According to the research report titled ‘Global Waterproof Socks Market Size study, by Product (Mid-Calf Length Socks, Ankle Length Socks, Knee Length Socks, Calf Length Socks) By Application (Cycling, Water Sports, Trekking, Snow Sports, Outdoor, Other Activities) and Regional Forecasts 2022-2027’, available with MarketStudyReport, global waterproof socks market was worth USD 25.8 million in 2021 and is slated to grow at 3% CAGR over the next six years, amassing a valuation of USD 35.4 million by the end of 2028.
The growth of global waterproof socks market can be attributed to surging incidences of sports injuries, coupled with a growing geriatric population which has led to a rise in product uptake.
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For those unaware, waterproof socks are made up of three components including a knit exterior sock, a knit interior sock, and a waterproof membrane. It is composed of a waterproof fabric on the sole side and an air-permeable surface on upper portion.
Soaring popularity of adventurous and extreme sports activities, combined with increasing awareness about the product that has led to an uptick in its adoption among the people, are further escalating industry development.
Despite the positive outlook, frequent irregularities in the prices of raw materials as well as high cost of the product are likely to hinder the progress of the business sphere during the review period.
For better comprehension of worldwide waterproof socks market, the report categories it in terms of product type and application. To give the stakeholders a holistic view of the revenue potential, the research also furnishes the growth rate forecasts for each vertical.
From a geographic standpoint, Europe market is poised to register a robust growth rate during the assessment period, due to a huge proportion of the millennial population participating in cycling, trekking, and water sports.
Whereas Asia Pacific industry is anticipated to witness a significant revenue share during the study period, owing to surging millennial population and their shifting mindset about consumer goods which is prompting the adoption of waterproof socks.
The key players amplifying the competitive scope in global waterproof socks industry include Northern Diver International Ltd., Okamoto Corporation, Neo Sports, Bridgedale Outdoor Ltd., Lennon Performance Products Ltd., Camaro GmbH, Injinji, DexShell, Happy Socks, and Footland Inc. among others.