Shoe Materials Market - Forecast(2022 - 2027)

Report Code: CMR 1372 Report Format: PDF + Excel

Shoe Materials Market Overview

Shoe Materials Market size is forecast to reach $26.7 billion by 2025, after growing at a CAGR of 6.5% during 2020-2025. The main factors for the increase in the demand for footwear, which has resulted in an increase in footwear materials, are due to an increase in disposable income in major countries, especially in the lower- and middle-income classes. Adoption of westernization and increased health awareness that increased demand for athletic footwear has also been attributed to increased demand. Emerging trends, which have a significant impact on the dynamics of the shoe material industry, include the development of the fusion of plastics with other sole materials.

Shoe Materials Market Report Coverage

The report: “Shoe Materials Market– Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Shoe Materials Industry. 
By Material Type: Leather, Fabric/Fibres, Rubber, Adhesives, Foam, and others.
By Application Type: Shoe soles, Insoles, Shoe laces, Shoe upper, and others
By Shoe Type: Athletic and Non-Athletic.
By Geography: North America, South America, Europe, APAC, and RoW.

Key Takeaways

  • North America is expected to remain the largest region over the forecast period due to rising population, growing disposable income, and increasing sports activities in the region.
  • The increase in fitness exercise trends such as Zumba and Yoga is creating a huge demand among individuals for sports shoes. The increase in the number of sports enthusiasts and fans of sports such as football, basketball and hockey, is further generating a higher demand for cleats and shoes needed for their respective sports.
  • In addition, the upcoming Olympic Summer Games in Tokyo in 2021 is expected to create lucrative opportunities for market players to launch new products and endorse their products to enhance their offerings. This will also lead to driving market growth. 
  • However, due to the COVID-19 outbreak, the production of footwear has halted globally. Various manufacturing companies have been shut down, which became the major cause of the reduction in the consumption of shoe material. Owing to this, the market growth of shoe materials is getting affected.

Shoe Materials Market Segment Analysis - By Material Type

Fabric/Fibers held the largest share in the shoe materials market in 2019 and is growing at a CAGR of 6.1% during the forecast period. The growth of trendy lifestyle among the youth and athletic lifestyle has poised the growth of the market. Comfortable and cost-effective running shoes and trekking shoes are manufactured through the nylon Fabre which have high demand in the market. The casual wears have become trendy and are becoming very popular among the youths. Furthermore, Nylon fiber is used to design stylish running sneakers. The demand for polyester footwear is also increasing due to its lightweight and durability. Owing to this there is a demand for polyester footwear in young population and aged population as well. The growth of textile industry in the developing industry is one of the factors resulting in the growth of the market. The surge in use of fancy casual footwear made up of polyester among youths predominantly in men are driving the growth of the market. 

Shoe Materials Market Segment Analysis - By Application Type

Shoe upper held the largest share in the shoe materials market in 2019, and is growing at a CAGR of 6.9% during the forecast period. Shoe upper is the fabric or leather portion of the shoe that encases the foot and keeps the foot secured to the sole for walking and standing. The vamp, the back, the tongue, the quarter, and the lining can be included as the part of a shoe upper. Uppers can be made from a variety of materials, with the most popular being leather, fabrics or fibers, rubber, and foam. Athletic shoe uppers also consist of a mesh fabric that respires. Easy straps may be at the shoe upper for sandals and flip-flops. Leather produces about 70-75% of quality footwear. From the past years since footwear began to develop leather became a top, primarily used material for the shoe upper. 

Shoe Materials Market Segment Analysis - By Shoe Type

Athletic shoe type held the largest share in the shoe materials market and is anticipated to grow at a CAGR of 5.5% through the forecast period, due to increase in consumer purchasing power, and growing demand for casual and fashionable footwear. The weight, stability, longevity, and comfort of the shoes can be influenced by athletic shoe material. Although a wide number of brands and types of athletic footwear are available today, their materials were not always as diverse. Thus, in recent years, shoe companies have been steadily designing new shoe materials. There is also an increase in public health consciousness globally, leading to an increase in visits to fitness centers and indoor/outdoor workout programs, which in turn, has boosted the demand for athletic shoes. Though leather is still used today, athletic shoes for increased performance and comfort have recently evolved. This has resulted in the use of thinner materials, and more breathable and flexible synthetic and mesh materials.

Shoe Materials Market Segment Analysis - By Geography

North America held the largest share in the shoe materials market in 2019 up to 41%, owning to flourishing shoe market in the region and growing ecommerce sector. For instance, according to the International Trade Centre, in 2019 import of equipment for general exercise and sports in Mexico increased to $589.09 million in 2019 from $583.46 million in 2018 and $544.2 million in 2017. Amazon.com, Inc. launch a website exclusively for luxury fashion in January 2020. That provides greater availability of products and thus attracts consumers and promotes the growth of the footwear industry. Therefore, in turn, the shoe materials demand. According to a survey on Sports Participation in Canada released by Statistics Canada in 2013, the top five most popular sports in the country are golf, ice hockey, soccer, baseball, and volleyball. Currently, the number of participants in these sports and other outdoor activities is increasingly growing, leading to a rise in health consciousness, which has led to an increase in the number of individuals attending fitness facilities and performing indoor and outdoor exercise activities. This, in turn, has increased the market for athletic shoes among all age groups. Therefore, aforementioned factors are driving shoe materials market growth in the region.

