Global Footwear Sole Material Market- Market Overview:

The global footwear sole material market is expected to grow from USD 15,547 million in 2022 to USD 22,969 million by 2030, at a CAGR of 5% during the Projection period 2023-2030. The growth of the footwear sole material market is mainly driven by high-quality of footwear.

The purpose of wearing shoes is to protect and comfort the feet. It is made from a wide range of materials, including rubber, wood, canvas, leather, and jute. To give customers the most comfort possible, footwear quality and styles have significantly changed in response to shifting aesthetics and fashion trends. Both handcrafted and machine-made footwear is frequently used for both athletic and non-athletic purposes. Despite being a necessity, footwear has developed over time into a mark of luxury and sophistication. Increasing consumer demand for high-quality footwear, product innovation, and premiumization are some of the main market-driving drivers. Manufacturers are placing more emphasis on the creation of original designs while also stressing comfort. Over the course of the Projection period, an increase in middle-class families' disposable income is anticipated to fuel the market expansion for footwear sole materials. The developing world's increased industrialization and urbanisation have increased disposable income, which is expected to increase footwear demand over the Projection period. It is anticipated that rising health consciousness would increase consumer participation in sports and fitness-related activities, which will accelerate market growth for footwear sole materials. The shift in customer tastes toward outdoor sports like cycling, running, and hiking is also helping the sole material for footwear to develop.

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Market Dynamics:

Drivers:                          

• Increase Demand

The demand for eco-friendly footwear is anticipated to increase as a result of greenhouse gas emission objectives, environmental concerns, and strict regulations by various governments, particularly in Europe and North America. Adidas just introduced innovative biodegradable shoes. The substance is a biodegradable, incredibly strong variation of spider silk. It is anticipated that the creation of such products will greatly reduce the amount of fossil fuel and petroleum used in manufacturing. Adidas has also created a brand-new production technique called Prime knit. This waste-reduction and environmentally friendly manufacturing technique use computer-controlled knitting. In the same vein, additional investigation is being done to uncover leather substitutes. The market is anticipated to profit from the spectacular increase in research and development of eco-friendly footwear materials.

Restraints:                                             

• Rise of Counterfeit Goods

One of the main things holding back the market for footwear sole materials is the rise of counterfeit goods. For the creation of soles and footwear, small businesses and local manufacturers frequently use low-quality or inexpensive raw materials. The fake goods are imitations of the more well-known brands and are created to profit from the higher pricing of the genuine goods. The slow uptake of cutting-edge technology in developing nations like China and India is a significant barrier to the expansion of the footwear market in APAC. Investments in cutting-edge footwear technologies are constrained by cost sensitivity and technical know-how issues in developing nations.

Opportunities:

• Rise in Physical Activity

As a result, cutting-edge items that are both trendy and comfy have been introduced. The expansion of the market has also been positively impacted by rising athletic and physical activity interest and interest in sports, such as jogging. Although other consumer goods segments have seen the physical shopping experience overtaken by online marketing, customers still prefer to be in-person when purchasing footwear. This has increased the number of organized retail stores and enhanced the relationship between consumers and manufacturers. The market expansion has also been accelerated by manufacturers' aggressive advertising campaigns and customers' increased purchasing power.

Challenges:

• Slow Adoption of Modern Technologies

Over the course of the Projection period, it is anticipated that the market growth will be constrained by the slow adoption rate of modern technologies for the manufacture of footwear soles. The adoption of cutting-edge technology is hampered by a number of main obstacles, including high costs and technical difficulties, which also slow the expansion of the market.

Segmentation Analysis:

The global footwear sole material market has been segmented based on type, end-user, and region.

By Type

The type segment is non-athletic and athletic. The athletic segment led the largest share of the footwear sole material market with a market share of around 65% in 2022. People that engage in outdoor activities including running, walking, working out, and playing sports like basketball, volleyball, cricket, hockey, and golf wear athletic shoes. Athletic shoes offer advantages like torsional stability, superior cushioning, and better protection to users in addition to comfort, flexibility, and traction on outdoor surfaces like roads and trails. The expansion of the athletic category is being driven by professional players' need for comfortable, lightweight, and stylish sports shoes for use on muddy, soft, and uneven terrain. The main reason fueling the global expansion of athletic shoes is the rising participation and propensity of individuals toward everyday physical activities including running, working out in the gym, and cycling.

