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Footwear Sole Material Market to Make Great Impact in near Future by 2031
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Key Takeaways from Market Study
• The three core markets for footwear sole material are China, India, and Europe. Markets in ASEAN countries are expected to grow moderately as well.
• China is expected to hold highest share in the global footwear solematerial market, due to the presence of a strong local base and extensive production facilities and availability of raw materials.
• Growing awareness about health and fitness and increasing athletic activities are resulting in rising demand for footwear solesacross geographies. Furthermore, growing popularity of global sporting events is having a positive influence market growth.
• Footwear sole material sales are growing relatively slow since the onset of the COVID-19 pandemic.
“Upsurge in demand for athletic footwear and footwear for fashionin recent years is expected to provide an impetus to footwear solematerial sales. Demand for customized footwear for various purposes is expected to create substantial growth prospects for market players across regions,”- says a Persistence Market Research analyst.
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Competitive Landscape
The global footwear sole material market is moderately consolidated in nature, with key players accounting for a significant market share. Some of the key players in the market are Nike Inc., Adidas AG, Bata Limited, Puma SE, Columbia Sportswear Company, and The Dow Chemical Company, among others. These players are likely to invest in new technologies, especially customized variants, to maintain their high market share.
Market Projections
The market is likely to grow at a moderate pace during 2021-2031. However, as it is a matured market, companies are expected to concentrate more on research & development activities to develop products that meet the personalized requirements of end users. Collaboration with regional manufacturers is framed as a prime strategy that is expected to magnify over the forecast period.
More Valuable Insights
The research report analyzes demand for footwear sole material. The global market has been analyzed with theCOVID-19 impact, macroeconomic factors, market trends,and market background. As per the research scope, the market has been analyzed on the basis of distribution channel, gender, product, material, component,and region. The report gives qualitative and quantitative information on various players in this market. Also, the report tracks the market by both, supply side and demand side.
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