Global Footwear Market Bwc19155
Global Footwear Market- Industry Size, Share, Trend Analysis, Outlook, Growth, Opportunity and Forecast, 2015-2025, Segmented By Type (Athletic And Non-Athletic), By Material (Rubber, Leather, And Plastic), By End-User (Male, Female), By Distribution Channel (Online Stores, Supermarkets And Hypermarkets, Independent Retail Stores And Others), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
- Published Date: November 2021
- Report ID: BWC19155
- Available Format: PDF
- Page: 195
Report Overview
The growth of the global footwear market is attributed to the transformation of footwear from a necessity to a fashion accessory and availability of a wide range of footwear with various designs, occasions and comfort.
Global Footwear Market- Industry Trends & Forecast Report 2027
The global footwear market was worth USD 364.1 billion in 2020 and is further projected to reach USD 523.1 billion by 2027 growing at a CAGR of 5.4% in the forecast period. The transformation of footwear from a necessity to a fashion accessory and availability of a wide range of footwear with various designs, occasions, and comfort is propelling the growth of the global footwear market. Furthermore, the increasing health concerns among consumers, indoor and outdoor activities, increasing fashion-conscious population, and rising retail culture are anticipated to drive the market in the forecast period.
Source: BlueWeave Consulting
Global Footwear Market- Overview
Footwear is a part of the clothing & apparel industry and includes shoes, stilettos, sneakers, luxury footwear, and sporting shoes. When worn in an open environment, footwears protect the feet from injuries and provide support and stability. Footwear also has a direct influence on a person's personality. As footwear has evolved into a fashionable item, they have transcended their basic nature. Shoes, flats, heels, and slippers are generally worn according to the occasion and location to compliment an attire.
Global Footwear Market Forecast and Trends
Growth Drivers
Launch of a Wide Range of Footwear Designs
Fashion footwear has become an essential accessory that can make or break an outfit. New footwear products are constantly being launched with various designs, styles, and types due to the constantly changing fashion trends. One of the major factors driving the global footwear market is the availability of footwear designs to match any occasion or outfit. As an example, Forsake, a leading sneakerboot brand, recently unveiled a new style of sneakerboot for the autumn/winter collection. Such launches favorably contribute to the growth of the market.
Extensive Research and Development Activities
Leading brands invest significantly in research and development activities to push for their ideas about environmental sustainability and the use of alternative eco-friendly raw materials. For instance, KEEN Inc. recently launched its manufacturing method that uses agricultural waste to create plant-based soles without chemical solvents. Furthermore, The Parting Line Design announced a patented one-step molding solution that allows for the creation of hook fields directly into plastic parts, thereby reducing material and labor costs. This presents the global footwear market with new growth opportunities.
Restraints
High Prevalence of Fake and Replica Products
There are many deep fakes of renowned brands, especially in developing countries such as India and China. Among all consumer commodities, shoes are the most counterfeited. Furthermore, even if unlawful products are discovered, it is difficult to track down the illegal manufacturing, distribution, and sales because of the false documentation. The market for counterfeit footwear is enormous since they are comparatively cheaper. This results in losses for footwear brands and negatively affects market growth.
Impact of COVID-19 on the Global Footwear Market
A sudden outbreak of COVID-19 significantly slowed the global footwear market. To curb the spread of the virus, different countries had to impose lockdowns and travel restrictions on movement and operations, which adversely affected the demand and supply of footwear. Because people were confined to their living spaces during the lockdown, they were unable to wear shoes. Outdoor activities such as strolling, going to the gym, and participating in sports were temporarily prohibited. Additionally, retail outlets were closed, and non-essential commodities could not be purchased online. The global footwear market suffered significant losses as a result of this.
Global Footwear Market - By Type
Based on types, the global footwear market is segmented into athletic, and non-athletic. The non-athletic segment accounts for the largest share of the market due to the huge demand for regular wear and daily use, such as at work or other events. Casual footwear such as slippers, flip-flops, and casual shoes provide comfort and are easy to wear. However, the demand for athletic footwear is projected to increase in the forecast period due to increased sports activities and growing awareness regarding physical fitness, especially in developed regions.
Global Footwear Market - By Material
Based on materials, the global footwear market is segmented into leather, rubber, and plastic. Leather holds a significant market share due to its many benefits, including its elasticity, tearproof, abrasion resistance, heat insulation, and durability. In addition to its sturdiness and temperature-regulating functions, leather lends shoes a sophisticated appearance. Moreover, companies are constantly launching innovative products to attract customers. For instance, Hugo Boss introduced vegan pineapple leather shoes for men in 2019 in response to a growing demand for cruelty-free footwear.