By End-User

The end-user segment is men, children, and women. The men segment led the largest share of the footwear sole material market with a market share of around 46% in 2022. The demand for men's footwear has been driven by men's propensity for outdoor activities. Golf, cricket, hockey, and trekking have all historically been popular sports among males. Therefore, new launches that target certain sports categories will aid in accelerating the growth of the men's footwear industry. Future expansion in the men's footwear market is anticipated to be fueled by the emergence of high-end e-commerce sites.

Global Footwear Sole Material Market- Sales Analysis.

The sale of the footwear sole material market expanded at a CAGR of 3% from 2016 to 2022.

Rubber, plastic, and petrochemical-derived products are used to make various types of shoe soles, which make up the bottom of the shoes. The materials used in shoe soles offer fashion and comfort while enabling a variety of outdoor activities. The most popular material used to make soles is polyurethane because of its excellent flexibility and durability. Additionally, the sole of the shoe offers a high degree of rigidity and toughness. Various materials, such as leather, polyurethane, and PVC composites, are used to make shoe soles. The materials used to make shoe soles include both natural and synthetic components, such as leather and polymers, among others, that are used in the production of shoe soles.

Materials used in shoe soles provide the wearer with flexibility and extensive protection. Due to the aging population's increasing knee and ankle problems as well as the rising demand for stylish, comfortable, and practical footwear, the market for footwear sole materials is expanding significantly. The global market for footwear sole materials is expanding as a result of rising demand for sports footwear and increased footwear production worldwide. The use of low-quality raw materials by local producers and the emission of dangerous gases from raw materials used in the manufacture of soles, such as rubber, are anticipated to hinder the market growth for footwear sole materials during the Projection period. Increased demand for eco-friendly footwear and the development of cutting-edge technology in the production of shoe soles.

Thus, owing to the aforementioned factors, the global footwear sole material market is expected to grow at a CAGR of 5% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the footwear sole material market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific region dominated the footwear sole material market and held a 36% share of the market revenue in 2022.

• The Asia Pacific region witnessed a major share. The labor-intensive footwear business is influenced by a number of variables, including the availability of land, the cost of labor, the availability of materials, environmental protection, and the sales markets. Global shoe manufacturing bases are constantly shifting as a result of key consumer markets, footwear manufacturers, distributors, and retailers transferring their focus to lower-cost nations in an effort to maximize their profits. In the Asia Pacific, Japan, Taiwan, India, and China are important markets for footwear. The major drivers of increasing product demand in these countries are rising disposable income and rising consumer living standards.
• North America is anticipated to experience significant growth during the Projection period. Additionally, aggressive promotional strategies are being used by product makers through e-commerce and online retail platforms, which is helping the industry expand. The market is expected to be further fueled by additional factors such as rising consumer healthcare costs and significant research and development (R&D) efforts.

Global Footwear Sole Material Market - Country Analysis:

• Germany

Germany's footwear sole material market size was valued at USD 113.1  million in 2022 and is expected to reach USD 138.8 million by 2030, at a CAGR of 2.6% from 2023 to 2030. The key drivers of the predicted growth of the footwear sole material market in the region are an older population with an increase in knee and ankle ailments and a growing need for fashionable, comfortable, and convenient footwear.

• China

China’s footwear sole material market size was valued at USD 218.2 million in 2022 and is expected to reach USD 296.3 million by 2030, at a CAGR of 3.9% from 2023 to 2030. As indicated by the growth in market share of sole footwear firms like Adidas AG, Bata Limited, Nike Inc., Puma SE, and other brands in the footwear sector in China, there are new opportunities in the local footwear sole material market. The key factor driving the country's sole material industrial growth is market liberalization, which would raise demand for shoe soles and boost sales in the footwear manufacturing business.

• India

India's footwear sole material market size was valued at USD 179.0 million in 2022 and is expected to reach USD 230.2 million by 2030, at a CAGR of 3.2% from 2023 to 2030. Due to growing health consciousness, consumers' increased participation in sports and fitness-related activities is driving the market for footwear sole materials in India. According to PMR, India is anticipated to remain one of the most alluring markets during the projected period. Due to the sizeable population of the nation, the demand for footwear sole materials is anticipated to rise throughout the Projection period. Sales of the shoe sole material are therefore anticipated to increase, as are consumer expectations. India is also attracting a number of foreign businesses. Due to these elements, India continues to be one of the biggest markets for suppliers of footwear sole materials, making it profitable for manufacturers.

Key Industry Players Analysis:

To increase their market position in the global footwear sole material market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.   