Shoe Materials Market Drivers

Growth in footwear industry and increasing average salary of individuals

Growth of the footwear industry, especially in emerging economies is expected to be the key factor driving the demand for footwear. According to data from the Brazilian Footwear Industries Association (Abicalcdos), 114.55 million pairs of shoes were exported, footwear exports from Brazil grossed $967 million in 2019. The figures indicate a 0.9% growth in volume over the 2018 figures. According to International Trade Center, U.K footwear export increased from $694.38 million in 2018 to $868.46 million in 2019. According to the International Trade Center, Belgium is the 7th largest importer of footwear in the world. Belgium's imports of footwear rose from $1,773.07 million in 2018 to $1,787.21 million in 2019. According to Bata India FY17 Annual report, India is the world's second-largest producer of footwear, accounting for around 9 percent of the world's annual production of ~22 billion pairs of footwear, compared to China, which accounts for over 60 percent of global production. In addition, in 2016, India exported more than US$ 2.7 billion worth of footwear products to the global market. In addition, increase in average salary of individuals in developing countries is driving the need for trendy and fashionable footwear. According to the Global Wealth Study 2018, South Korea's average wealth of USD 171,740 is well above that of most countries in the Asia-Pacific region and is close to that of Western Europe. Throughout the 2000–18-year cycle, wealth per adult increased at an average annual rate of 7.2 percent. In addition, the number of Chinese with at least 10 million yuan ($1.47 million) of investable assets reached 1.6 million in 2016, up from 180,000 in 2006, according to China Merchants Bank's 2017 China Private Wealth Survey. Therefore, rising average income of individuals is leading to increased demand for luxury goods, including footwear, which in turn influence the shoe materials market.

Shoe Materials Market Challenges

Competition from the unorganized footwear sector leading to reduction in growth of shoe market from organised sector:

Brands and retailers have been impacted by a large number of unorganized players selling goods at very low prices to sell their products on the market. In order to attract consumers, retailers offering branded products have to focus on creative and technology-enabled techniques. In developing countries such as India footwear market is dominated by unorganized players. Unorganized players make up nearly 85 percent of the Indian footwear industry. Those players market their goods at incomprehensibly low rates and have advantages such as lower income tax, lower overhead costs, lower labor costs, and lack of R&D spending. As organized players pass on the pricing advantages to buyers, this will increase competition, as unorganized players attempt to join the organized space. In India, ninety percent of the total footwear produced is consumed within the region, while the remaining ten percent is exported primarily to European countries including the United Kingdom, Germany, Italy and France. However, as customer appetite and shopping habits are shifting, organized retail players are finding room in the market for themselves. The footwear market in India is highly fractured, considering the existence of multinational brands such as Adidas, Nike and more and approximately 75% of demand comes from the unorganized sector which includes micro, small and medium enterprises (MSMEs). All these factors affect the market growth for shoes from organized sector which in turn hinders the market growth for shoe materials.

The emergence of COVID-19.

The COVID-19 pandemic has negatively impacted the global economy and lowered equity valuations, in addition to disrupting global supply chains and workforce participation. Quarantines and "stay in place" orders, the timing and length of containment and eradication solutions, travel restrictions, absenteeism by infected workers, labor shortages, or other disruptions to supply chain or customers have adversely impacted the sales and operating results and has resulted in some production delays in shoe materials market. In addition, globally, various companies have experienced the temporary closure of many of the customer's retail locations and temporarily shut down factories to comply with the government "stay in place" orders. It is expected that this global pandemic will have a major impact on the shoe materials market. And it is expected that the outbreak of COVID-19 will be seen in the whole year of 2020, and a few months in 2021. 

Shoe Materials Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Shoe Materials Market. In 2019, the market of Shoe Materials has been consolidated by the top five players accounting for 81% of the share. Major players in the Shoe Materials market are NIKE Inc., Adidas, Dow Inc, BASF SE, Anhui Anli Material Technology Co. Ltd, Trencilo S.L, Garrett Leather, JBS S.A. and Braskem S.A. among others. 

