The wide ranging “Footwear Market” report endows with an exhaustive survey of key players in the market which is based on a range of objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization. It also explains what the market definition, classifications, applications, engagements, and global industry trends are. The report puts light on the entire market trends and analyses the effect of buyers, consumers, substitutes, new entrants, competitors, and suppliers on the market. Global Footwear report delivers comprehensive analysis of the market structure along with estimations of the various segments and sub-segments of the market.
Footwear market is supposed to witness growth during the forecast period due to growing demand at the end user level. Geographical areas such as North America, South America, Europe, Asia-Pacific and Middle East & Africa are also considered for the market analysis. The report identifies the most recent improvements, market share, and systems applied by the significant market. The data and information collected to generate this top-notch market analysis document has been derived from the trusted sources such as company websites, white papers, journals, and mergers etc. A steadfast Footwear market analysis report also computes the market size and revenue generated from the sales.
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Data Bridge Market Research analyses that the footwear market in global is expected to reach the value of USD 626,164.40 million by 2030, at a CAGR of 5.8% during the forecast period. “Sandals/flip-flops” accounts for the most used segment in the footwear market due to mostly prefer to wear indoors, on holidays and gym and can be worn with shorts, trousers, chinos, semi-formals, or any outfits you wear except with formals as long as you feel comfortable, is anticipated to boost the segment’s growth.
Growing awareness of the latest fashion trends among the young generation is an important driver for the global footwear market. Increasing spending on footwear from online platforms and rising willingness to pay a premium for high-quality shoes are expected to propel the global footwear market growth.
|Forecast Period||2023 to 2030|
|Historic Year||2021 (Customizable to 2020-2015)|
|Quantitative Units||Revenue in USD Million|
|Segments Covered||By Type (Loafers, Shoes, Sandal/Flip-Flops, Ballerinas, Boots, Wedges, Athletics, Healthcare Shoes and Others), Shoe Material (Plastic, Leather, Rubber, Textile and Others), Soling Material (Plastics, Rubber, Leather and Others), Distribution Channel (E-Commerce, Specialty-Store, Supermarkets-Hypermarkets, Convenience Store and Others), End-User (Women Men and Children)|
|Countries Covered||U.S., Canada, Mexico, Germany, France, Spain, Turkey, U.K., Netherlands, Russia, Switzerland, Belgium, Luxembourg, Italy and Rest of Europe, China, India, Japan, Australia & New Zealand, South Korea, Malaysia, Singapore, Thailand, Indonesia, Philippines and Rest of Asia-Pacific, Brazil, Argentina and Rest of South America, South Africa, Saudi Arabia, U.A.E, Israel, Egypt and Rest Of Middle East and Africa|
|Market Players Covered||Crocs Retail, LLC, Adidas, SKECHERS USA, Inc., Nike, Inc., Okabashi., Bata Corporation, GEOX s.p.a, PUMA, Under Armour®, Inc., Wolverine World Wide, Inc., ASICS Corporation., ALDO GROUP, Relaxo Footwears Limited., KERING, VF Corporation, Deichmann SE, FILA Holdings Corp., New Balance, ECCO Sko A/S, Burberry among others.|
The footwear market industry is concerned with the design, production and distribution and supply of shoes. The raw material may be natural or synthetic, which may be using products of the chemical industry. The footwear industries contribute significantly to the national economy of many countries.
Some of the major players operating in the Footwear market are: Crocs Retail, LLC, Adidas, SKECHERS USA, Inc., Nike, Inc., Okabashi., Bata Corporation, GEOX s.p.a, PUMA, Under Armour®, Inc., Wolverine World Wide, Inc., ASICS Corporation., ALDO GROUP, Relaxo Footwears Limited., KERING, VF Corporation, Deichmann SE, FILA Holdings Corp., New Balance, ECCO Sko A/S, Burberry
- In December 2022, Asics developed a gel-resolution 9: high-tech tennis shoe to support your dynamic footwork along the baseline. GEL-RESOLUTION™ 9 shoes are designed to provide excellent kinetic stability for lateral movements in fast-paced tennis matches
- In September 2022, under armour launched its first running shoe made on a women’s last UA Flow Synchronicity combines revolutionary UA Flow technology and consumer insights to create a shoe designed for HER – her form, her speed, her rhythm, her Journey to Compete
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The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the Footwear market
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Footwear Market
Global Footwear Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail below:
- Rising demand for convenient, comfortable and fancy footwear
Shoes and clothes are a necessity for every human need, and just like clothes protect from weather elements such as strong sunlight, cold and rain same, shoes also provide us protection from all the weather elements. Besides that, it also provides a hygiene barrier and safety to our feet that protects us from stones and rumble while walking. It also keeps infectious and toxic materials away from our feet. When it comes to finding a perfect pair of shoes, comfort and look are the customer’s main objectives of the are looking upon to. People buy a shoe based on their needs and requirement. Various types of shoes are worn for different events and occasions. For instance, sports shoes are worn for physical activities like running and playing matched up with sporty outfits, formal shoes are worn for formal events paired up with casual outfits, and fancy shoes are worn for fancy events. Not to deny the fact that beyond looks, people also look for comfort in them.
- Increasing spending on footwear from online platforms
With the improvement of consumer disposable personal income, it is human nature to improve their life standard and provide themselves with things that are more than necessities—buying quality shoes, both mid-range and high-range, with prices instantly increasing. The shoe industry is more interconnected with the digital world. Digital platforms and digital marketing strategies have become the most prevalent platform for customers to shop for the shoes of their choice. With more companies selling their product online via their own website or cooperating with other E-commerce companies, the focus of customers is more towards the online platform where they can see various products in a single click on their fingers regardless of any location they are stationed.
