Market Insights Consumer Apparel Men's Apparel

Socks - Rwanda

Rwanda

The Socks market in Rwanda is projected to generate a revenue of US$2.56m in 2024.
This market is expected to grow annually by 3.63% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this segment, amounting to US$3,136m in 2024.
In terms of per person revenues, in Rwanda generates US$0.18 in 2024.
Looking at the volume of the Socks market, it is anticipated to reach 5.5m pieces by 2029.
The growth rate for the Socks market in 2025 is projected to be 5.5%.
On average, each person in Rwanda is expected to purchase 0.3pieces volumes of socks in 2024.
Rwandan consumers are increasingly embracing locally-made socks, reflecting a rising trend of supporting domestic industries.

Key regions: Singapore, Europe, Malaysia, United States, Australia

Market

Region

Region comparison

Currency

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on the consumer spending on clothing which comprises women, men, and children segments that are produced for private end customers for both offline retail (department stores, traditional specialist shops) and online retail (e-commerce, ordering by catalog).

Modeling approach / Market size:

Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use resources from the Statista platform, national statistics, industry research, market data from independent databases and third-party sources, historical developments, current trends, reported performance indicators from the key market players, and Statista interviews with market experts. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, consumer price index and population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the exponential trend smoothing illustrates suited forecasting for the Apparel market with projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional Notes :

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.