Market Research and Development Trend Forecast Report on Socks Industry from 2024 to 2030

Writer： admin Time：2023-08-18 19:20:27 Browse：155℃

1.The export quantity of socks from China in 2023 is 18.5 billion pairs, with an export value of 49.1 billion yuan

Socks are essential daily consumer goods in people's lives. Modern socks not only provide warmth and foot protection, but also have functions such as fashion, comfort, 

health, and meeting sports needs. With the advent of the era of personalized clothing, socks that are paired with it also exhibit uniqueness and diversity. As an important

 supporting role of clothing and the main category of textile clothing products, socks have begun to show its unique charm to people, and have attracted more and more

 attention.

With the gradual improvement of people's living standards, the structure of socks is becoming increasingly perfect and the variety of products is becoming more diverse. 

Socks are divided into men's socks, women's socks, and children's socks according to their consumption targets; According to production equipment, they are divided int

o cotton socks (including wool socks and synthetic fiber socks, which are produced by a device commonly known as a "cotton sock machine") and silk socks (which are pr

oduced by a device commonly known as a "silk sock machine"); Divided into cotton socks, woolen socks, silk socks, and various synthetic socks according to raw materials;

 Divided into long socks, medium socks, short socks, boat socks, sock covers, etc. according to their shapes; According to the sock mouth, it is divided into flat socks and r

ibbed socks; According to the heel, socks can be divided into those with heels and those without heels; Divided into jacquard socks and woven socks according to weaving

 patterns; Divided by function into sports socks, casual socks, formal socks, medical socks, etc; According to quality, socks are classified into high, medium, and low grades.

With the continuous deepening of economic globalization, the trend of international division of labor in the sock manufacturing industry is becoming increasingly evident. 

Japan, Europe, America and other countries occupy a dominant position in design, research and development, and marketing, while developing countries, with their advan

tages in raw materials and labor resources, highlight strong market competitiveness in the production and manufacturing process. As early as the 1970s and 1980s, the wo

rld sock making center was transferred from the early United States, Italy and other countries to Japan, South Korea and Taiwan, China; Then it was gradually transferred to

 developing countries such as China, Türkiye, India and Pakistan, where production costs were lower. Especially in China, although the sock industry started relatively late c

ompared to other industries in the textile and clothing industry, it was not until the late 1980s that Hong Kong and Taiwan companies began producing socks in Guangdon

g and selling them in the domestic Chinese market; But in the 1990s, with the continuous increase of labor costs, the sock manufacturing industry in Europe, America, Japa

n and other regions accelerated its transfer to China, and China's sock manufacturing industry developed rapidly. Nowadays, China has become the world's largest exporte

r of socks. According to Chinese customs data, the export quantity of socks in China will be 18.5 billion pairs in 2023, with an export value of 49.1 billion yuan and an avera

ge unit price of 2.65 yuan per pair.

2.Global sock manufacturing industry sales situation

per pair.Socks, as a mature and essential fast-moving consumer product, have a stable global market size, but with the development of global economic modernization, the

 overall market size is showing a slow upward trend. The global sock consumption in 2023 is about 42.6 billion US dollars, and the sock consumption in China is about 8.88 

billion US dollars, with a large market capacity and a growing trend.

From the perspective of the production pattern of the global market, China, Türkiye and the Netherlands are the major producers of cotton socks in the world. The top three

 countries in the world in terms of export value of cotton socks are China, Türkiye and the Netherlands. In 2022, the export value will be US $2823 million, US $822 million an

d US $445 million, accounting for 42%, 12% and 7% respectively.

As the largest sock consumer market after China and the world's largest sock import market, the size of the US sock market has grown from $6.662 billion to $6.95 billion fro

m 2019 to 2023, with an average annual compound growth rate of 1.06%, maintaining an overall growth trend.

In the context of economic globalization, the United States, as the "profit distribution center" of the global value chain, had already completed the industrial transfer of tradit

ional manufacturing in the early stages, and a large number of products relied on overseas imports. According to data, the size of the imported sock market in the United Sta

tes reached 2.715 billion US dollars in 2021, making it the world's largest sock importing country, with approximately 60% imported from China. Chinese sock products have 

consistently occupied over 50% of the US import market, making them the largest source of imported socks for the United States.

Europe is the fashion trendsetter for global clothing. In recent years, due to the sluggish economic growth of major European economies, the overall demand for clothing has

 been affected, resulting in fluctuations in the size of the European sock market.

The demand for socks in the market is closely related to the population size. China has a large population, and there is a large demand for socks every year. The market itself 

has a high base. With the development of China's economy and the increase in consumer spending, the size of China's sock market has shown a steady growth trend.