The socks market is highly competitive due to the presence of numerous large players and presence of local players. The manufacturing cost of socks is relatively low, thus, the threat of new entrants is higher. These new entrants are further intensifying the competition among players. In order to reduce effects of the competition on revenue, these companies are investing in product innovation and new launch of advanced products. 

According to the report by TMR on the socks, market was valued at US$ 42.07 bn in 2016 and is expected to expand with a CAGR of 6.7% over the forecast period of 2017 from 2025. In the same year, Asia Pacific was the dominant region in the global socks market and expected to remain dominant over the forecast period.

On the basis of the type, casual socks segment was dominant in 2016 by accounting for more than one-third shares of the global market for socks continue to dominate over the forecast period. 

The increasing initiatives of the key players to offer something new and advanced products such as anti-bacterial and anti-fungal properties of socks. Some of these companies are focusing to offer socks made from Kevlar which are extremely strong, heat resistant, tough, and lightweight.

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Rising awareness about the benefits of wearing these socks is witnessing a surge in adoption from past few years. The aforementioned factors are boosting the growth of the global socks market.

The trend of using social media is influencing positively on the growth of the global socks market. Thanks to the reviews, blogs, and uploaded images of the latest fashionable ranges which the consumer share on their social media account.

The social media platform serves as an experiences sharing hub for these products and these experiences are influencing positively on the growth of the global socks market.