Socks market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type
• Casual
• Formal
• Athletic
• Others

By Length
• Quarter-length socks
• Ankle socks
• Crew socks
• No-show socks
• Others (Knee-high socks, Thigh-high socks)

By Materials
• Cotton
• Wool
• Polyester
• Others(Bamboo, Silk, Acrylic, Spandex, Nylon)

By End User
• Adults
• Children

By Gender
• Men
• Women
• Others

By Sales Channel
• Hypermarkets and Supermarket
• Convenience Store
• Online
• Others

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Socks industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Socks market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type
• Casual
• Formal
• Athletic
• Others

By Length
• Quarter-length socks
• Ankle socks
• Crew socks
• No-show socks
• Others (Knee-high socks, Thigh-high socks)

By Materials
• Cotton
• Wool
• Polyester
• Others(Bamboo, Silk, Acrylic, Spandex, Nylon)

By End User
• Adults
• Children

By Gender
• Men
• Women
• Others

By Sales Channel
• Hypermarkets and Supermarket
• Convenience Store
• Online
• Others

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Socks industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.