India Socks Market Report and Forecast 2024-2032

India Socks Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the India socks market attained a value of about INR 53.58 billion in 2023. Aided by the burgeoning fashion industry, evolving consumer preferences, and the expansion of organised retail, the market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 9%.

Socks, traditionally considered merely as foot coverings, have transformed into a significant fashion statement in India's dynamic apparel landscape. Serving both functional and aesthetic purposes, socks are now available in an array of designs, materials, and styles, catering to diverse consumer needs and preferences.

The surge in India socks market demand can be attributed to multiple factors. The rise in fashion consciousness among the youth, driven by global fashion trends and the influence of social media, has substantially elevated the role of socks in ensemble coordination. No longer hidden under shoes, socks have become expressive accessories, with patterns, colours, and innovative designs taking the centre stage.

As per the India socks market analysis, the growth of the sports and fitness industry in India is bolstering the demand for specialised athletic socks. As more Indians take up sports and fitness activities, the need for performance-enhancing, comfortable, and durable socks has witnessed a considerable uptick.

The expanding organised retail sector in India, coupled with the growth of e-commerce platforms, is posing a positive impact on the India socks market outlook. With easy access to both domestic and international brands, consumers now have a plethora of choices at their fingertips. These retail channels, offering an extensive range of products and seamless shopping experiences, further fuel the consumption of socks across the nation.

Additionally, the emergence of premium and luxury socks segments, targeting the affluent urban population, is invigorating the market. These segments, emphasising quality, comfort, and exclusivity, cater to the rising aspirations and purchasing power of India's middle and upper-middle classes.

Nonetheless, continuous innovation, sustainable production practices, and brand-building efforts are expected to steer the India socks market growth. The introduction of eco-friendly, organic socks made from bamboo, organic cotton, and other sustainable materials offers an avenue for differentiation and caters to the environmentally conscious consumer.

Furthermore, collaborations between fashion influencers, celebrities, and sock brands can elevate brand visibility and drive consumer interest. Such partnerships resonate well with the youth, encouraging them to perceive socks as essential fashion accessories.

Market Segmentation

The market can be divided based on product type, material, demographics, and distribution channels.

Market Breakup by Product Type

• Casual Socks
• Formal Socks
• Athletic Socks
• Speciality Socks
• Others

Market Breakup by Material

• Nylon
• Cotton
• Polyester
• Wool
• Others

Market Breakup by Demographics

• Men
• Women
• Kids

Market Breakup by Distribution Channels

• Hypermarkets and Supermarkets
• Convenience Stores
• Speciality Stores
• Online
• Others

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the India socks market. Some of the major players explored in the report by Expert Market Research are as follows:

• Nike, Inc.
• Adidas AG
• U.S. Polo Assn.
• Vidhaan Socks
• Kamal Hosiery Industries
• Filatex Fashions Ltd.
• Bhumika Hosiery Centre
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.