Jul 22, 2020 6:42 PM ET
iCrowd Newswire – Jul 22, 2020
Global Waterproof Socks Market is projected to Reach USD 6,850.4 Million by 2025 at a CAGR of 7.1% from 2019 to 2025. The growth of the global waterproof socks market is driven by factors such as the growing demand for sportswear, frequent launches of trending products by market players, and advancements in e-commerce.
Also, waterproof socks make it more comfortable for those traveling during the monsoon season since it is resistant to water penetration. Market players us materials such as nylon, polypropylene, wool, bamboo rayon, and modal to manufacture waterproof socks. Nylon offers high elongation and luster while bamboo rayon is antibacterial, sweat-absorbent, and insulating. The growing popularity of multifunctional apparel and accessories is influencing the market for waterproof socks.
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Recreational Equipment, Inc. (Sealskinz, Showers Pass, DexShell) (US), Annapolis Performance Sailing Ltd. (Gill) (US), Wildfire Sports & Trek (Antu) (Australia), Reed Chillcheater (UK), Rocky Brands (US), Wigwam Corporation (US), Camaro GesmbH (Austria), Renfro Corporation (US), Seavenger (US), Henderson Neosport (US), NRS (US), Bridgedale Outdoor Ltd (UK), Footland Inc. (Taiwan), Lennon Performance Products Ltd. (UK) and Northern Diver (UK)
Growth Opportunities in the Market
Increasing demand for multifunctional sportswear: Consumer preference for multifunctional products can be seen in the demand for waterproof socks by adventure enthusiasts who participate in activities such as cycling, running, hiking, mountain biking, and snow sports. Additionally, the majority of waterproof socks are unisex and can be worn by both men and women. There is an increasing demand for multifunctional apparel among men and women globally, which in turn expected to drive the market for waterproof socks. In the US the revenue for men’s and boy’s apparel market in 2019 is expected to be USD 86,120 million.
Advancements in e-commerce: Online retail stores and e-commerce platforms account for a significant share of the Global Waterproof Socks Market. Consumers prefer shopping online as it offers convenience and doorstep delivery. This offers a lucrative opportunity for market players to display their products online. The growth of online retail stores such as Walmart and Amazon.com, Inc. is further influencing the growth of the market for waterproof socks. The wide product range, deals, and discounts offered by market players and online retailers are expected to boost the growth of the market during the forecast period.
Nylon: The largest segment of the market; it accounted for 65% of the total market share in 2018. Nylon offers advantages such as high elongation, temperature resistance, and luster, which has led manufacturers to use the material for waterproof socks.
Polypropylene: This is a relatively inexpensive material that has high flexural strength due to its semi-crystalline nature. It has a low coefficient of friction and offers good fatigue resistance. Due to these properties, polypropylene is used to manufacture waterproof socks.
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Adults: The larger segment, it is also expected to register the higher CAGR during the review period. Adults in North America and Europe are increasingly participating in adventure sports such as trekking, cycling, and water sports, which is driving the demand for waterproof socks. These socks are sweat-, water-, and odor-resistant, leading to their high use by sports enthusiasts.
Children: The segment accounts for a significant share of the market. Sports such as bicycling and inline skating quite popular among Children, which is influencing the growth of the market for waterproof socks.
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