Global Socks Market to Reach $95.1 Billion by 2030
The global market for Socks estimated at US$60.1 Billion in the year 2023, is expected to reach US$95.1 Billion by 2030, growing at a CAGR of 6.8% over the analysis period 2023-2030. Casual Socks, one of the segments analyzed in the report, is expected to record a 6.5% CAGR and reach US$50.2 Billion by the end of the analysis period. Growth in the Formal Socks segment is estimated at 6.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $15.6 Billion, While China is Forecast to Grow at 10.4% CAGR
The Socks market in the U.S. is estimated at US$15.6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$23 Billion by the year 2030 trailing a CAGR of 10.4% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 5.3% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$13.9 Billion by the year 2030.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook