An Incisive, In-depth Analysis on the Waterproof Socks Market
This study offers a comprehensive, 360 degree analysis on the Waterproof Socks market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Waterproof Socks market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Demand for Waterproof Socks Driven by Increase in Adventure Sports
From an estimated market size of US$ 24.2 Mn in 2018, the value sales of waterproof socks are expected to reach US$ 34.9 Mn by 2027, expanding at a CAGR of 4.2%
Socks have been essential consumer products that are being used since decades. The demand for socks has always been high and consistent, which has resulted in the continuous evolution of products at regular intervals. Nowadays, various innovative types of socks are available in the market to meet the needs of various demographic segments. These include athletic socks, casual socks, formal socks as well as specialty socks. Waterproof socks have been gaining traction among target customers, especially among people involved in activities such as trekking, swimming, cycling, snow sports, etc. Waterproof socks are a new type of socks that have been designed to meet the requirements of customers engaged in the adventure and sports industries.
The global waterproof socks market is gaining traction owing to an increase in demand from sports enthusiasts
Over the past two decade, the popularity of various adventurous and extreme sports activities has grown rapidly across the world. The customers of today are extremely keen and influenced in indulging in various adventurous sports such as trekking, snow sports as well as cycling. Sport enthusiasts seek safety equipment, which includes waterproof socks. Waterproof socks provides thermal as well as water resistance to users, which makes cycling and trekking easier. The North America, Europe and several parts of the Asia Pacific region are well known for the practice of various adventurous sports, which indicates the large-scale usage of waterproof socks in the above-mentioned countries or regions.
Manufacturers of waterproof socks are introducing new and innovative products to cater to the growing consumer demand
With the growing demand for waterproof socks in the global market, the manufacturers of waterproof socks are aiming at introducing new features to their existing product lines of waterproof socks. For instance, ArcticDry, one of the key manufacturers of waterproof socks in the European market, launched a new variant of waterproof socks with additional features. The new ArcticDry Xtreme waterproof socks for men are crafted from nylon, spandex and Coolmax material, due to which they are waterproof as well as breathable. The ArcticDry Xtreme waterproof socks are specifically marketed for cyclers, hikers and fishers in the European region. The company has also introduced the Waterfly waterproof socks that are crafted and processed through three-layered durable materials, i.e. a nylon outer material, a waterproof middle layer and a merino wool with a nylon inner layer. Waterfly waterproof socks are highly water-resistant and naturally antibacterial & odour-resistant.
Waterproof socks to witness high demand from the healthcare industry
Waterproof socks are also known to be hygienic consumer goods since they are antibacterial. There are various diseases that one suffers from, which are mostly caused by various harmful bacteria and viruses. As a result, most healthcare professionals urge people to wear waterproof socks. Waterproof socks tend to prevent bacteria from entering into the feet during outdoor or extra-curricular activities.
Millennials among the largest consumers of waterproof socks
The activities of the millennial population and their perceptions about various consumer goods have been considered as one of the most influential factors driving the demand for waterproof socks in the global market. This category of customers are very active and ardent sports enthusiasts. Most of the millennial population, especially from the North America and European regions, likes to participate in various sports activities and adventurous sports. A large number of millennials participate in cycling, water sports as well as trekking, owing to which they purchase safety gear. As a result, the demand for various types of waterproof socks, which include mid-calf length waterproof socks, ankle-length waterproof socks as well as calf-length waterproof socks, among the millennial population is on the rise.
Multinational players are relatively highly concentrated in the global waterproof socks market as compared to local and regional manufacturers
The global waterproof socks market is primarily characterised by the presence of a large number of regional and multinational companies. The detailed profiles of companies in the waterproof socks market are also included in global waterproof socks market report to evaluate their strategies, key product offerings and recent developments. Some of the key players profiled in the global waterproof socks market study are Sealskinz; Happy Socks; DexShell; Wigwam Corporation; Camaro GmbH; Randy Sun; Bridgedale Outdoor Ltd.; Okamoto Corporation; Recreational Equipment, Inc.; The Showers Pass; Injinji; Rocky; Seavenger; Neo Sport; Footland Inc.; Lennon Performance Products Ltd.; The Sock Factory; Northern Diver; Wrightenberry Mills, Inc. and Wildfire Sports & Trek.
This report provides the forecast and analysis of the global waterproof socks market. It provides analysis on the basis of the historical data and forecast from 2018 to 2027 in terms of revenue (US$ Mn). The waterproof socks market report reveals the market dynamics in seven geographic segments along with market analysis for the current and future scenario. In addition, it includes the drivers, restraints and recent trends of the waterproof socks market. The report also comprises opportunities for the manufacturers of waterproof socks and highlights the value chain analysis in detail. The study demonstrates the market dynamics and trends across regions that are expected to influence the current status and future prospects of the waterproof socks market.
The report studies the global waterproof socks market for the period 2018–2027. The prime objective of this report is to offer quantitative and qualitative insights and study the key market trends pertaining to the global waterproof socks market that gradually help transform businesses.
