Market Definition
The global Shoe with Knitted Upper Market was valued at USD 2.78 billion in 2021 and is predicted to reach USD 4.43 billion by 2030, registering a CAGR of 5.6% from 2022 to 2030. Shoe with knitted upper is a lightweight item of footwear wherein the material is prepared with the help of a knitting machine, which provides extra support and comfort styled in an athletic look. Itis directly made from dyed yarn, eliminating the dying process that further provides choices in various colors. The collar, quarter, lining, and tongue of these shoes are made of knitted material.
The shoe with knitted upper is growing popular among youths owing to the high influence of sports. It requires less manual labor while manufacturing, which increases the production process and eliminates the additional cost of shipping and tariffs. In addition, shoes with knitted upper have the quality of water repellence for wet terrain. It enables designers to utilize more creative approaches with colors, textures, and patterns in accordance with the fluctuating trends of runways.
Market Dynamics and Trends
The demand for shoe with knitted upper is increasing due to the growing awareness of the unfriendly effects of obesity, diabetes, and other cardiac diseases that influence people to participate in jogging, gymnastics, and other exercises for their comforting features. Also, the rapid upsurge in the sports industry inspires children to play soccer, basketball, and tennis among others has been driving the growth of the market. Moreover, growing advancements in knitted technology such as yarn that is dyed without the use of any dying processes, which comes in various colors along with sock-like comfort to maintain a trendy and athletic look boost the market growth.
The rise in stringent government policies is restraining the growth of the market. For instance, the Consumer Product Safety Improvement Act (CPSIA) is applicable for children’s products including footwear for children up to 12 years to go through mandatory lab tests in order to get a children’s product certificate (CPC). On the contrary, technological advancements such as self-lacing, 3D printing customization collaborative robotics, recyclable shoes, and plant-based leather shoes are creating ample growth and opportunities for the market.
Market Segmentations and Scope of the Study
The shoe with knitted upper market report is segmented based on nature, type, distribution channel, and geography. On the basis of nature, the market is divided into disposable and recyclable. On the basis of type, the market is classified into casual shoes, sports shoes, and running shoes. On the basis of distribution channel, the market is categorized into supermarkets/hypermarkets, specialty stores, e-commerce, and others. The geographic breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
North America held the lion’s share of the shoe with knitted upper market size in 2021 and is expected to boost the market during the forecast period. This is attributed to factors such as the high adoption of knitted shoes along with growing cases of overweight individuals that necessitate extra support and a reduction in foot stress. For instance, in 2020, according to the Centers for Disease Control and Prevention (CDC), the U.S. obesity prevalence was recorded at over 41.9 over 41.9%. The obesity prevalence was 39.8% among adults aged 20 to 39 years, 44.3% among adults aged 40 to 59 years, and 41.5% among adults aged 60 and older.
Also, the presence of key players such as PUMA, Nike, Adidas, and Skechers in the region is proliferating the market growth. In January 2019, Skechers launched a sport-knit jogger along with cuffed pair of denim, which is made with knitted machine technology that is stylish and comfortable.
Asia-Pacific is expected to exhibit steady growth in the shoe with knitted upper market during the forecast period due to the progress of e-commerce coupled with the growing awareness of these shoes steered by advertisements and endorsements. For instance, in September 2021, Neeman's launched the ReLive Knits,a shoe made with 100% recycled PET Bottles. Various prominent Bollywood actresses were involved in the promotion and awareness of the ReLive Knits.
Also, the increasing number of sport-inspired children owing to the growing participation of athletes in various sports drives the market growth in this region. For instance, in 2021, according to Heinrich-Böll-Stiftung, a non-profit organization, there were over 12.8% of Olympic athletes who participated from Asia. Such initiatives are projected to create new growth avenues for the market.
Competitive Landscape
The shoe with knitted upper industry comprises various market players such as Stone Island, Adidas AG, ASICS Corporation, FILA Holdings Corp., Jack Wolfskin GmbH & Co. KGaA, K-SWISS, Nike Inc., Puma SE, Skechers USA, Inc., and VF Corporation. These market players are adopting various joint venture strategies and planning the expansion of business across various regions to maintain their dominance in the market.
For instance, in September 2021, Stone Island collaborated with New Balance and released their initial 3D knit upper stripped-down look using 3D technology. The design details include the left foot featuring the Stone Island compass logo and the right foot with bold New Balance graphics.
Key Benefits
-
The shoe with knitted upper market report provides aquantitative analysis of the current market and estimations through 2022-2030 that assists in identifying the prevailing market opportunities to capitalize on.
-
The study comprises a deep dive analysis of the shoe with knitted upper market trend including the current and future trends for depicting the prevalent investment pockets in the market.
-
The information related to key drivers, restraints, and opportunities and their impact on the shoe with knitted uppermarket is provided in the report.
-
The competitive analysis of the market players along with their market share in the global market.
-
The SWOT analysis and Porter’s Five Forces model areelaborated in the study.
-
Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
Shoe with Knitted Upper Market Key Segments
By Nature
-
Disposable
-
Recyclable
By Type
-
Casual Shoes
-
Sports Shoes
-
Running Shoes
By Distribution Channel
-
Supermarkets/Hypermarkets
-
Specialty Stores
-
E-Commerce
-
Others
By Geography
-
North America
-
U.S.
-
Canada
-
Mexico
-
-
Europe
-
UK
-
Germany
-
France
-
Italy
-
Spain
-
Rest of Europe
-
-
Asia-Pacific
-
China
-
India
-
Japan
-
South Korea
-
Australia
-
Rest of Asia-Pacific
-
-
RoW
-
UAE
-
Saudi Arabia
-
South Africa
-
Brazil
-
Remaining countries
-