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Gel Socks Market will worth USD 329.06 billion by 2030 : GreyViews

Pune India, Jan. 02, 2023 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the gel socks market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the gel socks market are present across various countries in the above-mentioned regions.

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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the type, end-user, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.

The significant players operating in the global gel socks market are EMILYSTORES XIAMEN ZHAOTAI INDUSTRIAL CORP, Pedder Johnson, Earth Therapeutics, Shenzhen Phenitech Technology Co. Ltd., Dr Fredericks’s Original, Miss Spa, Bath Accessories Company, Upper Canada Soap, Silipos Holding LLC, LINDO PRODUCTS, ZenToes, Donnamax Inc., XIAMEN ZHAOTAI INDUSTRIAL CORP, Pinkiou Inc., PolyGel LLC among others. To achieve a substantial market share in the worldwide gel socks market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.

The foot care gel socks contain various essential oils and may include jojoba oil, lavender oil, olive oil, vitamin E, or other additives, depending on the application. Rapid changes in consumer preferences, a growing stress level among consumers, and an increase in disposable income will likely boost the growth of the gel socks market during the forecast period. Furthermore, a number of innovative Gel Socks products have been developed as a result of the development of new technologies. Gel socks protect feet from ulcerations, friction, injury and pressure through the shock-absorbing gel. It is therefore expected that the demand for gel socks will increase among diabetic patients in the near future, thus propelling the global market for gel socks. These innovative products are more effective at reducing foot pain than traditional socks and stockings. As a result of these technological advancements, Gel Socks products are gaining greater consumer acceptance worldwide, which is boosting market growth. Furthermore, increased adult expenditures on fitness and health will increase the demand for gym socks, ankle socks, and various footwear accessories. There is gradually an expansion in demand for gel socks due to growing awareness among diabetes patients and rising foot care activity demand.
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Scope of Gel Socks Market Report:

Report Metric Information
Study Period 2022-2030
Base Year           2022
Forecast Period 2023-2030
Market Share Unit USD Billion
Segments Covered Type, End-User, and Regions.
Regions Covered North America, Europe, Asia-Pacific, South America, and Middle-East and Africa
Major Players EMILYSTORES XIAMEN ZHAOTAI INDUSTRIAL CORP, Pedder Johnson, Earth Therapeutics, Shenzhen Phenitech Technology Co. Ltd., Dr Fredericks’s Original, Miss Spa, Bath Accessories Company, Upper Canada Soap, Silipos Holding LLC, LINDO PRODUCTS, ZenToes, Donnamax Inc., XIAMEN ZHAOTAI INDUSTRIAL CORP, Pinkiou Inc., PolyGel LLC among others

Segmentation Analysis

Non-medical segment is expected to be the fastest-growing segment in 2022. 

The type segment includes non-medical and medical. The non-medical segment is expected to witness the highest growth rate during the forecast period. During the past few years, gel socks have become increasingly popular in non-medical applications. One of the major drivers of this market is the growing demand for medical devices that can be used without medical training.

Men segment is expected to be the fastest-growing segment in 2022. 

The end-user segment includes children, men and women.  The men’s segment is expected to witness the highest growth rate during the forecast period. Studded and patchy clothes are gradually becoming popular among men’s clothing, and their acceptance as accessories to casual and business attire should drive market growth.

Regional Analysis           

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for gel socks include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

The European region witnessed a major share. Growing awareness about organic products and an increase in demand for natural products will drive the growth of the gel socks market in Europe during the forecast period.

Country Analysis

Germany’s gel socks market size was valued at USD 26.12 billion in 2021 and is expected to reach USD 40.69 billion by 2029, at a CAGR of 5.7% from 2022 to 2029.
As a result of a number of factors, such as increasing demand for natural products and the high prevalence of diabetes in Europe, the gel socks market share has grown in Europe.

China’s gel socks market size was valued at USD 14.05 billion in 2021 and is expected to reach USD 22.22 billion by 2029, at a CAGR of 5.9% from 2022 to 2029.
A growing awareness of gel socks among diabetes patients is propelling the growth of the market in the country, and rising healthcare expenditures by the government and private sector will further boost the growth of the market.

India’s gel socks market size was valued at USD 10.81 billion in 2021 and is expected to reach USD 16.97 billion by 2029, at a CAGR of 5.8% from 2022 to 2029.
Diabetes patients are increasingly aware of the use of gel socks, propelling the market’s growth. Moreover, rising government and private healthcare expenditures will further aid in the market’s expansion.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.

Furthermore, the growth of this market is mainly driven owing to the increasing demand from the healthcare segment for diabetes patients across countries.

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