Global Footwear Market - Regional Insights
Geographically, the global footwear market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa. The Asia-Pacific region dominates the global footwear market due to its high population base and a large pool of skilled laborers. With regard to the footwear market, China is expected to hold the largest production share, followed by India. North America, however, is projected to witness a substantial growth rate due to the changing lifestyle and the high number of sports and recreational activities compared to the East.
Source: BlueWeave Consulting
Competitive Landscape
The leading players in the global footwear market are Nike Inc. Adidas, SKECHERS USA, Inc., Reebok, Gucci, Crocs Retail, Inc., Timberland Company, Genesco Inc., Wolverine Worldwide Inc., K-swiss, Air Jordans, ECCO Sko A/S, PUMA, GEOX S.p.A, Under Armour, INC., New Balance Inc., Asics Corporation, Bata Ltd, Fila, and other prominent players.
Adidas, Nike, Fila, and other leading footwear brands are dominant in the market. Despite this, there are still many opportunities for new players to enter the market with new products and designs that will appeal to consumers. The most prominent market players invest heavily in research and development activities as well as new product launches to gain a competitive edge. The market is also characterized by the adoption of competitive strategies, such as partnerships, mergers, acquisitions, collaborations, etc.
Recent Developments
- In November 2021, Mitchell & Ness, a US-based athletic wear company, announced the relaunch of the Hood Rubber Company, a heritage footwear brand that left the market more than 40 years ago.
- In November 2021, JD Sports, a UK-based sportswear giant, announced its plan to expand its business in the US by opening its first store in Toronto.
Scope of the Report
Attributes |
Details |
Years Considered |
Historical data – 2017-2020 Base Year – 2020 Forecast – 2021 – 2027 |
Facts Covered |
Revenue in USD Billion |
Market Coverage |
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia |
Product Service/Segmentation |
By Type, By Material, By Distribution Channel, By End-User, By Region |
Key Players |
Nike Inc. Adidas, SKECHERS USA, Inc., Reebok, Gucci, Crocs Retail, Inc., Timberland Company, Genesco Inc., Wolverine Worldwide Inc., K-swiss, Air Jordans, ECCO Sko A/S, PUMA, GEOX S.p.A, Under Armour, INC., New Balance Inc., Asics Corporation, Bata Ltd, Fila, and other prominent players. |
By Type
- Athletic
- Non-Athletic
By Material
- Leather
- Rubber
- Plastic
By Distribution Channel
- Independent Retail Stores
- Supermarkets/Hypermarkets
- Online Stores
By End-User
- Male
- Female
- Others
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
- Research Framework
- Research Objective
- Product Overview
- Key Market Segments
- Research Methodology
- Qualitative Research
- Methodology
- Regional Split of Primary & Secondary Research
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Breakdown of Primary Research Respondents, By Industry Participants
- Market Size Estimation
- Assumptions for the Study
- Market Breakdown & Data Triangulation
- Executive Summary
- Industry Insight and Growth Strategy
- Value Chain Analysis
- DROC Analysis
- Market Drivers
- Launch of Wide Range of Footwear Design
- Extensive Research and Development Activities
- Market Restraints
- High Presence of Fake And Duplicate Products Of Known Brands
- Market Challenges
- Negative Influence of the COVID-19 Pandemic
- Market Opportunity
- Growing Sustainability In Footwear Industry
- Expanding Penetration Of Online Sales Channels
- Market Drivers
- Recent Developments
- Porter’s Five Forces Analysis
- Bargaining Power of Buyers
- Bargaining Power of Suppliers
- Intensity of Rivalry
- Threat of New Entrants
- Threat of Substitutes
- Global Footwear Market Overview
- Market Size & Forecast by Value, 2017-2027
- Market Size and Forecast, By Segment
- By Type
- Athletic
- Non-Athletic
- By Material
- Leather
- Rubber
- Plastic
- By Distribution Channel
- Independent Retail Stores
- Supermarkets/Hypermarkets
- Online Stores
- By End-User
- Male
- Female
- Others
- By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
- By Type
- North America Footwear Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Type
- By Material
- By Distribution Channel
- By End-User
- By Country
- U.S.
- Canada
- Market Size and Forecast
- Europe Footwear Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Type
- By Material
- By Distribution Channel
- By End-User
- By Country
- Germany
- U.K.
