Market Research Future (MRFR) assessed the global waterproof socks market 2020 for the analysis period till 2027. According to MRFR study, the global waterproof socks market is likely to favor the market to garner 7.1% CAGR over the analysis period (from 2020 to 2027). By 2027, the waterproof socks market is likely to value at USD 7,857.6 Million.
Market Drivers and Restrains
The rise global consumers of waterproof apparel can benefit the waterproof market in the near future. The expansion of the worldwide waterproof socks market can be driven by factors, such as; frequent launch of trending products by reputed marketers, the growing demand for sportswear, and advancements in e-commerce. Waterproof socks make traveling during the monsoon season more comfortable and convenient as it can resistant penetration of water. The ability of waterproof apparel from preventing water to come in-contact with skin can bolster the market upsurge in the near future. The availability of waterproof materials, such as; nylon, wool, and polypropylene and the adoption of modern technologies by manufacture to fabricate effective waterproof socks can prompt the market upsurge over the assessment period. The growing awareness about benefits of nylon, such as; better lustre and offers high elongation is gaining prominence as the materials for producing waterproof nylon. Bamboo rayon offer antibacterial, insulating, and sweat-absorbent properties that is observed to gain traction in the textile industry, influencing the waterproof socks market share. On the contrary, limitation on market penetration in developing regions and high price of waterproof socks over conventional socks are causes that can hinder the market upsurge in the near future.
Segment Analysis of Waterproof Socks Market
The segment study of the waterproof socks market is based on material, distribution channel, and end-use.
The material-based segments of the waterproof socks are bamboo rayon, nylon, polypropylene, and wool among others. The nylon segment is expected to rise at high pace owing to the increase in the demand for the product, while the bamboo rayon segment can garner decent revenue in the near future.
The end-use-based segments of the waterproof socks market trends are children and adults. The children segment can garner considerable revenue for the market in the years to come.
Store-based and non-store based are segments of the waterproof socks market study that is based on distribution channel.
Regional Analysis of Waterproof Socks Market
In North America, the upsurge in the demand for multifunctional sportswear is expected to support the regional market progress. The inclination of consumer towards multifunctional products contributing to the demand for waterproof socks can support North America market expansion. The presence of numerous adventure enthusiasts in the region and their active participation in activities. such as; hiking, cycling, mountain biking, running, and snow sports, is identified to drive the demand for waterproof socks, which, in turn, can favor the market upsurge. The availability of unisex waterproof socks for both women and men, along with the increasing demand for multifunctional apparel can favor the market upsurge. In the US, the sales of men’s and boy’s apparel has recorded a revenue of around USD 86,120 Mn in 2020 that is expected to benefit North America waterproof socks market in North America in the near future.
In Europe, the waterproof socks market is expected to rise at high pace. There are several causes contributing to the waterproof socks market growth in EU. Advancements in e-commerce system and supporting increase in rate of online sales is the major causes that can benefit the market. The increase in online presence of retail stores through e-commerce platforms can add to the expansion of the regional market. The upsurge of EU waterproof socks market can also surge owing to the growing prefer of consumers for online as it offers the convenience of doorstep delivery. Numerous lucrative opportunities have unfolded due to the inclination towards online purchase as market players are displaying their products online. Online retail stores, such as; Amazon and Walmart, offer a wide range of products with several deals and discounts, thus boosting sales. This is expected to prompt the market of waterproof socks market in the evaluation period.
Key waterproof socks market players Wildfire Sports Trek (Antu) (Australia), Recreational Equipment,Inc. (Sealskinz, Showers Pass, DexShell) (US), Annapolis Performance Sailing Ltd. (Gill) (US), Rocky Brands (US), Reed Chillcheater (UK), Renfro Corporation (US), Wigwam Corporation (US), Camaro GesmbH (Austria), Northern Diver (UK), Lennon Performance Products Ltd. (UK), Footland Inc. (Taiwan), Seavenger (US), NRS (US), Henderson Neosport (US), and Bridgedale Outdoor Ltd (UK).
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