The US Footwear Market to Be Benefited By the Emergence of Eco-Friendly Products

The US athletic footwear market has been experiencing substantial growth since the past few years. This growth can be attributed to the rising usage of eco-friendly products in the region. Increasing involvement in sports competition, as well as activities such as aerobics, running, and training is also contributing to the growth. Therefore, this is ramblingly affecting the footwear sole material market in the region. Manufacturers in the region are also focusing on innovations in sole technology. They are using sustainable products such as recycled rubber, plastics materials, organic cotton instead of materials such as polyurethane and synthetic rubber, thus, driving the industry demand.

The worldwide population is currently valued at 7.5 billion and is expanding at the sluggish pace. This factor has boosted demand for consumer goods, eventually driving the footwear industry. People generally prefer to buy branded footwear owing to its superior quality. At the same time, people also like to wear trendy and comfortable product. This factor is propelling manufacturers to focus on consumer’s requirement and build customized products preferred by them.

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Driving Forces for the Footwear Sole Market

Expanding urbanization in emerging economies along with rising industrialization will considerably boost the demand for the footwear sole material market in the coming times. Also, in these recent years, several economies have observed the rise in average salary and the participation of women in sports among the middle-class people. This factor may notably affect the footwear sole market further.

The escalation in competitive sports has encouraged the populace to become professionals, therefore, stimulating the demand for footwear sole market. Regions such as ASEAN, India, and China are facing high demand in the footwear industry. People among all age groups in these regions are displaying more importance for trendy and fashionable footwear, eventually fueling the consumption and revenue growth of sole material market further.

Leather to Significantly Contribute In Surge of Athletic Segment Mainly In Asia Pacific

Among athletic and non-athletic types of sole materials, athletic footwear is likely to lead the market further. This segment consumed for the maximum shares in 2015 and is anticipated to contribute over 50% by the end of the forecast period (2016-2024). Escalating participation of people in sports and fitness related activities will considerably propel the demand for the aforementioned segment in the coming years.

Based on materials, leather is expected to play a significant role by accounting for the largest shares in the market. The rising demand for leather shoes both among males and females is higher as compared to other materials. Further, the global demand for leather will rise at the strong CAGR of 3.8% during the time of the assessment period.

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Regionally, Asia Pacific will record major shares for the footwear sole material in terms of sales. The region expanding at the CAGR of 4.3% during the coming times. This owes to the high demand for athletic as well as non-athletic shoes coupled with increased preference of leather material in the region. On the other hand, footwear sole material market in the Latin America region will escalate at the decent CAGR of 3.9% during the forecast period. Some of the top-most makers across the globe are Columbia Sportswear Company, Huntsman Corporation, Bata India Limited, and Adidas AG.

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