Market Analysis
The global waterproof socks market is predicted to touch USD 7.85 Billion at a 7.10% CAGR between 2020- 2027, as per the recent analysis by Market Research Future (MRFR). Waterproof socks help to prevent the entry of water along with offering comfort during different water-related as well as other sports activities. It has three layers- the inner layer offers comfort and insulation, the middle layer is completely water-resistant, and the outer layer prevents abrasion by shoes. Waterproof socks are made of different materials such as bamboo rayon, wool, polypropylene, and nylon, and are available for both children and adults.
Various factors are propelling the global waterproof socks market outlook. As per the latest MRFR report, such factors include the demand for sportswear worldwide, product innovation, growing organized retail sector, growing demand for multifunctional apparel & accessories, and a burgeoning need for multifunctional socks.
On the contrary, high cost, the grave effect of the ongoing COVID-19 outbreak, and limited market penetration are factors that may limit the global waterproof socks market growth over the forecast period.
Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global waterproof socks market based on distribution channel, end use, and material.
By material, the global waterproof socks market is segmented into bamboo rayon, wool, polypropylene, and nylon. Among these, the nylon material will lead the market over the forecast period for its plentiful benefits such as lustre, temperature resistance, and high elongation.
By end use, the global waterproof socks market is segmented into children and adults. Of these, the adult segment will dominate the market over the forecast period. Increasing participation of adults in water sports is adding to the growth of the segment.
By distribution channel, the global waterproof socks market is segmented into non-store based & store-based. Store-based distribution channel is again segmented into convenience stores, hypermarkets and supermarkets, and others. Among these, the store-based segment will dominate the market over the forecast period. Rising preference among consumers for accessing products physically for verifying the features and quality is adding to the growth of the segment.
Regional Analysis
Based on the region, the waterproof socks market share covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific, & the Middle East and Africa (MEA). Of these, North America will have the lions share in the market over the forecast period. Burgeoning demand for sportswear is adding to the global waterproof socks market growth in the region.
In Europe, the global waterproof socks market is predicted to have the second-largest share over the forecast period. The increasing popularity of adventure sports in the UK, Italy, and Germany is adding to the global waterproof socks market growth in the region.
In the APAC region, the global waterproof socks market is predicted to grow at a fast pace and at the highest CAGR over the forecast period. Launch of innovative products by leading industry players is adding to the global waterproof socks market growth in the region.
In the RoW, the global waterproof socks market is predicted to have sound growth over the forecast period. Rising disposable income and the surging demand of consumers for multifunctional apparel is adding to the global waterproof socks market growth in the region.
Key Players
Major key waterproof socks market players are Northern Diver (UK), Lennon Performance Products Ltd. (UK), Footland Inc. (Taiwan), Bridgedale Outdoor Ltd (UK), NRS (US), Henderson Neosport (US), Seavenger (US), Renfro Corporation (US), Camaro GesmbH (Austria), Wigwam Corporation (US), Rocky Brands (US), Reed Chillcheater (UK), Annapolis Performance Sailing Ltd. (Gill) (US), and Recreational Equipment, Inc. (Sealskinz, Showers Pass, DexShell) (US).
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