The sock market - Italy (2024)

1.2 The global and European market

The global market

The size of the global sock market reached USD **.** billion in ****. The market is expected to grow further at a CAGR of *.* percent during the forecast period ****-**** to reach a value of USD **.** billion by ****. On a product basis, casual socks represent one of the leading segments in the industry. However, growing awareness regarding health and fitness among consumers is expected to stimulate demand for sports socks over the forecast period. The growing demand for premium shoes and sports accessories among adults and the growing establishment of gyms should further help the segment's growth.[***]

Value of the global sock market World, ****-****, in billions of dollars (***) Expert Market Research

The European market

The European sock market reached approximately USD **.** billion in ****. The market is expected to grow at a CAGR of *.* percent between **** and ****, reaching a value of about USD **.** billion by ****.[***]

Value of the European sock market Europe, ****-****, in billions of dollars (***) Expert Market Research The importance of e-commerce in the industry

The rise of online shopping has led to significant growth in sock sales due to the ability for consumers to easily access a wide range of products and brands.Europe is currently the ...

1.3 The Italian market

In recent years, the hosiery sector in Italy has shown an unstable trend, strongly influenced by the crisis caused by the Covid-** pandemic. While there has been an increase in sales of products for domestic use, the market for women's hosiery, especially pantyhose and stockings, has slumped. In ****, according to data from Confindustria Moda, sales of men's hosiery fell by ** percent, while women's hosiery sales fell by ** percent.

Exports from the Castel Goffredo district, a central hub for hosiery production in Italy with more than *** companies and a pre-pandemic turnover estimated at *.* billion euros, have also been severely affected by the crisis, with a ** percent year-on-year decline and an even sharper **.* percent drop in the last quarter of **** (***).[***] Regarding industry turnover, information from **** to **** is available in the Istat database. In ****, there was a significant decline of **.* percent, followed by a gradual recovery until ****. Beginning in ****, a projection based on the European compound annual growth rate (***) trend was made, with a growth forecast of *.* percent in the period ****-**** for the target market.

Value of sales - Manufacture of knitted hosiery articles Italy, ****-****, in billion euros (***) Istat, Company Register Value of production is a key indicator for assessing the health ...

1.4 Foreign trade

For the analysis of this section, data reported by UNComtrade on the HS commodity code"**** - Hosiery; tights, stockings, socks and other hosiery articles, including those with graduated compression (***) and footwear without applied soles, knitted or crocheted." It is shown that from **** to ****, the value of exports declined slightly, registering a decrease of *.* percent. In contrast, imports showed a growth of *.* percent. Despite this divergent trend, the value of exports remains significantly higher than that of imports.

Imports, Exports and Coverage Rate (***) Italy, ****-****, in millions of dollars (***) UNComtrade Analyzing the breakdown of exports in Italy's sock market shows that the main trading partner is Croatia, which accounts for **.* percent of total exports. This is followed by Germany with**.* percent, France with**.* percent, the Netherlands with *.* percent and the United Kingdom with *.* percent. These figures show Italy's strong presence in European markets, with a particular concentration in European Union countries. Percentage breakdown of sock exports Italy, ****, % UNComtrade As for the percentage breakdown of imports in the sock market in Italy, Croatia is confirmed as the main country of origin, accounting for **.* percent of the total. It is followed by China with **.* percent, Serbia with**.* percent, the Netherlands with **.* percent and Belgium ...

1.5 Inflation suffered by the sector

In the knitted and crocheted hosiery manufacturing sector, the increase in theIndustrial Producer Price Index of **.* percent between January **** and December **** reflects significant pressure on production costs. This increase is the result of several factors, including higher prices for raw materials used in hosiery production, such as cotton, wool, and synthetic fibers, which have risen in prices due to global tensions in supply chains. Added to this are energy costs, which are particularly significant in an industry where energy consumption for fabric production and processing is crucial. Rising energy prices, linked to geopolitical factors and global economic instability, have further aggravated the situation. Labor and transportation and logistics costs, which have risen due to general inflation and rising fuel costs, have also contributed to pushing up production prices.[***]

Industrial producer price index-Manufacturing of knitted and crocheted hosiery Italy, ****-****, base **** = *** Istat

2.1 Demand in Italy

Since there is no specific entry for spending on socks in the ISTAT data, it is useful to refer to the category "other articles of clothing," which falls under COICOP code **.*.* (***). This code includes clothing items such as socks, underwear, and other clothing accessories not specifically categorized.

Between **** and ****, a significant decrease of **.* percent was observed in the average monthly household expenditure on these items. This decrease can be attributed to several factors, including a general reduction in consumption related to the pandemic, an increasing focus on savings, and a preference for more sustainable purchasing patterns. In addition, changing consumption habits, with increased use ofe-commerce and more essential clothing items, has contributed to reduced spending in this category.

