From the period of 2022 to 2028, the Global 3D Printed Footwear Market is expected to reach USD 2318.2 Million in terms of revenue, growing at a Compound Annual Growth Rate (CAGR) of 18.4%.
Increasing focus on technology in the manufacturing sector is expected to boost the adoption of 3D printing in multiple industry verticals. Demand for footwear has seen a substantial rise as disposable income and standards of living have improved across the world and this is expected to boost the adoption of new technologies in footwear manufacturing to ensure better manufacturing. The rising popularity and availability of 3D printing technology in the manufacturing sector are expected to boost the 3D Printed Footwear Market potential over the forecast period. However, lack of in-house expertise and inadequate availability of skilled workforce is also expected to have a hampering effect on the 3D Printed Footwear Market growth in the long term.
Key Highlights from the Report
- On the basis of Soles, the market is segmented into Insoles, Midsoles, and Upper. The insoles segment is anticipated to lead the Global 3D Printed Footwear Market growth and this is expected to be followed through over the forecast period. The increasing use of insoles in multiple footwear products is expected to bolster growth in this segment through 2028.
- On the basis of End use, the market is segmented into Men, Women, and Children. Increasing demand from men and women segments is expected to lead the 3D Printed Footwear Market growth over the forecast period. However, high demand is expected to be seen from the children segment as well owing to increasing new product launches and rising demand.
- Asia Pacific is the fastest regional segment in terms of growth and revenue over the forecast period. The Asia Pacific 3D Printed Footwear Market will be driven by the rapidly increasing popularity of 3D printing technology and the increasing disposable income of the general population which is increasing the demand for footwear and other items. India and China are anticipated to be the most notable markets in this region owing to rising investments in the manufacturing sector and the increasing disposable income of the population.
Increasing advancements in 3D printing technology
Technological advancements have changed the world of 3D printing and it has now become a mainstream application rather than just a laboratory-specific application technology. 3D printing technology has taken huge strides and this has resulted in new launches of 3D printing machines which have further boosted their adoption in multiple manufacturing sectors across the world and this is expected to drive 3D Printed Footwear Market potential as well.
Rising Investments in the Manufacturing sector
Focus on the manufacturing sector has bolstered across the world and investments are being made to advance this sector to create lucrative economic growth opportunities for all nations. This has led to an increase in the adoption of novel technologies such as 3D printing which help in maximizing output and increasing revenue generation potential. Increasing investments have also allowed the integration of new and advanced technologies which will aid the 3D Printed Footwear Market growth as well.
The 3D Printed Footwear Market is projected to hold a dominant market share in the Global 3D Printed Footwear industry landscape and it accounted for a major market share of 38.1% in 2021. Increasing adoption of 3D printing technology in manufacturing and rising availability of 3D printing solutions are expected to be prominent factors driving the 3D Printed Footwear Market potential over the coming years. The 3D Printed Footwear Market in this region held a net worth of US$ 320.6 million in the year 2021 in North America. The Presence of key footwear manufacturers and high spending potential are expected to further boost the 3D Printed Footwear Market potential in this region. The United States will emerge as the leading market in this region throughout the forecast period.