Shoe Materials Market - Forecast(2021 - 2026)

Shoe Materials Market size is forecast to reach $26.7 billion by 2025, after growing at a CAGR of 6.5% during 2020-2025. The main factors for the increase in the demand for footwear, which has resulted in an increase in footwear materials, are due to an increase in disposable income in major countries, especially in the lower- and middle-income classes. Adoption of westernization and increased health awareness that increased demand for athletic footwear has also been attributed to increased demand. Emerging trends, which have a significant impact on the dynamics of the shoe material industry, include the development of the fusion of plastics with other sole materials.

Shoe Materials Market Report Coverage

The report: “Shoe Materials Market– Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Shoe Materials Industry. 

By Material Type: Leather, Fabric/Fibres, Rubber, Adhesives, Foam, and others.

By Application Type: Shoe soles, Insoles, Shoe laces, Shoe upper, and others

By Shoe Type: Athletic and Non-Athletic.

By Geography: North America, South America, Europe, APAC, and RoW.

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Key Takeaways

• North America is expected to remain the largest region over the forecast period due to rising population, growing disposable income, and increasing sports activities in the region.
• The increase in fitness exercise trends such as Zumba and Yoga is creating a huge demand among individuals for sports shoes. The increase in the number of sports enthusiasts and fans of sports such as football, basketball and hockey, is further generating a higher demand for cleats and shoes needed for their respective sports.
• In addition, the upcoming Olympic Summer Games in Tokyo in 2021 is expected to create lucrative opportunities for market players to launch new products and endorse their products to enhance their offerings. This will also lead to driving market growth. 
• However, due to the COVID-19 outbreak, the production of footwear has halted globally. Various manufacturing companies have been shut down, which became the major cause of the reduction in the consumption of shoe material. Owing to this, the market growth of shoe materials is getting affected.
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Shoe Materials Market Segment Analysis - By Material Type

Fabric/Fibers held the largest share in the shoe materials market in 2019 and is growing at a CAGR of 6.1% during the forecast period. The growth of trendy lifestyle among the youth and athletic lifestyle has poised the growth of the market. Comfortable and cost-effective running shoes and trekking shoes are manufactured through the nylon Fabre which have high demand in the market. The casual wears have become trendy and are becoming very popular among the youths. Furthermore, Nylon fiber is used to design stylish running sneakers. The demand for polyester footwear is also increasing due to its lightweight and durability. Owing to this there is a demand for polyester footwear in young population and aged population as well. The growth of textile industry in the developing industry is one of the factors resulting in the growth of the market. The surge in use of fancy casual footwear made up of polyester among youths predominantly in men are driving the growth of the market. 

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Shoe Materials Market Segment Analysis - By Application Type

Shoe upper held the largest share in the shoe materials market in 2019, and is growing at a CAGR of 6.9% during the forecast period. Shoe upper is the fabric or leather portion of the shoe that encases the foot and keeps the foot secured to the sole for walking and standing. The vamp, the back, the tongue, the quarter, and the lining can be included as the part of a shoe upper. Uppers can be made from a variety of materials, with the most popular being leather, fabrics or fibers, rubber, and foam. Athletic shoe uppers also consist of a mesh fabric that respires. Easy straps may be at the shoe upper for sandals and flip-flops. Leather produces about 70-75% of quality footwear. From the past years since footwear began to develop leather became a top, primarily used material for the shoe upper. 

Shoe Materials Market Segment Analysis - By Shoe Type

Athletic shoe type held the largest share in the shoe materials market and is anticipated to grow at a CAGR of 5.5% through the forecast period, due to increase in consumer purchasing power, and growing demand for casual and fashionable footwear. The weight, stability, longevity, and comfort of the shoes can be influenced by athletic shoe material. Although a wide number of brands and types of athletic footwear are available today, their materials were not always as diverse. Thus, in recent years, shoe companies have been steadily designing new shoe materials. There is also an increase in public health consciousness globally, leading to an increase in visits to fitness centers and indoor/outdoor workout programs, which in turn, has boosted the demand for athletic shoes. Though leather is still used today, athletic shoes for increased performance and comfort have recently evolved. This has resulted in the use of thinner materials, and more breathable and flexible synthetic and mesh materials.

Shoe Materials Market Segment Analysis - By Geography

North America held the largest share in the shoe materials market in 2019 up to 41%, owning to flourishing shoe market in the region and growing ecommerce sector. For instance, according to the International Trade Centre, in 2019 import of equipment for general exercise and sports in Mexico increased to $589.09 million in 2019 from $583.46 million in 2018 and $544.2 million in 2017. Amazon.com, Inc. launch a website exclusively for luxury fashion in January 2020. That provides greater availability of products and thus attracts consumers and promotes the growth of the footwear industry. 

Therefore, in turn, the shoe materials demand. According to a survey on Sports Participation in Canada released by Statistics Canada in 2013, the top five most popular sports in the country are golf, ice hockey, soccer, baseball, and volleyball. Currently, the number of participants in these sports and other outdoor activities is increasingly growing, leading to a rise in health consciousness, which has led to an increase in the number of individuals attending fitness facilities and performing indoor and outdoor exercise activities. This, in turn, has increased the market for athletic shoes among all age groups. Therefore, aforementioned factors are driving shoe materials market growth in the region.

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