The market numbers have been assessed by carefully scrutinising the waterproof socks spending of countries in all the seven key regions during the current year, as well as the historical performance of the market. The market size and forecast for each segment of the waterproof socks market has been provided in the context of the regional markets. All the segmentation of the waterproof socks market has been considered after appropriate secondary research and revalidation of the data obtained through interviews with key thought leaders and industry experts. The market has been forecast based on constant currency rates. The report includes the revenue generated from the sales of waterproof socks across all the regional economies.
The report begins with an executive summary intended to provide a clear perspective about the market to the reader. It is then followed by an overview of the waterproof socks market and provides the definition of the waterproof socks market and analysis about the drivers, restraints, opportunities and key trends in the market. The sections that follows includes the analysis of the global waterproof socks market by product type, source, end use, sales channel and a country-level analysis.
On the basis of product type, the global waterproof socks market is segmented into mid-calf length waterproof socks, ankle-length socks and knee-length socks. The global waterproof socks market is further segmented on the basis of application, i.e. trekking, water sports, cycling, snow sports, outdoor and other activities. The global waterproof socks market is also segmented on the basis of gender, i.e. male, female and unisex. On the basis of sales channel, the global waterproof socks market is segmented into wholesaler/distributor, supermarket/hypermarket, specialty store, independent store, club store and online store.
All the above sections evaluate the waterproof socks market on the basis of various factors affecting the market, which cover the present scenario and future prospects. For market data analysis, the waterproof socks market report considers 2017 as the base year, with market numbers estimated for 2018 and forecast made for 2018–2027. All the segmentation of the waterproof socks market has been considered after appropriate secondary research and the revalidation of the data obtained through interviews with key thought leaders in the industry. The waterproof socks market has been forecast based on constant currency rates.
The next section of the waterproof socks market report highlights the market by region and provides the market outlook for 2018–2027. The study investigates the regional Year-on-Year (Y-o-Y) growth of the waterproof socks market. Key regions assessed in this report include North America, Latin America, Europe, Asia Pacific Excluding Japan, Middle East & Africa and Japan. The waterproof socks market report evaluates the present scenario and growth prospects of the regional market for 2018–2027.
The waterproof socks market numbers have been assessed based on the sales and weighted average pricing by nature and by product type. The aggregate revenue is derived through the weighted average country pricing trends. The size of the waterproof socks market and forecast for each segment have been provided in the context of the country. The waterproof socks market has been analysed based on the expected demand and current spending scenario. The prices considered for the calculation of revenue are the average country prices obtained through primary quotes from numerous regional manufacturers, suppliers and distributors of waterproof socks. All the key product types have been considered on the basis of secondary sources, i.e. OECD, UN data and feedback from primary respondents. Country-wise demand patterns have been considered while estimating the consumption of waterproof socks across various regions. The waterproof socks market numbers for all the regions by product type, base material, end use and distribution channel have been derived using the bottom-up approach, which is cumulative of each country’s demand. The company-level waterproof socks market share has been derived on the basis of revenues reported by key manufacturers. The waterproof socks market has been forecast based on constant currency rates. Given the characteristics of the market, we have triangulated the outcome on the basis of three different types of analysis: based on supply side, demand side analysis of waterproof socks and the impact of macro-economic factors on the waterproof socks market. In addition, it is imperative to note that, in a fluctuating global economy, we not only conduct market forecasts in terms of Compound Annual Growth Rate (CAGR), but also analyse the market based on key parameters, such as Y-o-Y growth rates, to understand the predictability of the waterproof socks market and to identify the right opportunities for players.
The market segments of the global waterproof socks market have been analysed in terms of Basis Point Share (BPS) to understand the relative contributions of each segment to market growth. This detailed level of information is important for identifying the various key trends in the waterproof socks market. Another key feature of this report is the analysis of the market in terms of absolute dollar opportunity represented by the sales of waterproof socks. Absolute dollar opportunity is critical for evaluating the scope of opportunity that a provider can look to achieve as well as to identify the lucrative segments. The overall absolute dollar opportunity represented by the waterproof socks market is mentioned in the report. To understand key growth segments in terms of the growth and adoption of waterproof socks in the global market, FMI has developed the market ‘Attractiveness Index.’ The resulting index is expected to help providers identify the real market opportunities. A number of primary and secondary sources were referred during the course of this study. Some of the secondary sources include IMF, World Bank, Hoovers, Factiva, the annual reports of companies and government associations & publications.
In the final section of the report on the waterproof socks market, a ‘dashboard view’ of the companies is provided to compare the current industrial scenario and their contribution to the overall waterproof socks market. Moreover, it is primarily designed to provide clients an objective and detailed comparative assessment of the key providers specific to a segment in the waterproof socks market. Report audiences can gain segment-specific manufacturer insights to identify and evaluate the key competitors in the waterproof socks market. Detailed profiles of companies are also included in the report to evaluate their strategies, key product offerings and recent developments. Some of the key players in the global waterproof socks market are Sealskinz, Happy Socks, DexShell, Wigwam Corporation, Camaro GmbH, Randy Sun, Bridgedale Outdoor Ltd., Okamoto Corporation, Recreational Equipment, Inc., The Showers Pass, Injinji, Rocky, Seavenger, Neo Sport, Footland Inc., Lennon Performance Products Ltd., The Sock Factory, Northern Diver, Wrightenberry Mills, Inc. and Wildfire Sports & Trek.