• Nike Inc.
• Bata Limited
• Adidas AG
• Columbia Sportswear Company
• Puma SE
• Huntsman Corporation
• The Dow Chemical Company
• BASF SE

Latest Development:

• In February 2020, The German sportswear brand Puma debuted a new line of recycled plastic-made clothes and footwear. Puma and First Mile collaborated to develop a line of eco-friendly apparel.
• In September 2021, BASF and Hotter worked together to supply Infinergy, Expanded Thermoplastic Polyurethane for Hotter's casual shoes (E-TPU). The classic shoes have outstanding cushioning thanks to the combination of Hotter's cushion+technology and BASF SE Infinergy. Through this partnership, the business was able to offer formal and casual clothing as a service.

Report Metrics

Report Attribute	Details
Study Period	2022-2030
Base year	2022
CAGR (%)	5%
Market Size	15,547 million in 2022
Projection period	2023-2030
Projection unit	Value (USD)
Segments covered	By Type, By End-User, and By Region.
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	Nike Inc., Bata Limited, Adidas AG, Columbia Sportswear Company, Puma SE, Huntsman Corporation, The Dow Chemical Company, and BASF SE.
By Type	Non-Athletic Athletic
By End-User	Men Children Women
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Footwear Sole Material Market  By Type:

• Non-Athletic
• Athletic

Global Footwear Sole Material Market By End-User:

• Men
• Children
• Women

Global Footwear Sole Material Market By Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia

Political Factors- A transparent governance system is necessary to promote a collaborative workplace culture. Due to corruption and a lack of transparency, the footwear sole material market is currently experiencing a variety of issues. This lack of transparency is primarily due to the current political turbulence and unpredictability. Corruption damages stakeholders' trust in business firms and governmental agencies by promoting fraudulent operations, making business procedures like licencing and contracting more difficult, and weakening law enforcement. Economic growth is generally being slowed by rising bureaucratic corruption, which reduces the potential for markets like the distributed fibre optic sensor market to flourish.

Economic Factors- The performance of the distributed fibre optic sensor market is significantly influenced by the workforce's qualifications and skills. Talented professionals must always be on hand if the footwear sole material market is to stay competitive. The footwear sole material market should look at trends in labour demand and supply to determine how employees with the right skill set could be employed successfully. A constrained labour market with strong worker unions can result in a number of problems for the footwear sole material market. For instance, it might exert pressure on the market for footwear sole material to approve an unfair pay raise or it might halt production by calling for a strike. As a result, it's critical to evaluate the dynamics of the labour market, anticipate significant changes, and alter talent.

Social factors- Every country has unique cultural norms, values, and traditions that shape how people behave in everyday life, including as customers. Lack of adaptability to change product/service offerings in line with local cultural practices could have a negative impact on the business. The market for footwear sole material market requires conducting extensive research to understand regional consumers. Given that distributed fibre optic sensor market is a multinational organisation with a culturally diverse home market, the management may find it challenging to understand the subtle cultural distinctions. To do this, the distributed fibre optic sensor market can build business ties with regional market players that may be able to share extensive expertise about cultural norms and values that influence how consumers perceive and engage with the brand.

Technological Factors- A significant trend in many industries is the development of renewable technology to reduce reliance on natural resources. Distributed fibre optic sensor market should evaluate how well a country's technological infrastructure supports the use of renewable technologies in order to capitalise on this environmental trend. In several regions of the world, governments offer alluring incentives to use renewable energy sources. By seizing the chance and making investments in renewable energy sources, the distributed fibre optic sensor market may be able to realise its objectives for sustainable corporate growth.

Environmental Factors-  The research and development trend in the chosen sector or area demonstrates how forward-thinking organisations are in bringing cutting-edge technologies to market. The market for footwear sole material market needs to better understand how new technology developments can benefit the business in addition to providing benefits to customers. It would be necessary to invest in research and development activities in markets defined by disruptive technology. However, it is essential for the market for the footwear sole material market to have a long-term outlook and avoid expecting a quick return on its R&D investments.

Legal Factors- Employment law refers to a large area of laws that defend workers' rights, including those to a fair wage, equality, equity, inclusion, fairness, and their bodily and emotional safety. In some countries, employment laws are not effectively enforced, while in others, breaching any of the outlined employee rights is punishable by heavy fines. While entering or operating in these countries, the footwear sole material market should ensure the security of the working environment. Both direct and indirect discrimination must be prevented, thus the right processes must be in place. Effective adherence to employment laws can help the distributed fibre optic sensor market improve its employer brand reputation, which is essential for drawing and retaining top talent in the market.

