Regional Analysis:
Asia Pacific was the largest market for waterproof socks due to increasing popularity of snow sports, hiking, and trekking in the region. Europe is the second-largest market for waterproof socks, as winter sports and mountain sports are very popular, especially in the Northern and Western Europe. Increasing popularity of outdoor recreational activities and winter sports such as ice skating, skiing, sledding, snowboarding, and snowmobiling in North America, position it as a highly lucrative market for waterproof socks. Around 61 million skiers and snowboarders visited the U.S. during 2021-2022 as per stats released by National Ski Areas Association (NSAA). NSAA divides the country into six regions. The Rocky Mountain region reported a record high number of skier visits, totaling 25.2 million visits. Other regions with increases in season-over-season skier visits were the Northeast, Midwest and Pacific Southwest. Only two regions – the Southeast and Pacific Northwest – reported decreases in skier visits compared to 2020-21.
Asia Pacific held the largest revenue share of 40% in 2022 and is expected to retain its dominance over the forecast period
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