The global sustainable footwear market size is expected to reach USD 11.8 billion by 2027, expanding at a CAGR of 5.8% from 2020 to 2027, according to a new report by Grand View Research, Inc. The market growth is attributed to the advancements and innovations pertaining to sustainable production methods and materials, along with functionality and comfort of footwear without compromising on the appeal.
Growing
awareness among consumers, increasing education levels, social influences, and
preference for sustainable products are anticipated to bode well for the
market. Millennials and Gen X are more inclined towards individualized
products. Young consumers want unique and customized products.
Footwear
brands and companies are engaged in retaining their customers by practicing
sustainable business practices across manufacturing and supply chain. 68% of
consumers consider sustainability to be a driving factor, and hence a part of
final purchase.
The
sustainable footwear market is segmented into athletic and non-athletic
footwear. Athletic shoe is gaining importance, and hence the innovations and
developments made by the brands are necessary. Nike is perpetually on the top
list in sustainable sportswear as it launched sustainable sneakers made of
Flyknit material, which is made from 50% recycled fibre.
Many
leading global players such as New Balance, Adidas, Nike, and Reebok have
changed their way of production to be eco-friendlier. The current practice
involves tackling plastic pollution via recycling. For instance, Vivobarefoot
designed a line of shoes that is made of recycled bottles and Converse Renew
collection uses 100% recycled plastic bottles for its shoes.
Asia
Pacific dominated the market in 2019 and is expected to maintain its lead over
the forecast period. Increasing disposable income, growing influence of latest
fashion trends, and rapid urbanization are the key factors driving the market
in Asia Pacific.
Full Research Report On Sustainable Footwear Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/sustainable-footwear-market
Sustainable
Footwear Market Report Highlights
- By type, the
non-athletic footwear accounted for the largest share of the overall
revenue in 2019
- Based on end
user, the men segment held the largest share in 2019
- Asia Pacific
dominated the market in 2019 and is expected to maintain its lead over the
forecast period. China and India, the two most populous countries, offer a
huge marketplace for the big players to tap into
- Some of the
key players operating in the global market are Tropicalfeel, Adidas group,
Nike, New Balance, Rothy’s, Veja, Reformation, Nisolo, native shoes,
Matisse footwear, Amour Vert, and Threads 4 thought.
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https://www.grandviewresearch.com/industry-analysis/sustainable-footwear-market/request/rs1
Grand View Research has
segmented the global sustainable footwear market on the basis of type, end
user, and region:
Sustainable
Footwear Market Segmentation
Sustainable
Footwear Type Outlook (Revenue, USD Million, 2016 - 2027)
- Athletic
- Non-athletic
Sustainable
Footwear End-user Outlook (Revenue, USD Million, 2016 - 2027)
- Men
- Women
- Children
Sustainable
Footwear Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Central & South America
- Brazil
- Middle East & Africa
- South Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company, registered
in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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