- Russia
- France
- Italy
- Spain
- Rest of Europe
- Market Size and Forecast
- APAC Footwear Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Type
- By Material
- By Distribution Channel
- By End-User
- By Country
- China
- India
- Japan
- South Korea
- Rest of APAC
- Market Size and Forecast
- LATAM Footwear Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Type
- By Material
- By Distribution Channel
- By End-User
- By Country
- Mexico
- Brazil
- Rest of LATAM
- Market Size and Forecast
- MEA Footwear Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Type
- By Material
- By Distribution Channel
- By End-User
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- Market Size and Forecast
- Competitive Landscape
- List of Key Players and Their Offerings
- Market Share Analysis (2020)
- Competitive Benchmarking by Operating Parameters
- Impact of COVID-19 on Global Footwear Market
- Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
- Nike Inc.
- Adidas
- SKECHERS USA, Inc.
- Reebok
- Gucci
- Crocs Retail, Inc.
- Timberland Company
- Genesco Inc.
- Wolverine Worldwide Inc.
- K-swiss
- Air Jordans
- ECCO Sko A/S
- PUMA
- GEOX S.p.A
- Under Armour, INC.
- New Balance Inc.
- Asics Corporation
- Bata Ltd
- Fila
- Other Prominent Players
- Key Strategic Recommendations
List of Figures
Figure 1: Global Footwear Market Segmentation
Figure 2: Global Footwear Market Value Chain Analysis,
Figure 3: Company Market Share Analysis, 2020
Figure 4: Global Footwear Market Size, By Value (USD Billion), 2017-2027
Figure 5: Global Footwear Market Share (%), By Type, By Value, 2017-2027
Figure 6: Global Footwear Market Share (%), By Material, By Value, 2017-2027
Figure 7: Global Footwear Market Share (%), By Distribution Channel, By Value, 2017-2027
Figure 8: Global Footwear Market Share (%), By End-User, By Value, 2017-2027
Figure 9: Global Footwear Market Share (%), By Region, By Value, 2017-2027
Figure 10: North America Footwear Market Size, By Value (USD Billion), 2017-2027
Figure 11: North America Footwear Market Share (%), By Type, By Value, 2017-2027
Figure 12: North America Footwear Market Share (%), By Material, By Value, 2017-2027
Figure 13: North America Footwear Market Share (%), By Distribution Channel, By Value, 2017-2027
Figure 14: North America Footwear Market Share (%), By End-User, By Value, 2017-2027
Figure 15: North America Footwear Market Share (%), By Country, By Value, 2017-2027
Figure 16: Europe Footwear Market Size, By Value (USD Billion), 2017-2027
Figure 17: Europe Footwear Market Share (%), By Type, By Value, 2017-2027
Figure 18: Europe Footwear Market Share (%), By Material, By Value, 2017-2027
Figure 19: Europe Footwear Market Share (%), By Distribution Channel, By Value, 2017-2027
Figure 20: Europe Footwear Market Share (%), by End-User, By Value, 2017-2027
Figure 21: Europe Footwear Market Share (%), By Country, By Value, 2017-2027
Figure 22: Asia-Pacific Footwear Market Size, By Value (USD Billion), 2017-2027
Figure 23: Asia-Pacific Footwear Market Share (%), By Type, By Value, 2017-2027
Figure 24: Asia-Pacific Footwear Market Share (%), By Material, By Value, 2017-2027
Figure 25: Asia-Pacific Footwear Market Share (%), By Distribution Channel, By Value, 2017-2027
Figure 26: Asia-Pacific Footwear Market Share (%), By End-User, By Value, 2017-2027
Figure 27: Asia-Pacific Footwear Market Share (%), By Country, By Value, 2017-2027
Figure 28: Latin America Footwear Market Size, By Value (USD Billion), 2017-2027
Figure 29: Latin America Footwear Market Share (%), By Type, By Value, 2017-2027
Figure 30: Latin America Footwear Market Share (%), By Material, By Value, 2017-2027
Figure 31: Latin America Footwear Market Share (%), By Distribution Channel, By Value, 2017-2027
Figure 32: Latin America Footwear Market Share (%), By End-User, By Value, 2017-2027
Figure 33: Latin America Footwear Market Share (%), By Country, By Value, 2017-2027
Figure 34: Middle East & Africa Footwear Market Size, By Value (USD Billion), 2017-2027
Figure 35: Middle East & Africa Footwear Market Share (%), By Type, By Value, 2017-2027
Figure 36: Middle East & Africa Footwear Market Share (%), By Material, By Value, 2017-2027
Figure 37: Middle East & Africa Footwear Market Share (%), By Distribution Channel, By Value, 2017-2027
Figure 38: Middle East & Africa Footwear Market Share (%), By End-User, By Value, 2017-2027
