The global diabetic footwear market size is expected to reach USD 9.65 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 7.6% during the forecast period. Rising importance of specialty footwear which improves the lower body posture and protect the feet from fungal infection is expected to remain a favorable factor. Furthermore, rising concerns over adverse effects associated with obesity are expected to promote the use of diabetic footwear as a preventive measure.
Shoes are expected to generate revenue of USD 3.31 billion by 2025. The segment is expected to lead the market in light of its increased utility among office-going population. Furthermore, fluctuating diet patterns and hectic lifestyle among middle class population in emerging economies including China and India is expected to encourage consumers to use diabetic shoes as a regular footwear option.
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Further key findings from the report suggest:
- Sandals is expected to witness a CAGR of 7.3% from 2019 to 2025, owing to increased usage of these products as casual footwear by people in the age group of 45+ in developed economies including Germany and U.K.
- Slippers generated revenue of USD 1.99 billion in 2018. The segment is expected to hold more than 30% of global market share on account of predominant usage as daily home footwear among health conscious consumers
- Online segment is expected to remain the most lucrative distribution channel over the next eight years. These channels are expected to remain a preferred choice on account of various value-added benefits including cash benefits and free-home delivery by the footwear companies and e-commerce portals
- Europe is expected to remain one of the largest markets, accounting for more than USD 1.93 billion by 2025. The region is expected to lead on account of increasing health consciousness of consumers from prominent markets such as Germany, U.K., France, and Italy
- The diabetic footwear market is highly competitive in nature with the main players including DJO Global Inc.; Drew Shoes; I-Runner; and Dr. Zen Products, Inc. Various manufacturers are concentrating on new product launches, capacity expansion, and technological innovation to cater to the existing and future demand from new application segments.