Item of Expenditure - other clothing items Italy, ****-****, in current euros Istat

2.2 Second Hand as First Choice in the apparel industry?

In the clothing sector, including socks, Italians are showing a growing interest in the second hand market. This trend is closely linked to the concept of circular fashion, known by ** percent of respondents, who associate fashion not only with emotional values related to self-esteem and self-representation, but also with a concrete aspect: the recovery, repurposing and recycling of garments. In this context, sustainable fashion is seen as an opportunity to combine creativity and environmental responsibility, with ** percent of respondents saying they are interested in sustainable fashion solutions. This interest is particularly strong among women and those who buy and sell second-hand clothing, with a cross-generational trend. To prevent circular fashion initiatives from becoming counterproductive, it is crucial that communication campaigns tell about real projects, highlighting the tangible benefits of sustainability in the industry.

Why do I buy second hand? Italy, ****, % Ipsos

2.3 Geographical distribution of demand

The geographic distribution of monthly household spending on "other clothing" according to COICOP code **.*.*, which also includes spending on socks, is shown below. In terms of current euros, it is noted that Central Italy has the highest expenditure, with an average value of €*.**. This is followed by the South, with an expenditure of *.** €, while the North closes with an average value of *.** €.

2.4 The socks for diabetics

In Italy, the market for diabetic socks is experiencing significant growth, driven by an increase in the number of people with diabetes and growing awareness of the importance of preventing complications related to this disease. In ****, the European market for diabetic socks, including Italy, saw strong demand, with projected annual growth of *.* percent through ****.

Key features of socks for diabetic individuals

Seamless: one of the most important aspects is the absence of prominent seams, which can create friction and cause irritation or blisters in the feet, which are already sensitive in diabetics. Breathable and antibacterial materials: socks for diabetics are usually made of materials that help keep feet dry, reducing the risk of fungal infections. Materials such as cotton and bamboo, or breathable synthetic fabrics, are often used to promote breathability and moisture control. Reduced pressure: many diabetic socks are designed with a fit that does not squeeze too tightly around the ankle or calf, avoiding compromising circulation. Light compression or no elastic at the top reduces the possibility of obstructing blood flow. Padsand padding: many models include extra pads or padding in critical areas (***) to protect against trauma, providing greater comfort and reducing pressure. Antimicrobial properties: some diabetic socks include ...

3.1 Market Structure and Dynamics

Structural analysis of the knitted hosiery manufacturing market in Italy shows a negative trend between **** and ****. During this period, the number of enterprises active in the sector decreased by **.* percent, with a gradual decline year after year. This decline is attributable to various factors, including increasing international competition, rising production costs, and technological transformations requiring significant investment in innovation and automation.

Number of active enterprises - Manufacture of knitted hosiery items Italy, ****-****, in number Istat

In the knitted hosiery manufacturing sector, the legal form of active enterprises shows a varied breakdown. Sole proprietors, freelancers and the self-employed make up **.* percent of enterprises, reflecting the strong presence of small-scale businesses. This is followed by limited liability companies (***) make up ** percent, demonstrating the persistence of traditional corporate forms, characterized by shared management among several partners.

Legal form active enterprises - Manufacture of knitted hosiery items Italy, ****, % Istat The number of people employed in the knitted hosiery manufacturing sector also experienced a significant decline between **** and ****, falling by **.* percent. This decline, similar to the reduction in the number of active enterprises, has been gradual, reflecting a steady contraction of the sector. Those employed in this sector mainly include skilled laborers, who are involved ...

3.2 Value Chain

The value chain in the sock market involves several stages, from the production of raw materials to the distribution of the finished product. This chain can be divided into the following main steps:

Acquisition of raw materials: companies start with the selection and purchase of materials, which include natural fibers (***). In this segment, the adoption of sustainable materials, such as recycled or biodegradable fibers, is growing significantly due to increased demand for environmentally friendly products. Sock production: the production stage involves processes such as weaving, cutting, and sewing socks. The technologies used can range from highly automated machinery for mass production to artisanal techniques for niche products. Technical socks, for example, often require more complex processes to incorporate features such as graduated compression or padding for arch support. Logistics and distribution: once socks are produced, they must be transported to their target markets. At this stage, companies face transportation, storage, and supply chain management costs. Thanks to e-commerce, more and more manufacturers are using digital platforms to reach a global audience, reducing dependence on physical distribution. Marketing andsales: marketing and sales strategies are crucial to product differentiation in the marketplace. Successful companies focus on branding, promotions and product customization to win ...

3.3 The actors

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3.4 E-commerce in the apparel industry

In ****, online shopping in Italy reached a total value of **.* billion euros, marking a ** percent growth over ****. This growth was mainly driven by the services sector, which saw a ** percent increase, with particular emphasis on tourism, transportation, and event ticketing. The product sector also saw an increase, albeit more moderate, with growth of * percent, totaling ** billion euros.

