Press release
Worldwide Sustainable Footwear Market To Reach $13.3 Billion By 2030 | Athletic segment is projected to witness the fastest CAGR of 6.5% from 2021 to 2030.
Rise in the interest of the younger generation and the working class toward the use of sustainable footwear, change in lifestyle, and increase in disposable income drive the growth of the global sustainable footwear market. However, availability of counterfeit products hinders the market growth. On the other hand, product innovation, increase in the number of sport-inspired children, and growth of online shopping platforms offer many opportunities to the market players.
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Sustainable footwear is a type of footwear which is made by recycling waste and are manufactured by eco-friendly production process. In addition to this, surge in youth population, improved lifestyle, and rise in disposable income of individuals in developing countries are anticipated to offer immense opportunities for sustainable footwear market players during the forecast period. Nowadays, sustainable footwear is gaining popularity among the environment conscious consumers which in turn has propel the demand for sustainable footwear from the consumers contributing in driving the sustainable footwear market growth in terms of value sales.
Furthermore, by distribution channel, the online store segment is anticipated to be the fastest growing segment, in terms of value sales during the forecast period. This is attributed to the fact that e-commerce is becoming a popular medium for purchase of footwear including sustainable footwear among customers. This is attributed to easy availability of sustainable footwear and benefits provided by these stores such as information about product functional attribute, time-saving features, and facility of home delivery to customers.
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The global sustainable footwear market is segmented into the distribution channel, demographics, product type, and region.
Based on product type, the non-athletic segment held the largest market share in 2020, contributing to more than two-thirds of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, the athletic segment is projected to witness the fastest CAGR of 6.5% from 2021 to 2030.
Based on the distribution channel, the specialty store segment contributed to the largest share in 2020, accounting for more than two-fifths of the global sustainable footwear market. The same segment is expected to lead the market during the forecast period. However, the online channel is expected to manifest the highest CAGR of 7.0% from 2021 to 2030.
Based on region, Asia-Pacific, followed by North America, contributed to the highest share in 2020, holding more than two-fifths of the total share. On the other hand, Europe is expected to manifest the fastest CAGR of 7.2% from 2021 to 2030.
Leading players of the global sustainable footwear market analyzed in the research include Nike Inc., Adidas group, GIESSWEIN, New Balance, Native shoes, Reebok, Amour Vert, Rothy's, Reformation, and MATISSE FOOTWEAR.
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