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Knitted footwear market to reach US $3.1 billion by 2025

Shoe with knitted upper are footwear, where the upper part of the shoe is made using machine knitted fabric has become increasingly popular among the younger generation owing to high influence of sports, which decreases the costs of shipping and tariffs.

Knitted shoe market
Figure: The casual shoe segment is expected to maintain dominance throughout the shoe with knitted upper market forecast period. Courtesy: Amazon.com

The global market size of knitted footwear was valued at US $2 billion in 2017 and is expected to grow at a CAGR of 5.9% to reach US $3.1 billion by 2025.

A new report published by Allied Market Research, titled ‘Shoe by Type and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2018 – 2025’ revealed this.

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.

With the improvement of living standards, overweight and obesity-related health issues and higher demand has been witnessed for comfort of sportswear and athleisure, the report said.

The key players in the shoe with knitted upper market focus on new product launch as the prominent strategy to improve product portfolio, overcome competition, and maintain or improve their shoe with knitted upper market in the global market. The key players profiled in the report include Adidas, Asics, FILA, Jack Wolfskin, K-SWISS, New Balance, Nike, Puma, Skechers, and VF Corporation.

Key players global footwear market

The key findings of the report are:

Based on type, the casual shoe 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%.

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