The number of digital consumers stabilized at around ** million, with a ** percent penetration of total retail purchases. This figure reflects a stabilization of the growth trend after the boom during the pandemic, with more consumers making regular online purchases, especially in large urban centers and in luxury segments such as fashion and design.

Percentage increase in e-commerce market by sector Italy, ****, % Observers.net

4.1 Type of Products

The analysis of sock offerings focuses on several key factors, such as product diversification, innovation in materials, attention to sustainability, and marketing strategies that companies use to stand out in a highly competitive market. Here are the main aspects to consider, supported by relevant sources:

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4.2 Price Analysis

The consumer price index(***).

Men's underwear and socks saw a CPI increase of *.* percent, the highest among the three categories. This reflects a possible increase in production costs, raw materials (***) or transportation, or a relatively stable demand that allowed manufacturers to pass costs on to consumers.

Consumer price index - men's socks Italy, ****-****, base **** = *** - monthly data Istat As for women's underwear and socks, the CPI grew by *.* percent. Although slightly lower than the men's category, the increase may be related to similar dynamics, such as raw material inflation or labor costs, with the addition of possible differences in consumption or pricing patterns related to the women's target market.

Consumer price index - women's socks Italy, ****-****, base **** = *** - monthly data Istat Children's underwear and socks (***): recorded a smaller growth of *.*%.

Consumer price index - child socks Italy, ****-****, base **** = *** - monthly data Istat

4.3 New supply trends

Smart socks are an emerging technology that combines advanced sensors with traditional fabrics to monitor various parameters of health and physical performance. These socks are being used in areas such as sports, health, and wellness, offering real-time information that can prevent problems and improve quality of life.

Medical applications: one of the main uses of smart socks is in monitoring health conditions, particularly for people with chronic diseases such as diabetes. Socks developed by companies such as Siren Care use sensors to monitor foot temperature and detect wounds or ulcers in real time, which is critical for patients with diabetic neuropathy who may not feel pain. [***] Fall prevention: in healthcare, smart socks are also used to prevent falls, especially among the elderly or patients with mobility impairments. These socks monitor plantar pressure and changes in posture, alerting for movements that could indicate a risk of falling.[***] Sports use: for athletes, smart socks offer the ability to monitor foot biomechanics, which helps prevent injuries and optimize performance. Built-in sensors measure parameters such as pressure, weight distribution, and alignment during movement, providing useful feedback through connected apps.[***] Technology and functionality: smart solutions do not require significant behavioral changes on the part of the ...

5.1 Regulation

Regulation of the sock market in Italy and at the European level involves several regulations that mainly govern aspects related to product safety, transparency of information for consumers, environmental standards and intellectual property rights. Here is a summary of the main rules and regulations that apply to socks:

European Legislation

The European Union has an integrated approach to regulating textile products, including the sock sector. The main regulations include:

Regulation (***). Each label must clearly state the percentage of materials used. General Product SafetyDirective ****/**/EC: This directive requires that all products placed on the market, including socks, must be safe for consumer use. Manufacturers must ensure that the materials used are not toxic or harmful to health, and meet European safety standards. REACH Regulation (***) No. ****/****: REACH regulates the use of chemicals in textile products. It imposes restrictions on the use of hazardous chemicals in sock manufacturing processes to protect human health and the environment. This includes substances such as dyes, formaldehyde, and other potentially harmful substances. EC Personal Protective Equipment (***).

Italian regulations

At the national level, Italy applies the European directives mentioned above and adds additional specific regulations for transparency and consumer protection.

Consumer Code (***): the Italian Consumer Code regulates the information ...

5.2 Incentives

Horizon Europe (***)

Horizon Europe is the European Union's main framework program for research and innovation, operating for the period ****-**** with a budget of about **.* billion euros. The program aims to promote competitiveness and sustainable development across Europe by supporting research and innovation projects in many sectors, including textiles and fashion. The main objectives of the program are:

Promote technological and industrial innovation. Encourage ecological and sustainable transition. Improve the competitiveness of European companies in global markets. Facilitate collaborations between academia, business and public institutions.

Within Horizon Europe, there are funding lines that specifically address sustainability, circular economy and innovation in the textile sector, including areas relevant to sock manufacturers. Projects eligible for funding must focus on:

Development of sustainable materials: Research and development of new innovative fibers and materials that reduce the use of natural resources and limit environmental impact. Replacement of traditional materials with recyclable or organic fibers. Circular economy: Development of advanced recycling processes for textiles, including socks. Design of products that facilitate reuse and recycling at end of life. Projects that promote waste reduction throughout the production and consumption chain of socks and textiles. Innovation in production processes: Introduction of technologies that reduce energy consumption and water ...

6.1 Segmentation

• Calzedonia Oniverse
• Pompea
• CSP International
• Fast retailing Group Unoqlo
• Bleuforêt
• Autotex Italia
• Gallo
• H&M (H&M Hennes & Mauritz s.r.l)