Expansion/Product Launches

  • In 2020, by opening the first global Footwear Innovation Center in Taiwan, BASF has expanded its business with the goal of enabling brands to optimise production processes and increase performance.
  • In 2018, Dow Inc. launched new soling systems, to serve the “athleisure” and protective footwear markets. Enerlyte polyurethane elastomer is a system developed for the active user to carry the "athleisure" market to lightweight, robust, high "energy-return" and soft-touch soles.
  • In 2016, Dow Inc. entered into partnership with China's Xtep for its Softpad insoles adopting Dow Comfort Science’s Voralast PU memory foam. This partnership helped both the company grow by bringing innovation to high-demand markets.

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1. Shoe Materials Market- Market Overview
    1.1 Definitions and Scope
2. Shoe Materials Market- Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key Trends by Material Type
    2.3 Key Trends by Application Type
    2.4 Key Trends by Shoe Type
    2.5 Key Trends by Geography
3. Shoe Materials Market- Landscape
    3.1 Comparative analysis 
        3.1.1 Market Share Analysis- Top Companies
        3.1.2 Product Benchmarking- Top Companies
        3.1.3 Top 5 Financials Analysis
        3.1.4 Patent Analysis- Top Companies
        3.1.5 Pricing Analysis
4. Shoe Materials Market - Startup companies Scenario Premium Premium 
    4.1 Top startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Market Shares
        4.1.4 Market Size and Application Analysis
        4.1.5 Venture Capital and Funding Scenario
5. Shoe Materials Market– Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case studies of successful ventures
    5.4 Customer Analysis - Top companies
6. Shoe Materials Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Market Opportunities
    6.4 Porters five force model
        6.4.1 Bargaining power of suppliers
        6.4.2 Bargaining powers of customers
        6.4.3 Threat of new entrants
        6.4.4 Rivalry among existing players
        6.4.5 Threat of substitutes 
7. Shoe Materials Market -Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Product life cycle
    7.4 Suppliers and distributors Analysis
8. Shoe Materials Market– By Material Type (Market Size -$Million)
    8.1 Leather
        8.1.1 Synthetic Leather 
            8.1.1.1 PU Leather
            8.1.1.2 PVC Leather
            8.1.1.3 Others
        8.1.2 Natural Leathers
    8.2 Fabric/Fibres
        8.2.1 Cotton
        8.2.2 Polyester
        8.2.3 Wool
        8.2.4 Nylon
        8.2.5 Others
    8.3 Rubber
        8.3.1 Natural Rubber
        8.3.2 Nitrile butadiene rubber
        8.3.3 EPDM (ethylene propylene diene monomer) 
        8.3.4 Others
    8.4 Adhesives
    8.5 Foam
    8.6 Others
9. Shoe Materials Market– By Application Type (Market Size -$Million)
    9.1 Shoe soles
        9.1.1 PU shoe sole
        9.1.2 TPR shoe sole
        9.1.3 PVC shoe sole
        9.1.4 Others
    9.2 Insoles
    9.3 Silicone Insoles
    9.4 EVA Foam Insoles
    9.5 Molded Insoles
    9.6 Others
    9.7 Shoe laces
        9.7.1 Nylon Shoe laces
        9.7.2 Polyester Shoe laces
        9.7.3 Others
    9.8 Shoe upper
    9.9 Others
10. Shoe Materials Market– By Shoe Type (Market Size -$Million)
    10.1 Athletic
    10.2 Non-Athletic
11. Shoe Materials Market - By Geography (Market Size -$Million)
    11.1 North America
        11.1.1 USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 South America
        11.2.1 Brazil
        11.2.2 Argentina
        11.2.3 Colombia
        11.2.4 Chile
        11.2.5 Rest of South America
    11.3 Europe
        11.3.1 U.K
        11.3.2 Germany
        11.3.3 Italy
        11.3.4 France
        11.3.5 Russia
        11.3.6 Spain
        11.3.7 Netherlands
        11.3.8 Belgium
        11.3.9 Rest of Europe
    11.4 Asia Pacific
        11.4.1 China
        11.4.2 India
        11.4.3 Japan
        11.4.4 South Korea
        11.4.5 Australia & New Zealand
        11.4.6 Rest of Asia Pacific
    11.5 RoW
        11.5.1 Middle East
        11.5.2 Africa 
12. Shoe Materials Market- Entropy
    12.1 New Product Launches
    12.2 M&A’s, Collaborations, JVs and Partnerships
13. Market Share Analysis Premium
    13.1 Market Share by Country- Top companies
    13.2 Market Share by Region- Top companies
    13.3 Market Share by type of Product / Product category- Top companies
    13.4 Market Share at global level- Top companies
    13.5 Best Practices for companies
14. Shoe Materials Market- List of Key Companies by Country Premium 
15. Shoe Materials Market Company Analysis
    15.1 Market Share, Company Revenue, Products, M&A, Developments
    15.2 Company 1
    15.3 Company 2
    15.4 Company 3
    15.5 Company 4
    15.6 Company 5
    15.7 Company 6
    15.8 Company 7
    15.9 Company 8
    15.10 Company 9
    15.11 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"