Global Footwear Market: Overview
Footwear market is anticipated to worth USD 207.49 million in 2018, with a CAGR
of 3.7% during 2019-2025. The Global Footwear Market is rising exponentially as footwear has increasingly become a fashion accessory. The market is increasingly fueled by emerging consumer preferences, prevailing fashion styles, and changing brands positioning strategies in several regions. The demand for an assortment of new styles in shoes, particularly for women, has been supporting the lucrativeness of the footwear market. The increasing demand for trendy, yet comfortable footwear among consumer of all age group is driving the footwear market globally. Thus, the global footwear market has witnessed healthy growth and is anticipated to continue at the same pace over the forecast period.
Moreover, the increasing health concerns among consumers, indoor and outdoor activities, increasing fashion conscious population, and rising retail culture has further propelled the growth of the footwear market. The advent of trendy footwear continues to feed prevailing consumer fads to meet emerging sensibilities make the global footwear market increasingly attractive. Furthermore, the growing demands for various types of footwear that can meet therapeutic and specific therapeutic goals, especially in developing and developed countries upsurge the overall footwear market. Furthermore, manufacturers are continuously focused on expanding their product portfolio in order to gain momentum in the global market. Product innovation and differentiation leading to premiumization will also be the major factor driving the footwear market growth during the forecast period.
Global Footwear Market – Product Analysis
Leather Segment is expected to hold significant market share during the past years and is expected to display a similar trend over the forecast period. The leather is more in demand due to its multiple benefits such as breathable, elastic, tear proof, abrasion-resistant, heat insulating, and supple. Moreover, it lends shoe protection with its sturdiness, also has a temperature-regulating effect, as well as lends shoes a sophisticated appearance as well. In additional companies are continuously launching innovative products such as In 2018, luxury brand Hugo Boss launched vegan pineapple leather men’s shoes and raised concerns towards the growing demand for cruelty-free footwear range by introducing vegan shoes for men.
Global Footwear Market – Distribution Channel Analysis
Retail stores dominated the global footwear market owing to the wide availability of different product types and also offering a superior buying experience to the customers as compared to online sales. However, the online channel is expected to witness the fastest growth during the forecast period owing to the consumer inclination towards convenience shopping, discounts and easy return policies offered by various e-commerce websites. Moreover, online portals are extensively used in developed countries for buying consumer durable goods which in turns become a steady revenue generating source for footwear manufacturers over the forecast period. Furthermore, significant growth exhibited by e-commerce platforms in developing countries, including India and China, is compelling manufacturers to innovate their distribution strategies for these countries.
Global Footwear Market – Regional Analysis
Asia Pacific region accounts to hold the largest share of the global footwear market due to the highest population base, low-cost labor, and a large pool of skilled professionals. China is expected to hold the largest production of footwear market followed by India, ASEAN, and others which further enhanced the growth of the footwear market of this region. However, North America is projected to witness a promising growth rate and is an important region in terms of revenue generation of the global footwear market. Owing to the changing lifestyle, increasing sports activities, proliferating in a number of sales channel, and a prominent increase in internet retailing has added to the growth of the footwear market in this region. In addition, growing awareness among the residents of this region to stay healthy, fit, and active is one of the factors behind the dominance of the North America region in the footwear market.
Global Footwear Market: Competitive Landscape
Key players operating in Footwear market includes Adidas AG, Nike Inc., Bata Limited, Puma SE, Asics Corporation, VF Corporation, New Balance Athletics, Inc., Deichmann SE, The Columbia Sportswear Company, Polartec, LLC, Skechers USA, Inc., Wolverine World Wide, Inc. Major Key Players are focused on organic and inorganic strategies such as merger & acquisition and new product launches to enhance their business and product.
Objective of the Study:
To analyze and forecast
market size of the global footwear market, in terms of Value
To examine the careful
market segmentation and forecast the market size, on the basis of region,
segmented into 5 regions, namely, North America, Europe, Asia Pacific, MEA,
& LATAM and major countries in the respective regions
To outline, categorized and
forecast the global footwear market on the basis of product type, material,
end-users, and distribution channel.
To examine competitive
developments like expansions, technological advancement, new product launches,
and regulative framework within the global footwear market.
To identify the drivers and
challenges for global footwear market.
To spot the profile of
leading players and an array of strategy outlook and SWOT analysis of major
Scope of the Report
By End- User
By Distribution Channel
Supermarkets and Hypermarkets
Independent Retail Stores
In addition, the report provides analysis of the footwear market with respect to the following geographic segments:
Asia Pacific (APAC)
Middle East and Africa
Customization Scope for the Client
Client satisfaction is our first and last priority. And that’s why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:
Additional Company Information
With three additional company detail analysis.
Additional country analysis.
Detailed segment analysis.