Shoe is one of the essential products and is used by every human being nowadays. Its main objective is to protect the feet against environmental adversities, the temperature of the ground and to prevent foot injuries. The shoes are used by people of all ages and genders. The increasing demand for fashionable, fancy and comfortable footwear further increases the market share of the global footwear industry. In addition, growing health concerns, indoor and outdoor activities, increasing fashion-conscious population, and growing retail culture have further led to the growth of the footwear market.
Over the past decades, the global footwear market has witnessed significant growth and is expected to continue at the same rate during the forecast period. However, market players are focused on expanding growth through the use of e-commerce (online platforms), which has gained popularity among young people, thus occupying a significant share among all distribution channels.
Main key players in Shoe market:Nike Inc., Crocs, Timberland Company, Genesco Inc., Wolverine Worldwide Inc., Adidas, Fila, K-swiss, Air Jordans, Converse, Vans, Ecco, Skechers, Rebook and Gucci.
The market research report on Global Footwear Market offers comprehensive analysis across various regions across the world. The report contains detailed country-level analysis, market revenue, market value and forecast analysis for the following countries and regions: geographically, comprehensive analysis of ingestion, revenue and share of Market and growth rate, history and forecast (2021-2027) of these regions are covered:
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia and Italy)
Asia Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, etc.)
Middle East and Africa (Saudi Arabia, Egypt, Nigeria and South Africa)
Footwear market taxonomy
On the basis of type, the footwear market is segmented as follows:
Sports shoes have seen a flourishing growth in the footwear market due to the increased popularity of sports like soccer, cricket, hockey, and tennis, among others. It has provided companies with various opportunities to manufacture new footwear products.
High-end products such as leather footwear from the footwear materials section occupied significant market growth during the forecast period.
Global Footwear Market Outlook
Asia-Pacific is considered the largest market for footwear, due to the highest population, low-cost workforce, and large pool of skilled professionals. China holds the largest footwear market output, followed by India, ASEAN and others, and has further enhanced footwear market growth in the region.
North America is expected to experience significant growth rate and is an important region in terms of revenue generation in the global footwear market. Due to the change in lifestyle, the growing interest in sports shoes, the proliferation of the number of sales channels, and the large increase in internet retailing have contributed to the growth of the footwear market in this market. region.
In July 2019, Nike Inc. announced the opening of a new footwear manufacturing plant in Goodyear, Arizona (United States). The company will invest 184 million US dollars for the construction of the plant. The plant is expected to be completed in early 2020.
In October 2018, DSW Inc. (footwear and accessories retailer) acquired Camuto Group (footwear, clothing and accessories manufacturer). The acquisition will help DSW Inc. strengthen its position in the North American footwear market.
In February 2018, Kizik Design (a luxury shoe brand based in the United States) launched its patented hands-free technology. Using patented technology, the company released hands-free trainers for men. The new technology will help the company expand its product portfolio in the footwear market.