FOOTWEAR SOLE MATERIAL MARKET ANALYSIS

Footwear Sole Material MarketSize and Trends

Global Footwear Sole Material market was valued at US$ 21.97 Billion in 2022, exhibiting a CAGR of 4.2 % in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 31.95 Billion by 2030.

Global Footwear Sole Material Market- Trends

• Growing demand for trendy and comfortable shoes especially among the young population

Growing demand for trendy and comfortable shoes especially among the young population is expected to be a major trend in the market. Shifting preferences for buying footwear as per the occasion is another major trend in the market. Athletic, Casuals, fashionable, formals, and traditional are the some of the footwear gaining huge demand.

• Increasing consumption of bio-based materials

Global shoe consumption is continuously increasing, and both the production and disposal of shoes have an influence on the environment. The fact that materials such as leather, rubber, polyvinyl chloride, and polyurethane end up in landfills has a substantial negative influence on the environment. One of the first groups to embrace footwear that is both animal- and environment-friendly is the vegan and vegetarian community. At first, eco-shoes tended to be unsightly, of poor quality, and hard to come by. However, there have been significant developments in bio-based, biodegradable, and recycled footwear. Numerous well-known shoe brands have introduced bio-based soles for footwear on the market. For instance, KEEN Inc. introduced its patented manufacturing process in 2021, which uses agricultural waste to create plant-based soles without the use of chemical solvents. Additionally, sportswear manufacturer PUMA developed a new sugarcane-based midsole in 2021. As part of its aim to make its entire product range more sustainable, the company this spring debuted new footwear models made from recycled materials. Better Foam, which will be utilised in footwear goods this summer, has 35% bio-based components made from sugar cane.