Shoe with Knitted Upper Market Outlook
The global shoe with knitted upper market size was estimated at USD 3,667.9 Million in 2021 and is anticipated to reach USD 10,592.8 Million by 2030, expanding at a CAGR of 13.05% during the forecast period, 2022-2030.
A knitted upper is a material, made of strong, lightweight strands of yarn woven into a shoe. The knitted fabric is the upper part of the knit shoes made from different materials such as polyester, nylon, and spandex fibers. The shoes with Knitted Upper fabric offer several advantages, which include breathability, lightweight, form-fitting, comfortable, and ease to clean.
The upper part of the knit shoes is made from recyclable materials, which offer resistance to odor and reduces waste, reducing environmental pollution. The shoes with Knitted Upper are made using advanced knitting technology, that offers several benefits such as breathability, warmth, and performance benefits.
The demand for knit shoes is rising, as the upper part of the knit shoes is developed using knitting technology and recycling knit materials in the shoe manufacturing process. The design of knitted shoes with uppers is developed using a CNC knitting machine.
The knit machines are loaded with polyester, nylon, and spandex fibers. The upper materials of the knit shoes are developed from circular knitting machines, warp knitting machines, and others, which offer breathability and require less waste to clean.
Shoe with Knitted Upper Market Macro-economic Factors
Raw materials used in the manufacturing of shoes entail the high cost of the process and increase wastage. Mass customization in the footwear industry consumes time, increases labor, and boosts production costs.
The adoption of digital knitting technology in the mass production of knit footwear and reduces waste materials and labor costs. The flat knitted upper design of the knit shoes is resistant to abrasion and offers comfort and stretchability. The usage of bio-recyclable, knitted fabric, and knitting technology, offers convenience and benefits, which in turn, drives the market.
Increasing R&D Investments
The footwear industry is constantly improving design and adopting knitting technology for the manufacturing of sports shoes. The manufacturers of sports shoes focus on the introduction of circular knitting technology, which makes them breathable, odor resistant, and reduces wastage.
The adoption of circular knitting and flat knitting technology is rising in the market, as these are breathable, comfortable, require low production costs, and flexible. Rising awareness about the benefits associated with the use of knitted fabrics for manufacturing sports shoes is creating opportunities in the market.
Shoe with Knitted Upper Market Dynamics
Rise in Number of Children Engaging in Sports
Sport-playing Individuals and professional athletes prefer wearing sports or athletic shoes, as it directly affects their performance. Manufacturers focus on the development of knit sports shoes, which enhances their performance while playing a sport. The demand for knitted fabric is rising in the textile industry, as it offers benefits and customization in the shoe-making process.
Adidas AG has developed a knit fabric called Prime knit for sports shoes, which has a unique design that reduces waste production and offers comfort to the sportsperson. The Nike Fly knit upper fabric adopted knitting technology and offers customization in the knit shoe production process, which enhances the performance of athletes, wearing the knitted shoes.
The Nike fly knit is customized with a micro-level precision-engineered design according to the structure of the foot and the comfort of the consumers. The rising number of consumers wearing sports or athletic shoes boosts the demand for knitted shoes with upper fabric.
Increase in Preference for Knitted Fabrics
The demand for upper materials of the knit shoes is increasing, as these shoes offers comfort, reduces abrasion, improves permeability, and decreases the wastage of materials. Knitted materials are use for making leisure and sports shoes, as they do not retain moisture properties, improve permeability, and offer comfort.
Sport knit shoes manufacturers adopt flat knitting technology while making knit shoes for athletes. Knit shoes made for athletes utilize eco-friendly materials such as recycled plastic from the ocean, recyclable fibers, and organic cotton.
Knit shoes manufacturers are using recycled plastic from the ocean, thus adopting 3D knitting technology, which is an efficient mode of production, which reduces the cost of production and wastage of materials. Thus, rising popularity of knitted fabrics and growing number of environmental consciousness and sustainability in the fabrics industry drive the market.
