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Knitted footwear grows at five per cent

Global market for knitted footwear is growing at a compound annual growth rate (CAGR) of 5.9 per cent. These shoes have knitted uppers. The upper part of the shoe is made using machine knitted fabric. These shoes have become increasingly popular among the younger generation owing to the high influence of sports. Other factors are the improvement of living standards, overweight and obesity-related health issues.

The casual shoe segment dominates the knitted footwear market. Based on distribution channels, the specialty store segment is the highest contributor to the knitted footwear market in terms of value and is estimated to grow at a CAGR of 4.4 per cent from 2018 to 2025. Based on type, the running shoe segment is expected to grow at a CAGR of 7.1 per cent from 2018 to 2025. Based on distribution channel, the e-commerce segment accounts for less than a one-third share in the segment and is estimated to grow at a CAGR of eight per cent.

Key players in the knitted footwear market are Adidas, Asics, Fila, New Balance, Nike and Puma. They are focusing on new product launches, improving the product portfolio, overcoming the competition and maintaining or improving their share.

 
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