South Korea Socks Market Overview, 2029

Socks have been woven firmly into the fabric of Korean clothing for ages, initially providing practical functions such as warmth and protection. However, in current times, they have become more than just useful clothing. The rise of character socks, which feature renowned cartoon characters, prominent K-pop stars, and wacky designs, represents a significant shift in their cultural importance. Tourists and residents alike go to locations like Myeongdong in Seoul, transforming it into a busy hub for stylish socks. Fashion meets tradition in a brilliant fusion of colours and patterns. Social media networks play an important role in promoting and marketing trendy character sock designs. Influencers use their reach to showcase the latest trends, which effectively increases customer interest and engagement. Offline marketing tactics also include smart collaborations with popular K-pop groups and the creation of temporary pop-up boutiques. These campaigns focus on South Korea's thriving pop culture industry, enhancing the brand's image and recruiting customers. According to the research report “South Korea Socks Market Overview, 2029," published by Bonafide Research, the South Korea Socks market is forecasted to reach market size of more than USD 110 Million by 2029. Several significant factors contribute to the Korean socks market's growth. To begin, socks are embraced as a canvas for self-expression, especially among the younger age, which see them as a fun and easy way to express their personality. Furthermore, comfort and quality continue to be top priorities for Korean consumers, with domestic producers emphasising the use of premium materials to assure durability and satisfaction. However, amidst the market's prosperity, problems exist. Notably, the inflow of low-cost imports from nearby China poses a substantial threat to domestic producers, increasing competitiveness and driving up prices. Furthermore, keeping up with swiftly altering fashion trends is an ongoing problem for industry participants, necessitating adaptability and innovation to remain relevant in an ever-changing landscape. South Korea maintains high regulations for textile products, such as socks, as part of its commitment to customer safety and quality. Manufacturers operating in the country are required to follow these strict laws in order to protect consumer interests and maintain market integrity. Compliance with quality and safety standards is critical to consumer trust and confidence in the Korean sock industry, ensuring that products meet demanding criteria for production procedures, materials utilised, and overall performance. Thus, adherence to regulatory criteria not only promotes consumer protection but also strengthens South Korea's reputation as a producer of high-quality textile products.

The socks market encompasses a diverse range of products tailored to different preferences and needs. Categorised by product type, socks are available in casual, formal, athletic, and other specialised variants. These variations extend further based on length, with options including quarter-length socks, ankle socks, crew socks, no-show socks, and others like knee-high and thigh-high socks. Materials used in sock production further diversify the offerings, with popular choices including cotton, wool, polyester, and a variety of other materials such as bamboo, silk, acrylic, spandex, and nylon. The market also considers the end users, with socks designed for both adults and children. Gender-specific socks cater to men, women, and other gender identities, ensuring a tailored fit and style for all consumers. In terms of sales channels, socks are distributed through various avenues, including hypermarkets, supermarkets, convenience stores, online platforms, and other retail outlets. This diverse range of products and distribution channels reflects the dynamic nature of the socks market, accommodating a wide range of preferences and catering to the needs of different consumer demographics. Despite the dominance of domestic producers, there is still space for new entrants to carve out a position by offering distinctive designs or environmentally friendly materials. This gives an opportunity for new startups or established businesses aiming to broaden their product offerings and capture emerging market segments. Recent industry reports indicate that the character sock category will continue to rise, fueled by global demand, as well as a potential expansion in the market for performance socks designed for sports like hiking and jogging. Staying informed about such trends and customer preferences is critical for businesses looking to capitalise on market possibilities and retain competitiveness in the ever-changing sock industry landscape. South Korea's sock production business is based on a combination of indigenous and imported raw materials, with cotton, nylon, and polyester serving as the key components. Unlike China, which promotes mass production, South Korea distinguishes itself by focusing on quality and unique design. This differentiates it from regional competitors like Taiwan and Vietnam. South Korea's cultural influence strengthens its position, especially in the domain of character socks, where its unusual designs appeal to consumers. The Covid-19 pandemic has had both beneficial and negative effects for South Korea's socks market. On the one hand, the increased desire for comfortable home wear during lockdowns and remote work arrangements could boost sock sales. Consumers looking for snug and elegant indoor wear have resorted to character socks, which has contributed to an increase in demand. However, the epidemic has disrupted global supply networks, causing temporary shortages and price volatility in key supplies. These supply chain issues have created logistical obstacles for sock makers in South Korea, altering production schedules and potentially affecting overall market dynamics. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029

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Prashant Tiwari

Research Analyst

Aspects covered in this report • Socks market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product Type • Casual • Formal • Athletic • Others By Length • Quarter-length socks • Ankle socks • Crew socks • No-show socks • Others (Knee-high socks, Thigh-high socks)

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By Materials • Cotton • Wool • Polyester • Others(Bamboo, Silk, Acrylic, Spandex, Nylon) By End User • Adults • Children By Gender • Men • Women • Others By Sales Channel • Hypermarkets and Supermarket • Convenience Store • Online • Others The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Socks industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.