1. Introduction
   • 1. Objectives of the Study
   • 2. Market Definition
   • 3. Research Scope
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
   • 1. Porter’s Five Forces Analysis
   • 2. Value Chain Analysis
   • 3. Top Investment Pockets
     • 3.1. Market Attractiveness Analysis By Type
     • 3.2. Market Attractiveness Analysis By End-User
     • 3.3. Market Attractiveness Analysis By Region
   • 4. Industry Trends
5. Market Dynamics
   • 1. Market Evaluation
   • 2. Drivers
     • 2.1. Increase Demand
   • 3. Restraints
     • 3.1. Rise of Counterfeit Goods
   • 4. Opportunities
     • 4.1. Rise in Physical Activity
   • 5. Challenges
     • 5.1. Slow Adoption of Modern Technologies

6. Global Footwear Sole Material Market Analysis and Projection, By Type
   • 1. Segment Overview
   • 2. Non-Athletic
   • 3. Athletic
7. Global Footwear Sole Material Market Analysis and Projection, By End-User
   • 1. Segment Overview
   • 2. Men
   • 3. Children
   • 4. Women
8. Global Footwear Sole Material Market Analysis and Projection, By Regional Analysis
   • 1. Segment Overview
   • 2. North America
     • 2.1. U.S.
     • 2.2. Canada
     • 2.3. Mexico
   • 3. Europe
     • 3.1. Germany
     • 3.2. France
     • 3.3. U.K.
     • 3.4. Italy
     • 3.5. Spain
   • 4. Asia-Pacific
     • 4.1. Japan
     • 4.2. China
     • 4.3. India
   • 5. South America
     • 5.1. Brazil
   • 6. Middle East and Africa
     • 6.1. UAE
     • 6.2. South Africa

9. Global Footwear Sole Material Market-Competitive Landscape
   • 1. Overview
   • 2. Market Share of Key Players in the Footwear Sole Material Market
     • 2.1. Global Company Market Share
     • 2.2. North America Company Market Share
     • 2.3. Europe Company Market Share
     • 2.4. APAC Company Market Share
   • 3. Competitive Situations and Trends
     • 3.1. Technology Launches and Developments
     • 3.2. Partnerships, Collaborations, and Agreements
     • 3.3. Mergers & Acquisitions
     • 3.4. Expansions

10. Company Profiles
    • Nike Inc.
      • 1.1. Business Overview
      • 1.2. Company Snapshot
      • 1.3. Company Market Share Analysis
      • 1.4. Company Technology Portfolio
      • 1.5. Recent Developments
      • 1.6. SWOT Analysis
    • Bata Limited
      • 2.1. Business Overview
      • 2.2. Company Snapshot
      • 2.3. Company Market Share Analysis
      • 2.4. Company Technology Portfolio
      • 2.5. Recent Developments
      • 2.6. SWOT Analysis
    • Adidas AG
      • 3.1. Business Overview
      • 3.2. Company Snapshot
      • 3.3. Company Market Share Analysis
      • 3.4. Company Technology Portfolio
      • 3.5. Recent Developments
      • 3.6. SWOT Analysis
    • Columbia Sportswear Company
      • 4.1. Business Overview
      • 4.2. Company Snapshot
      • 4.3. Company Market Share Analysis
      • 4.4. Company Technology Portfolio
      • 4.5. Recent Developments
      • 4.6. SWOT Analysis
    • Puma SE
      • 5.1. Business Overview
      • 5.2. Company Snapshot
      • 5.3. Company Market Share Analysis
      • 5.4. Company Technology Portfolio
      • 5.5. Recent Developments
      • 5.6. SWOT Analysis
    • Huntsman Corporation
      • 6.1. Business Overview
      • 6.2. Company Snapshot
      • 6.3. Company Market Share Analysis
      • 6.4. Company Technology Portfolio
      • 6.5. Recent Developments
      • 6.6. SWOT Analysis
    • The Dow Chemical Company
      • 7.1. Business Overview
      • 7.2. Company Snapshot
      • 7.3. Company Market Share Analysis
      • 7.4. Company Technology Portfolio
      • 7.5. Recent Developments
      • 7.6. SWOT Analysis
    • BASF SE
      • 8.1. Business Overview
      • 8.2. Company Snapshot
      • 8.3. Company Market Share Analysis
      • 8.4. Company Technology Portfolio
      • 8.5. Recent Developments
      • 8.6. SWOT Analysis

