Market Insights Consumer Apparel Women's Apparel

Socks - Guinea

Guinea

In the year 2024, the Socks market in Guinea generated a revenue of US$2.26m.
It is projected that the market will experience an annual growth rate of 2.28% (CAGR 2024-2029).
When compared to other countries worldwide, in China leads in revenue generation with a staggering amount of US$4,337m in 2024.
In terms of per capita income, each person in Guinea contributed US$0.15 to the revenue in 2024.
Looking specifically at the Socks market, the volume is estimated to reach 8.9m pieces by 2029.
There is an anticipated growth of 5.0% in 2025.
On average, each person in Guinea is expected to contribute 0.5pieces in volume to the Socks market in 2024.
Despite the warm climate in Guinea, traditional African print socks are gaining popularity among fashion-conscious locals.

Key regions: Indonesia, Malaysia, Germany, United States, Philippines

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.