- Increasing sports events and involvement of people in physical activities
Shoes are the most important equipment for every athlete, irrespective of the events and categories they play. Sports like basketball, football, running, cycling and cricket demand high-quality shoes for athletes for comfort, better performance and, most importantly, to prevent injuries. Sports and high physical activities can put tremendous pressure on the feet, ankles and legs. For instance, Jumping and running can generate three to five times more force compared to the body weight on our legs. Companies like Nike, Adidas, and Puma specifically design shoes for various games and sports with advanced technologies that provide comfort and high performance and prevent athletes from being prone to injuries.
- Impact of fake counterfeit shoes on the branded counterpart
With the improvement in the global economy, even the casual consumer can afford and keep up with fashion trends. Along with the e-commerce boom and tidal wave of celebrity endorsement of the product and increased engagement in physical activities, the footwear industry is seeing massive growth in recent years. For example, Basketball shoes are currently experiencing the fastest growth in the market due to the influence of social media and various sports events. With the genuine footwear market experiencing success, fake counterfeits are also trying various possible ways to imitate the original popular products by copying the design and event tracking to keep up with release dates.
Fluctuation in price and unavailability of raw material
Crude oil prices are rising consistently to cater to the increasing demand from consumers, crude oil being the main source of synthetic rubber and fibers, thus causing footwear raw material prices to increase. This ongoing war has made the scenario worst, distrusting the supply chain of both finished products and raw materials. Crude oil prices are on the rise due to higher crude oil inventory draw, widespread floods and power outages due to heavy rains in oil-producing parts of the globe.
- Recent advancements in innovation with new features and design
With the fast evolution and changing lifestyle day by day, and with rising consumers’ disposable income, consumers are more inclined toward fashionable products. Consumers are improving their living standards on the basis of their disposable income and are consuming more fashionable and trendy products. So these kinds of inclinations of the consumer will create an opportunity for the market players operating in the global leather goods market.
Increasing innovation in footwear with new features and designs is the main factor responsible for providing a host of opportunities for a growing consumer base of footwear products. Consumers are more and more aware of the latest fashion trends due to the increasing adoption of social media, and this is expected to create space for new features and designs in the production of different types of leather goods.
- Collaboration with social influencers and superstars
Advertisement and promotion is the main component in uplifting the sales of any product. Businesses use advertising to accomplish various goals. Companies spend a hefty amount of money in promotion and advertisement to promote their brands and products to reach the most consumer and when it comes to the footwear industry is no exception, footwear companies collaborate with various sports events and athletes from various categories to promote their products.
- Restriction in regulation from environmental and quality control authority
In today’s world, people have started looking for “Green Products” everywhere. In terms of footwear products, the purchasing decision of consumers was previously based upon comfort, style and aesthetic products, but now more on the eco-friendliness of the products. Many footwear companies have started providing footwear made from eco-friendly fabrics, and the demand for these green products is also increasing.
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- The Footwear report covers all the primary mergers & acquisitions, alliances, and collaborations that have generated additional opportunities for market players or in some cases, challenges
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Global Footwear Market Scope
The global footwear market is segmented on the basis of type, shoe material, soling material, distribution channel and end user. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Healthcare shoes
On the basis of type, the global footwear market is segmented into loafers, shoes, sandal/flip-flops, ballerinas, boots, wedges, athletics, healthcare shoes and others.
On the basis of shoe material, the global footwear market has been segmented into plastic, leather, rubber, textile and others.
On the category, the global footwear market has been segmented into plastics, rubber, leather and others.
- Specialty stores
- Convenience stores
On the distribution channel, the global footwear market has been segmented into e-commerce, specialty-store, supermarkets-hypermarkets, convenience store and others.
On the end user, the global footwear market has been segmented into women, men and children.
Regional Analysis/Insights: Footwear Market
The global footwear market is analyzed, and market size insights and trends are provided by region, type, shoe material, soling material, distribution channel and end user as referenced above.
The countries covered in the global footwear market report are U.S., Canada, Mexico, Germany, France, Spain, Turkey, U.K., Netherlands, Russia, Switzerland, Belgium, Luxembourg, Italy and Rest of Europe, China, India, Japan, Australia & New Zealand, South Korea, Malaysia, Singapore, Thailand, Indonesia, Philippines and Rest of Asia-Pacific, Brazil, Argentina and Rest of South America, South Africa, Saudi Arabia, U.A.E, Israel, Egypt and Rest of Middle East and Africa.
Asia-Pacific is anticipated to dominate the global footwear market owing to the driving growth of footwear industries across the country. Sandals/flip-flops are found to be the most commonly footwear in the Asia-Pacific market.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
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Table of Contents:
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Footwear Market: Regulations
- Market Overview
- Global Footwear Market, By Variety
- Global Footwear Market, By Packaging Size
- Global Footwear Market, By Application
- Global Footwear Market, By Distribution Channel
- Global Footwear Market, By Region
- Global Footwear Market: Company Landscape
- SWOT Analyses
- Company Profile
- Related Reports
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Global Protective Footwear Market, By Material (Waterproof, Rubber, Leather, Plastic, and Polyurethane), Type (Shoes, Boots), Applications (Manufacturing, Construction, Mining, Oil &Gas, Chemicals, Food, Pharmaceutical, and Transportation), – Industry Trends and Forecast to 2029
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