2023 Semi-annual Report And Forecast On The Sock Industry

Table of Contents

The market scale is always one of the important indicators to measure the sock industry. Analyzing the overall size of the global sock market provides insights into the industry’s scale and potential growth opportunities. This includes the overall value of the market and the distribution of market shares. According to the latest data, the global sock market is projected to reach $22.95 billion in 2023.

We know that consumer trends are a key aspect of macro data analysis. By studying consumer buying behaviors and preferences, we can uncover the development direction and trends in the sock market. For example, analyzing consumer preferences for materials, styles, brands, and prices, as well as their focus on factors like sustainability and comfort. Additionally, changes in consumer purchasing channels, such as the competition between online shopping and physical stores, can also be considered.

Lastly, industry development is an important component of macro data analysis. By researching the trends in the sock industry, we can understand related technological innovations, product advancements, and market competition. This includes the application of new materials, the rise of functional socks, and the development of specific market segments. Furthermore, factors such as key industry players, market structure, and barriers to entry can be observed to evaluate the competitive landscape and future development trends of the industry.

In summary, macro data analysis of the sock industry can provide crucial information about market size, consumer trends, and industry development. This information serves as a reference for relevant companies and organizations in formulating strategies and making informed decisions.

Global Socks Market Forecast for 2023

➢ According to Statista data, the global socks market is projected to reach a size of 22.95 billion US dollars in 2023.

➢ The top countries/regions in terms of the global socks market size are:

China: 4.2 billion US dollars, accounting for 18%
USA: 3.93 billion US dollars, accounting for 17%
EU: 5.06 billion US dollars, accounting for 22%

➢The annual compound growth rate for socks is forecasted to be 2.81% during the period of 2023-2027.

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Analysis of China’s sock exports from January to April 2023

➢According to the General Administration of Customs, China’s sock exports amounted to 7.26 billion US dollars in 2022. For the period of January to April this year, the export value was 2 billion dollars, representing a year-on-year growth of 8.9%.

➢Among them, synthetic fiber socks accounted for the highest export proportion (46%), followed by cotton socks (42%). The combined export value of these two categories alone reached a high proportion of 88%. The exports mainly focus on ankle socks, mid-calf socks, and similar varieties.

➢It is worth noting that there is a year-on-year growth of 40% in the export of synthetic fiber knitted or crocheted pantyhose.

➢Compression stockings exports have been increasing year-on-year since February, with a significant 40% increase in April. It is recommended to pay attention to this trend.

The export value of socks from China in 2022-2023(in billion US dollars)

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Socks – B2B Trend Analysis

➢The active buyer index for the sock category on B2B has seen a year-on-year growth of 38% in the past 90 days. From the perspective of the business opportunity index, sport socks have experienced a year-on-year growth of 58%, women’s socks +37%, and men’s socks +28%. These three subcategories are popular and high-growth segments.

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➢The top 10 countries for the sock category are primarily the United States, the United Kingdom, Australia, Brazil, Russia, and Chile. The high-growth countries within this category are Chile, Brazil, and Australia.

➢The year-round essential category– sport socks, continues to experience high-speed growth. In the summer season, there is a high demand for men’s ankle socks, women’s ankle socks, and pantyhose, with demand surging.

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Top three-level categories in the category business opportunity index

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Which are the B2B fast growing socks?

According to Alibaba data, demand on sport socks is growing the fastest, especially anti-slip socks, compression socks, and football/basketball socks.

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Socks – Featured hot-selling styles

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Socks – 2023 Autumn/Winter Trend Forecast

Women’s Socks: Lace Tights

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Men’s socks: Happy Socks, socks

with eye-catching patterns

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Women’s socks & Men’s socks: Thermal socks (recommended for functional purposes: far-infrared)

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Sports socks: Simple slogans, trendy fonts, and a brand new layout (such as wave patterns, vertical arrangement on the back of the leg, etc.)

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Above is a simple semi-annual report and forecast for socks in dustry on 2023, we will keep posting valuable information to our customer. Welcome to visit us–Jiaxing Max Hosiery, focusing production of sports and compression socks, your one-stop socks solution!

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