Rockville, Nov. 28, 2023 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, in its newly published study, reveals that the global Recovery Footwear Market is pegged at US$ 16.21 billion in 2024. Worldwide sales of therapeutic footwear is forecasted to reach US$ 28.76 billion by 2034-end. Rising prevalence of ankle and foot injuries is predicted to propel the demand for recovery footwear as they help in rapid recovery and offer relief from pain.
More people are becoming aware of the importance of foot health, which is fueling demand for recovery shoes with increased comfort and support. Manufacturers are coming up with several innovative and new designs that ensure better results and are more comfortable to carry. This newly manufactured footwear helps in the quick surgery rehabilitation process that is projected to attract more patients.
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Key Segments of Recovery Footwear Industry Research Report
| By Product Type | By Consumer Orientation | By End Use | By Sales Channel |
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Easy availability of recovery footwear through online sales channels at discounted prices is projected to increase the profit share of players. Further, the availability of a wide variety of options and ease of purchasing through online sales platforms are projected to contribute to market expansion.
Key Takeaway from Market Study
- The global recovery footwear market is forecasted to reach a valuation of US$ 28.76 billion by the end of 2034.
- Worldwide sales of recovery footwear are projected to expand at 5.9% CAGR through 2034.
- North America is predicted to hold 39.2% share of global market revenue by 2034-end.
- Sales of recovery footwear in Canada are pegged at US$ 863.5 million in 2024.
- Worldwide demand for closed-toed shoes is predicted to increase at a CAGR of 6.8% and reach a market value US$ 13.29 billion by the end of 2034.
- Men are estimated to account for 46.8% share of global sales of recovery footwear in 2024.
“Growing awareness about the advantages of using recovery footwear among athletes is contributing to their increased demand. They help in improving blood circulation, preventing injuries, and reducing muscle soreness,” says a Fact.MR analyst.
Ease of Use and Convenience of Online Channels
Online sales channels held 45% share of the global market revenue in 2023. The ease of use and convenience of online sales platforms are contributing to increased sales of recovery footwear. More consumers now prefer to shop online as these platforms allow them to compare prices and purchase desired products from their homes.
Key Market Players
Leading manufacturers of recovery footwear are Adidas AG, Nike, Inc., Under Armour, Inc., ASCIS Corporation, Ossur hf., Skechers USA, Inc., Bauerfeind AG, Aetrex Worldwide, Inc., New Balance Athletics, Inc., Hoka One, Reebok International Ltd., 2XU Pty Ltd., Saloman S.A.S., Brooks Sports, Inc., and Newton Running.
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| Report Attribute | Details |
| Value Projection (2034) | USD 28.76 Billion |
| Growth Rate (2024-2034) | 5.9% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 61 Tables |
| No. of Figures | 147 Figures |
In 2023, online sales channels accounted for 45% of global market revenue in the recovery footwear industry. According to a study by Fact.MR, consumers worldwide are increasingly opting for online retail platforms to purchase recovery footwear due to the convenience and ease of use they offer. The ability to read reviews, compare prices, and make informed decisions attracts many consumers to online shopping.
This approach allows individuals to browse and purchase recovery footwear from the comfort of their homes, eliminating the need for physical store visits—a particularly advantageous feature for those with limited store access or mobility issues. The online platform enables users to compare prices and products from various retailers and brands before making a purchase decision.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the recovery footwear market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (flip-flop/thong sandals, closed-toed shoes, slides/traditional sandals), consumer orientation (men, women, unisex), end use (after foot surgery, after workout, work shift, walking), and sales channel (hypermarkets/supermarkets, multi-brand stores, convenience stores, exclusive stores, online retailers, independent small stores), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
Checkout More Related Studies Published by Fact.MR Research:
Footwear Market: The global footwear market stands at a value of US$ 465.1 billion in 2023 and is forecasted to hit US$ 688.4 billion by 2033, rising at a steady CAGR of 4% from 2023 to 2033 (forecast period).
Kids Footwear Market: The global kid’s footwear market at present is valued at USD 46.74 Billion in 2022. The market is further expected to grow and surpass a valuation of USD 102.79 Billion at end of 2032.
Outdoor Footwear Market: Outdoor footwear market value is projected to reach US$ 82.62 Bn in by 2032-end, with this market accounting for nearly 11%-14% of the global footwear market share. Meanwhile, utilization of outdoor footwear is projected to increase at a CAGR of around 7.1% over the decade.
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