This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
Sustainable Footwear Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
GET A FREE SAMPLE
Report Overview
The global sustainable footwear products market was valued at USD 25.3 billion in 2022 and is projected to expand at a CAGR of 8.1% from 2023 to 2030. Consumers are becoming increasingly aware of the environmental damages caused by footwear production and are now more inclined to purchase sustainable footwear. This is primarily due to the growing number of initiatives taken by governments, NGOs, and other organizations to raise awareness about sustainable practices. Furthermore, an increase in the number of sustainable fashion bloggers and influencers who are advocating for sustainable fashion is further driving the demand for sustainable footwear.
The increasing demand for vegan footwear is propelling the demand for the market. Vegan shoes are made from materials such as canvas, cork, and rubber, and do not contain animal skin or fur. These shoes are gaining popularity due to their environmental sustainability and are becoming increasingly popular among millennials and generation Z. Furthermore, the surge in awareness about animal cruelty has led to an increase in the demand for vegan footwear. Moreover, vegan shoes are often seen as a trendy and fashionable choice, which is further increasing the demand for these products.
Moreover, the growing demand for sustainable sports and outdoor footwear is further driving the market growth. The increased availability of sustainable materials, such as natural rubber and sugar cane, has led to an increase in the production of eco-friendly sports and outdoor footwear. Furthermore, advancements in the production of these materials have led to an increase in their durability and comfort, thus boosting their demand.
The increasing number of collaborations between leading footwear brands and sustainable fashion designers is further propelling the demand for the market. Furthermore, the collaborations between footwear brands and sustainable fashion designers are improving the outlook of the market. For instance, in June 2021, Puma and sustainable fashion designer Stella McCartney launched the new Stella McCartney X Puma Cali collection. The collection consists of shoes and clothing made from sustainable materials such as organic cotton, recycled polyester, and eco-friendly leather.
The increasing promotion of sustainable footwear via online platforms is further supporting the market growth. The online platform is increasingly being used by consumers for the purchase of sustainable footwear. Furthermore, the increasing number of online campaigns and influencer-led initiatives is further driving the online sales of sustainable footwear. For instance, in January 2021, Adidas launched the #Hereshowwerun campaign to promote sustainable footwear. The campaign featured various influencers, who posted their stories and experiences while running in Adidas’ sustainable shoes.
Product Insights
The recycled materials segment held the largest share in the market in 2020. In recent years, the demand for sustainable footwear has increased due to the growing trend of eco-friendly fashion across the globe. Manufacturers are increasingly focusing on the use of sustainable materials such as recycled plastic, cork, rubber, and other materials for the production of footwear. Companies such as Adidas, Reebok, and H&M are offering a wide range of sustainable shoes made of recycled materials. Furthermore, rising consumer awareness regarding the negative impact of non-biodegradable materials on the environment and health is expected to drive the demand for sustainable footwear in the coming years.
The vegan footwear segment is anticipated to expand at the fastest CAGR of 8.3% over the forecast period. The increasing awareness among consumers about animal welfare and the health benefits of vegan footwear is driving the demand for vegan shoes. Companies such as Bourgeois Boheme, Beyond Skin, and Will’s Vegan Store are offering a variety of vegan shoes made of natural materials such as cotton, hemp, and jute. Additionally, the increasing popularity of veganism and the growing demand for ethical fashion is expected to propel the growth of the vegan footwear segment.
Distribution Channel Insights
The offline distribution channels, such as supermarkets and hypermarkets, department stores, and specialty stores, are expected to account for the largest share of the sustainable footwear products market in 2022. The wide availability of these products in brick-and-mortar stores enables customers to test and experience the products before purchase. Furthermore, the availability of a wide variety of products in supermarkets and hypermarkets allows customers to compare and evaluate different products from different brands.
The online distribution channel is expected to register the highest CAGR during the forecast period. The growing acceptance of online shopping among consumers, along with the increasing availability of sustainable footwear products on various online platforms, is expected to drive the growth of this segment. Companies such as Nike, Adidas, and Hoka One One are focusing on enhancing their presence in the online retail space. Furthermore, discounts and promotional offers on online shopping platforms are expected to further fuel the growth of this segment.
Type Insights
The vegan segment is expected to lead the market, with a revenue share of 63.6% in 2022. The growing concern for animal welfare and the environment is driving the demand for vegan shoes. For instance, in April 2021, Dr. Martens, a brand of AirWair International, launched vegan boots made from apple waste. Such initiatives by leading brands are expected to drive the segment in the forecast period.
