Global shoe with knitted upper market is anticipated to grow at a CAGR of 5.9% from 2018 to 2025, driven by the rising trend towards sedentary lifestyle and increase in the number of sports-inspired children worldwide. The casual shoes segment would continue its dominance throughout the forecast period, while the e-commerce distribution channel segment would register the highest growth rate in the near future.
According to a recent report published by Allied Market Research, the global shoe with knitted upper market is expected to attain $3.19 billion by 2025, registering a CAGR of 5.9% during the forecast period, 2018-2025.
Surge in number of sports-inspired children worldwide along with growing trend towards sedentary lifestyle which causes myriad health concerns drive the growth of the global shoe with knitted upper market. However, the implementation of rapid government regulations toward footwear industries hampers market growth. Nonetheless, the upsurge in e-commerce sales is set to provide lucrative opportunities to emerging market players in the near future.
Based on the interviews of various top-level CXOs of leading companies, the rise in the disposable income and improvements in the living standard has been the major factor driving the growth of the market. This rise in demand for this product is also attributed to the functional benefits such as the lightweight and comfort, which also supports its growth in the global market.
Furthermore, rise in the number of sports inspired children and rise in concerns about foot health among customers also boost the growth of the global shoe with knitted upper market. However, implementation of government regulations toward footwear industries majorly restricts the market growth.
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By shoe type, the running shoes segment is projected to grow at the highest CAGR of 7.1% during the forecast period, on account of the rise in sports-inspired children and growing awareness of health and fitness around the globe. However, the casual shoes segment generated almost half of the overall revenue in 2017 and is expected to continue its dominance through 2025, owing to aggressive advertising and rise in disposable income of consumers.
By distribution channel, the e-commerce segment is expected to register the highest CAGR of 8.0% from 2018 to 2025, due to the increasing penetration of internet and smartphone worldwide that facilitates online shopping. However, the specialty stores segment is poised to continue its global market dominance on account of its massive popularity and being perceived as a safer option by consumers.
Regionally, Asia-Pacific would continue its global market dominance and occupy around three-quarter of the overall shares by 2025. This is attributed to the rise in number of sports-inspired children in the region and growing precautions concerning foot health and injury. However, LAMEA is projected to grow at the fastest CAGR of 7.8% during the forecast period, due to increasing adoption of sports and rising disposable income of people
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The key players analyzed in the report include Adidas AG, ASICS Corporation, K-Swiss, Nike, Inc., PUMA, and Skechers USA, Inc. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.
Key Findings of the Shoe With Knitted Upper Market:
Based on type, the casual shoes segment was the highest contributor to the shoe with knitted upper market growth and is expected to grow at a CAGR of 5.0%, from 2018 to 2025.
Based on distribution channel, the specialty stores segment was the highest contributor to the shoe with knitted upper market in terms of value in 2017 and is estimated to grow at a CAGR of 4.4% from 2018 to 2025.
Based on type, the running shoes segment is expected to grow at the highest CAGR of 7.1% from 2018 to 2025.
Based on distribution channel, the e-commerce segment accounted for less than one-third in the shoe with knitted upper market share in 2017 and is estimated to grow at a CAGR of 8.0%.
Based on distribution channel, the others segment accounted is anticipated to grow at the higher CAGR of 6.2% during the forecast period.
Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of ‘Market Research Reports’ and ‘Business Intelligence Solutions.’ AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.