Market Overview:
Waterproof Socks Market is projected to reach USD 7.85 Billion by 2027 at a CAGR of 7.10% from 2020 to 2027.
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. 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.
The rise global consumers of waterproof apparel can benefit the waterproof market in the near future. The expansion of the worldwide waterproof socks market growth 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.
Key Players:
The Waterproof Socks Market Key Players are Recreational Equipment, Inc. (Sealskinz) Showers Pass DexShell) (US), Rocky Brands (US), Wigwam Corporation (US), Camaro GesmbH (Austria), Renfro Corporation (US), Seavenger (US), Annapolis Performance Sailing Ltd. (Gill) (US), Wildfire Sports & Trek (Antu) (Australia), Reed Chillcheater (UK), Lennon Performance Products Ltd. (UK), Northern Diver (UK), Henderson Neosport (US), NRS (US), Bridgedale Outdoor Ltd (UK), Footland Inc. (Taiwan)
Market Segmentation:
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 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:
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 Industry 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.
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