Shoe with Knitted Upper Market Size Hits $3.19 Billion by 2025

According to a new report published by Allied Market Research, titled,"Shoe with knitted upper Market by Type and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global shoe with knitted upper market size was $2,031.0 million in 2017 and is estimated to reach $3,195.1 million in 2025 growing at a CAGR of 5.9% through the forecast period. The casual shoe segment dominated the global shoe with knitted upper market in 2017 and is expected to maintain the dominance throughout the shoe with knitted upper market forecast period. Shoe with knitted upper are footwear in which the upper part of the shoe is made using machine knitted fabric. These shoes provide sock like comfort and maintain a trendy yet athletic look. The shoe with knitted upper has become increasingly popular among the younger generation owing to high influence of sports. The knitted upper shoe requires very little manual labor while manufacturing, which allows footwear manufacturers to move production closer to their larger markets, which decreases the costs of shipping and tariffs.

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By shoe type, the running shoes segment is projected to grow at the highest CAGR of 7.1% during the forecast period, on account of the rise in sports-inspired children and growing awareness of health and fitness around the globe. However, the casual shoes segment generated almost half of the overall revenue in 2017 and is expected to continue its dominance through 2025, owing to aggressive advertising and rise in disposable income of consumers.

By distribution channel, the e-commerce segment is expected to register the highest CAGR of 8.0% from 2018 to 2025, due to the increasing penetration of internet and smartphone worldwide that facilitates online shopping. However, the specialty stores segment is poised to continue its global market dominance on account of its massive popularity and being perceived as a safer option by consumers.

Regionally, Asia-Pacific would continue its global market dominance and occupy around three-quarter of the overall shares by 2025. This is attributed to the rise in number of sports-inspired children in the region and growing precautions concerning foot health and injury. However, LAMEA is projected to grow at the fastest CAGR of 7.8% during the forecast period, due to increasing adoption of sports and rising disposable income of people

Key findings of the Shoe With Knitted Upper Market:

Based on type, the casual shoes segment was the highest contributor to the shoe with knitted upper market growth and is expected to grow at a CAGR of 5.0%, from 2018 to 2025.
Based on distribution channel, the specialty stores segment was the highest contributor to the shoe with knitted upper market in terms of value in 2017 and is estimated to grow at a CAGR of 4.4% from 2018 to 2025.
Based on type, the running shoes segment is expected to grow at the highest CAGR of 7.1% from 2018 to 2025.
Based on distribution channel, the e-commerce segment accounted for less than one-third in the shoe with knitted upper market share in 2017 and is estimated to grow at a CAGR of 8.0%.
Based on distribution channel, the others segment accounted is anticipated to grow at the higher CAGR of 6.2% during the forecast period.

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The key players analyzed in the report include Adidas AG, ASICS Corporation, K-Swiss, Nike, Inc., PUMA, and Skechers USA, Inc. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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