Shoe with Knitted Upper Market to Reach $4.5 Billion, Globally, by 2033 at 5.4% CAGR: Allied Market Research
Wilmington, Delaware, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Shoe with Knitted Upper Market by Type (casual shoes, sports shoes and running shoes), and Distribution Channel (supermarkets & hypermarkets, pecialty stores, e-commerce and others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the shoe with knitted upper market was valued at $2.7 billion in 2023, and is estimated to reach $4.5 billion by 2033, growing at a CAGR of 5.4% from 2024 to 2033.
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Prime determinants of growth
The prime determinants of growth in the shoe with knitted upper market are multifaceted and interconnected. A key driver is the increasing consumer demand for comfort and functionality in footwear. Knitted uppers offer superior flexibility, breathability, and a custom-like fit, aligning with contemporary preferences for both casual and athletic wear. This growing focus on comfort is particularly evident in the rising popularity of athleisure and casual footwear, where knitted designs are increasingly favored for their performance and style.
Technological advancements in knitting techniques also play a crucial role. Innovations such as 3D knitting and seamless construction enhance the design possibilities and functionality of knitted uppers, leading to more durable and high-performance footwear options. Additionally, the trend towards sustainability is significantly influencing market growth. Consumers are increasingly seeking eco-friendly products, and the use of recycled materials and sustainable production methods in knitted upper shoes meets this demand, contributing to their rising appeal.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $2.7 billion |
| Market Size in 2033 | $4.5 billion |
| CAGR | 5.4% |
| No. of Pages in Report | 270 |
| Segments Covered | type, distribution channel, and region. |
| Drivers |
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| Opportunity |
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| Restraints |
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Segment Highlights
The casual shoes segment have high demand in shoe with knitted upper market. The casual shoes segment in the knitted upper market experiences high demand due to several compelling factors. Knitted uppers offer exceptional comfort and flexibility, providing a snug yet adaptable fit that enhances daily wear. Their versatility and modern style make them suitable for a wide range of casual activities and outfits, appealing to consumers seeking both fashion and functionality. The breathable and lightweight nature of knitted uppers keeps feet cool and dry, making them ideal for extended wear in various climates. Moreover, the ease of maintenance, with many being machine-washable or easily wiped clean, adds to their practicality. Advances in knitting technology also enable innovative designs and patterns, further attracting consumers looking for unique and trendy casual footwear options. These combined attributes contribute to the strong demand for casual shoes with knitted uppers.
The specialty store segment have high demand in shoe with knitted upper market. These stores offer deep expertise and product knowledge, allowing them to provide detailed information and personalized recommendations, which enhances the shopping experience and builds consumer trust. They also feature curated selections of high-quality and innovative knitted upper shoes, ensuring that customers find unique and fashionable options not always available in general retail outlets. The enhanced shopping experience, including opportunities to try on various styles and receive expert advice, appeals to consumers seeking specialized footwear solutions. Additionally, specialty stores often carry exclusive collections or brands, driving demand as consumers seek distinctive and trendy products.
Regional Outlook
Asia-Pacific dominates the shoe with knitted upper market for several key reasons that underscore its leadership in the industry. The region benefits from a robust and rapidly expanding manufacturing base, with advanced textile and knitting technologies driving production efficiency and innovation. Countries like China, Vietnam, and India are significant producers of knitted upper shoes, leveraging their extensive manufacturing infrastructure to meet growing demand.Moreover, the Asia-Pacific region has a large and diverse consumer base with varying preferences and a rising middle class that is increasingly investing in fashionable and comfortable footwear. This demographic shift fuels high demand for knitted upper shoes, which offer both style and functionality.
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Players: -
- Adidas AG
- Asics Corporation
- FILA Korea ltd.
- Jack Wolfskin GmbH & Co.
- KGaA
- K-SWISS (E. Land World Company, ltd.)
- New Balance
- Nike, Inc.
- Puma SE (Kering)
- Skechers USA, Inc.
- VF Corporation (VFC) .
The report provides a detailed analysis of these key players in the global wireless stereo headset market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Recent Developments
- In September 2021, New Balance collaborated with Stone Island and have 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.
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