The recycled segment is projected to expand at the highest CAGR of 8.4% over the forecast period. The increasing awareness and demand for eco-friendly products is driving the segment in the forecast period. For instance, Adidas, a brand of Adidas AG, launched the first-ever ‘Parley for the Oceans’ sneakers in 2017. This product is made from recycled ocean plastic, which is collected from the coastal areas of Maldives. Such initiatives by leading brands are expected to drive the segment in the forecast period.
Regional Insights
Europe is the largest market for sustainable footwear products, accounting for a revenue share of over 32.9% in 2022. This is attributed to the presence of many prominent players in the region such as Nike, Adidas, and Puma, who are actively launching sustainable products in the market. For instance, in October 2021, Adidas launched its first sustainable shoe, the Adidas Futurecraft.LOOP, in Europe.
Asia Pacific is expected to witness the highest growth in the coming years. Rising environmental awareness among consumers in countries such as China and India is driving the demand for sustainable footwear in the region. Moreover, several companies are investing heavily in the development of eco-friendly materials for the production of sustainable footwear. For instance, in May 2021, Skechers launched its first eco-friendly foam-free sneaker collection, D’Lites Zero, in the Asia Pacific.
Financial Projections
In this part of the sustainable footwear products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your sustainable footwear products. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main sources of revenue for a sustainable footwear products business come from the sales of shoes and accessories. Other possible sources of revenue include donations, grants, and sponsorships.
Projecting Expenses
In this section, all the regular expenses related to keeping the sustainable footwear products business running will be described. The list of operating expenses includes materials, wages, utilities, insurance policies, advertising, marketing, research and development, and others.
Key companies & market share insights
Some of the key companies operating in the sustainable footwear market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In July 2022, Allbirds launched its new line of sustainable shoes made from recycled materials and renewable energy.
– In August 2022, Reebok International Limited launched its Forever Floatride Grow shoes made with plant-based materials and recycled plastic.
– In October 2022, Nike Inc. launched its Move to Zero line of shoes made with recycled materials and renewable energy.
Some of the prominent players in the sustainable footwear market include:
– Allbirds
– Reebok International Limited
– Nike Inc.
– New Balance, Inc.
– Adidas AG
– VF Corporation
– Puma SE
– Timberland LLC
– Dr. Martens
– Skechers USA, Inc.
Global Sustainable Footwear Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global sustainable footwear products market based on product type, material type, distribution channel, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Athletic Shoes
– Work Shoes
– Casual Shoes
– Dress Shoes
– Others
2. Material Type Outlook (Revenue, USD Million, 2017 – 2030)
– Natural
– Synthetic
– Recycled
3. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Online
– Offline
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What Factors Are Driving the Sustainable Footwear Market?
[A]: The rising awareness of environmental issues and the need to reduce our carbon footprint are driving the market for sustainable footwear. Additionally, sustainable materials such as organic cotton, hemp, jute and bamboo are becoming more accessible and cost-effective for the manufacturers and consumers. Moreover, the increasing trend of athleisure and fitness activities has increased the demand for comfortable and durable footwear.
[Q]: Who Are the Key Players in the Sustainable Footwear Market?
[A]: Major players in the sustainable footwear market include Adidas, Nike, Puma, Reebok, New Balance, Timberland, Clarks, Vans, Crocs, and Dr. Martens.
[Q]: What is the Potential of Product Innovation?
[A]: Product innovation is expected to be a key driver of growth for the sustainable footwear market. Companies are focusing on introducing new and unique sustainable materials such as recycled rubber, recycled plastic, and natural rubber. Moreover, the customization of footwear is also gaining traction. Companies are also introducing new technologies such as 3D printing and biodegradable materials to enhance their product offerings.
[Q]: What are the Challenges Faced by the Sustainable Footwear Market?
[A]: The major challenge facing the sustainable footwear market is the high cost of production. Sustainable materials are often more expensive than traditional materials. In addition, the lack of awareness of the benefits of sustainable materials and the lack of appropriate regulations are also hindering market growth.
[Q]: What is the Outlook for the Sustainable Footwear Market?
[A]: The global sustainable footwear market is expected to grow at a CAGR of 8.2% during the forecast period 2021-2027. The increasing demand for sustainable materials and the growing trend of athleisure and fitness activities are expected to drive market growth. Additionally, the increasing trend of customization and the introduction of innovative technologies are also expected to have a positive impact on the market.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
To request a free sample copy of this report, please complete the form below.
We value your investment and offer free customization with every report to fulfil your exact research needs.