List of Table

1. Global Footwear Sole Material Market, By Type, 2023–2030 (USD Million)
2. Global Non-Athletic, Footwear Sole Material Market, By Region, 2023–2030 (USD Million)
3. Global Athletic, Footwear Sole Material Market, By Region, 2023–2030 (USD Million)
4. Global Footwear Sole Material Market, By End-User 2023–2030 (USD Million)
5. Global Men, Footwear Sole Material Market, By Region, 2023–2030 (USD Million)
6. Global Children, Footwear Sole Material Market, By Region, 2023–2030 (USD Million)
7. Global Women, Footwear Sole Material Market, By Region, 2023–2030 (USD Million)
8. Global Footwear Sole Material Market, By Region, 2023–2030 (USD Million)
9. North America Footwear Sole Material Market, By Type, 2023–2030 (USD Million)
10. North America Footwear Sole Material Market, By End-User 2023–2030 (USD Million)
11. USA Footwear Sole Material Market, By Type, 2023–2030 (USD Million)
12. USA Footwear Sole Material Market, By End-User 2023–2030 (USD Million)
13. Canada Footwear Sole Material Market, By Type, 2023–2030 (USD Million)
14. Canada Footwear Sole Material Market, By End-User 2023–2030 (USD Million)
15. Mexico Footwear Sole Material Market, By Type, 2023–2030 (USD Million)
16. Mexico Footwear Sole Material Market, By End-User 2023–2030 (USD Million)
17. Europe Footwear Sole Material Market, By Type, 2023–2030 (USD Million)
18. Europe Footwear Sole Material Market, By End-User 2023–2030 (USD Million)
19. Germany Footwear Sole Material Market, By Type, 2023–2030 (USD Million)
20. Germany Footwear Sole Material Market, By End-User 2023–2030 (USD Million)
21. France Footwear Sole Material Market, By Type, 2023–2030 (USD Million)
22. France Footwear Sole Material Market, By End-User 2023–2030 (USD Million)
23. UK Footwear Sole Material Market, By Type, 2023–2030 (USD Million)
24. UK Footwear Sole Material Market, By End-User 2023–2030 (USD Million)
25. Italy Footwear Sole Material Market, By Type, 2023–2030 (USD Million)
26. Italy Footwear Sole Material Market, By End-User 2023–2030 (USD Million)
27. Spain Footwear Sole Material Market, By Type, 2023–2030 (USD Million)
28. Spain Footwear Sole Material Market, By End-User 2023–2030 (USD Million)
29. Asia Pacific Footwear Sole Material Market, By Type, 2023–2030 (USD Million)
30. Asia Pacific Footwear Sole Material Market, By End-User 2023–2030 (USD Million)
31. Japan Footwear Sole Material Market, By Type, 2023–2030 (USD Million)
32. Japan Footwear Sole Material Market, By End-User 2023–2030 (USD Million)
33. China Footwear Sole Material Market, By Type, 2023–2030 (USD Million)
34. China Footwear Sole Material Market, By End-User 2023–2030 (USD Million)
35. India Footwear Sole Material Market, By Type, 2023–2030 (USD Million)
36. India Footwear Sole Material Market, By End-User 2023–2030 (USD Million)
37. South America Footwear Sole Material Market, By Type, 2023–2030 (USD Million)
38. South America Footwear Sole Material Market, By End-User 2023–2030 (USD Million)
39. Brazil Footwear Sole Material Market, By Type, 2023–2030 (USD Million)
40. Brazil Footwear Sole Material Market, By End-User 2023–2030 (USD Million)
41. Middle East and Africa Footwear Sole Material Market, By Type, 2023–2030 (USD Million)
42. Middle East and Africa Footwear Sole Material Market, By End-User 2023–2030 (USD Million)
43. UAE Footwear Sole Material Market, By Type, 2023–2030 (USD Million)
44. UAE Footwear Sole Material Market, By End-User 2023–2030 (USD Million)
45. South Africa Footwear Sole Material Market, By Type, 2023–2030 (USD Million)
46. South Africa Footwear Sole Material Market, By End-User 2023–2030 (USD Million)

List of Figures 

1. Global Footwear Sole Material Market Segmentation
2. Footwear Sole Material Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Footwear Sole Material Market Attractiveness Analysis By Type
9. Global Footwear Sole Material Market Attractiveness Analysis By End-User
10. Global Footwear Sole Material Market Attractiveness Analysis By Region
11. Global Footwear Sole Material Market: Dynamics
12. Global Footwear Sole Material Market Share By Type (2023 & 2030)
13. Global Footwear Sole Material Market Share By End-User (2023 & 2030)
14. Global Footwear Sole Material Market Share by Regions (2023 & 2030)
15. Global Footwear Sole Material Market Share by Company (2021)