Increase in the population along with rise in the number of environmentally-conscious consumersdrive the global sustainable footwear market. The COVID-19 pandemic has hampered production facilities across the market. The pandemic has also disrupted the supply chains system of material suppliers and distributors operating in the market. This has resulted in a loss of business and value sales.
/EIN News/ — Portland, OR, Oct. 14, 2021 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global sustainable footwear market generated $7.7 billion in 2020, and is anticipated to reach $13.3 billion by 2030, manifesting a CAGR of 5.7% from 2021 to 2030. The report provides in-depth data related to key restraints, key players, key drivers, and opportunities with detailed impact analysis.
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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COVID-19 scenario:
- The outbreak of the COVID-19 pandemic has negatively impacted the market as the production facilities across the global market are disrupted.
- The pandemic has also impacted the supply chains leading to the loss of business.Trade restrictions imposed by several countries have affected global logistics and transportation.
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.
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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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