The GMI Research expects the footwear market to expand at a significant rate. From a regional perspective, the Asia-Pacific is expected to lead the market due to the strong demand for comfortable and long-lasting footwear. The increasing urbanization and growing disposable income in emerging economies, such as India and China, will drive the market growth.
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Footwear Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The strong demand for trendy footwear, growing disposable income, high demand for comfortable and convenient footwear, and rising working women population worldwide are the major factors surging the growth of the global footwear market size. As per footwear industry analysis, the increasing acceptance of premium shoes integrating leather footwear will further fuel the growth of the footwear market share in terms of revenue. The growing demand for sports shoes due to the significantly changing preference towards sports activities will boost the market growth. According to the footwear industry competitive analysis, the growing consciousness associated with the physical appearance among people is another factor that will positively influence market growth. Growing an e-commerce platform to deliver broaden the range of the product offerings will further contribute to the growth of the market over the forecast period. On the other hand, the factor that is hampering the growth of the market includes the high availability of counterfeit products.
Type Segment Drivers
Based on Type, the Athletic segment is expected to grow at a higher CAGR over the forecast period due to the increasing popularity of the sports activity and international game events, including Commonwealth Games, Olympics, FIFA, etc. In addition to this, the leading players are participating in celebrity endorsement and various other promotional campaigns that will further support the growth of the segment.
End-User Segment Drivers
Based on End-User, the Women segment is anticipated to increase at a higher CAGR during the forecast period. According to the footwear industry statistics, the growing working population and increasing stylish trends globally. Moreover, the rising disposable income and growing spending on luxury goods will further stimulate the growth of the End-User segment.
Footwear Market’s leading Manufacturers:
- Nike, Inc.
- PUMA
- Adidas America, Inc.
- Geox S.p.A
- Timberland
- Skechers USA Incorporation
- Ecco Sko A/S
- Crocs Retail, Inc.
- Under Armour Inc.
- Wolverine World Wide, Inc.
Footwear Market Segmentation:
Segmentation by Type:
- Athletic
- Non-Athletic
Segmentation by End-User:
- Men
- Women
- Children
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
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