The government imposed many restrictions and bans on the import and export of the fabrics used in the manufacturing of knit shoes. For instance, Nike Inc announces allegations against Adidas AG's Prime knit shoes for copying the patented innovation of knitted fabric, which reduces waste without any loss in performance. The restrictions imposed by the US trade agency on the import of knitted fabric, negatively impact the sale of knitted shoes with the upper market.
Customization requires long time to production, labor, and inventory costs. The adoption of digital knitting technology offers convenience and satisfaction to consumers, owing to the benefits offered by the knitted shoes. The knitted technology and customization in the design of shoes, prevents foot-related health condition and reduces the wastage of material and labor costs.
Recyclable materials are used in the upper part of the knitted shoes, which reduces environmental pollution in the footwear industry. The automation adopted in the production of knit shoes, owing to the development of knit material through knitting machines.
The knitting machines use eco-friendly materials, which increases its sale on the e-commerce platform. Rising marketing initiatives and preference for online shopping, thus driving the demand for knitted shoes on e-commerce platforms.
Scope of Shoe with Knitted Upper Market Report
The report on the global Shoe with Knitted Upper Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Shoe with Knitted Upper Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
Types (Casual Shoes, Running Shoes, and Sports Shoes), Knitting Machine Type (Weft Knitting Machine, and Wrap Knitting Machine), Distribution Channel (Supermarkets, Hypermarkets, Specialty Stores, E-commerce, and Others)
Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered
ADIDAS AG, ASICS Corporation, Neeman's, Nike, Inc, PUMA SE, SKECHERS USA, Inc, New Balance, K-Swiss US, GREATS, and JACK & JONES.
Shoe with Knitted Upper Market Segment Insights
Type Segment Analysis
Based on type, the market is segmented into casual shoes, running shoes, and sports shoes. The casual shoes segment is expected to hold a considerable share of the market during the forecast. Consumers prefer wearing casual shoes with knitted uppers to accomplish daily activities, as these shoes are comfortable to wear.
Knitting Machine Type Segment Analysis
On the basis of knitting machine type, the market is fragmented into weft knitting machines, and wrap knitting machines. The weft knitting machine segment holds a key share of the market, as various companies are investing in R&D for the application of knitting fabric into various types of shoes.
Distribution Channels Segment Analysis
In terms of distribution channels, the market is classified as supermarkets, hypermarkets, specialty stores, e-commerce, and others. The specialty stores segment is anticipated to grow at a significant pace in the near future, as it focuses on a single class of products.
This gives store managers and employees to develop expertise in marketing and sales of shoes with knitted uppers, which increases the frequency of consumer visits in the specialty stores.
Based on regions, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounted for a significant share of the market in 2021. Key market players such as Nike, Adidas, and Puma in Asia Pacific are launching shoes with Knitted Upper as casual wear. Companies in the region are entering into collaborations for advancements in industrial knitting machines.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global Shoe with Knitted Upper Market
- Historical, Current, and Projected Market Size in Terms of Value
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints, and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Shoe with Knitted Upper Market Performance
- Casual Shoes
- Running Shoes
- Sports Shoes
Knitting Machine Type
- Weft Knitting Machine
- Wrap Knitting Machine
- Specialty Stores
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Key Market Players Profiled in the Report
- ADIDAS AG
- ASICS Corporation
- Nike, Inc.
- PUMA SE
- SKECHERS USA, Inc.
- New Balance
- K-Swiss US
- JACK & JONES
Manufacturers operating in the global Shoe with Knitted Upper Market are ADIDAS AG, ASICS Corporation, Neeman's, Nike, Inc, PUMA SE, SKECHERS USA, Inc, New Balance, K-Swiss US, GREATS, and JACK & JONES.
Market players are pursuing strategies such as acquisitions, product launches, collaborations, and geographic expansion to leverage untapped opportunities in the global Shoe with Knitted Upper Market.