Figure 39: Middle East & Africa Footwear Market Share (%), By Region, By Value, 2017-2027
List of Tables
Table 1: Global Footwear Market Size, By Type, By Value, 2017-2027
Table 2: Global Footwear Market Size, By Material, By Value (USD Billion), 2017-2027
Table 3: Global Footwear Market Size, By Distribution Channel, By Value (USD Billion), 2017-2027
Table 4: Global Footwear Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 5: Global Footwear Market Size, By Region, By Value (USD Billion), 2017-2027
Table 6: North America Footwear Market Size, By Type, By Value (USD Billion), 2017-2027
Table 7: North America Footwear Market Size, By Material, By Value (USD Billion), 2017-2027
Table 8: North America Footwear Market Size, By Distribution Channel, By Value (USD Billion), 2017-2027
Table 9: North America Footwear Market Size, By End-User, By Value (USD Billion), 2017-2027,
Table 10: Europe Footwear Market Size, By Type, By Value (USD Billion), 2017-2027
Table 11: Europe Footwear Market Size, By Material, By Value (USD Billion), 2017-2027
Table 12: Europe Footwear Market Size, By Distribution Channel, By Value (USD Billion), 2017-2027
Table 13: Europe Footwear Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 14: the Asia-Pacific Footwear Market Size, By Type, By Value (USD Billion), 2017-2027
Table 15: the Asia-Pacific Footwear Market Size, By Material, By Value (USD Billion), 2017-2027
Table 16: the Asia-Pacific Footwear Market Size, By Distribution Channel, By Value (USD Billion), 2017-2027
Table 17: the Asia-Pacific Footwear Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 18: Latin America Footwear Market Size, By Type, By Value (USD Billion), 2017-2027
Table 19: Latin America Footwear Market Size, By Material, By Value (USD Billion), 2017-2027
Table 20: Latin America Footwear Market Size, By Distribution Channel, By Value (USD Billion), 2017-2027
Table 21: Latin America Footwear Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 22: The Middle-East & Africa Footwear Market Size, By Type, By Value (USD Billion), 2017-2027
Table 23: The Middle-East & Africa Footwear Market Size, By Material, By Value (USD Billion), 2017-2027
Table 24: The Middle-East & Africa Footwear Market Size, By Distribution Channel, By Value (USD Billion), 2017-2027
Table 25: The Middle-East & Africa Footwear Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 26: Nike Inc. Financial Analysis
Table 27: Nike Inc. Business Overview
Table 28: Adidas Financial Analysis
Table 29: Adidas Business Overview
Table 30: SKECHERS USA, Inc. Corporation Financial Analysis
Table 31: SKECHERS USA, Inc. Corporation Business Overview
Table 32: Reebok Financial Analysis
Table 33: Reebok Business Overview
Table 34: Gucci Financial Analysis
Table 35: Gucci Business Overview
Table 36: Crocs Retail, Inc. Financial Analysis
Table 37: Crocs Retail, Inc. Business Overview
Table 38: Timberland Company Financial Analysis
Table 39: Timberland Company Business Overview
Table 40: Genesco Inc. Financial Analysis
Table 41: Genesco Inc. Business Overview
Table 42: Wolverine Worldwide Inc. Financial Analysis
Table 43: Wolverine Worldwide Inc. Business Overview
Table 44: K-swiss Financial Analysis
Table 45: K-swiss Business Overview
Table 46: Air Jordans Financial Analysis
Table 47: Air Jordans Financial Analysis
Table 48: ECCO Sko A/S Financial Analysis
Table 49: ECCO Sko A/S Business Overview
Table 50: PUMA Financial Analysis
Table 51: PUMA Business Overview
Table 52: GEOX S.p.A Financial Analysis
Table 53: GEOX S.p.A Business Overview
Table 54: Under Armour, INC. Financial Analysis
Table 55: Under Armour, INC. Business Overview
Table 56: New Balance Inc. Financial Analysis
Table 57: New Balance Inc. Business Overview
Table 58: Asics Corporation Financial Analysis
Table 59: Asics Corporation Business Overview
Table 60: Bata Ltd Financial Analysis
Table 61: Bata Ltd Business Overview
Table 62: Fila Financial Analysis
Table 63: Fila Business Overview
Market Segmentation
By Type
- Athletic
- Non-Athletic
By Material
- Leather
- Rubber
- Plastic
By Distribution Channel
- Independent Retail Stores
- Supermarkets/Hypermarkets
- Online Stores
By End-User
- Male
- Female
- Others
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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