The global footwear market is anticipated to expand at substantial CAGR during the forecast period, between 2021 and 2028. Footwear refers to outfit worn on the feet, which normally serves the purpose of safety against adversities of the environment such as ground textures and temperature. Footwear serves the purpose to ease locomotion and avoid injuries. It can also be worn for fashion and beautification as well as to designate the status or position of the person within a society. Socks and other hosiery are typically worn in addition to the footwear for further comfort and relief. Cultures have diverse customs regarding footwear. This includes not wearing footwear on certain occasions.
The report on global footwear market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Attributes |
Details |
Report Title |
Footwear Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018 & 2019 |
Forecast Period |
2021–2028 |
Segmentation |
Types (Athletic Footwear and Non Athletic Footwear), Materials (Rubber, Leather, Plastic, Fabric, and Others), Distribution Channels (Offline Retail Stores and Online Retail Stores), End-users (Men, Women, and Kids) |
Regional Scope |
Asia Pacific, North America, Europe, Latin America, and Middle East & Africa |
Report Coverage |
Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast |
Key Players Covered |
Nike, Inc., Adidas America, Inc., PUMA, Geox S.p.A., Timberland, Skechers USA, Inc., EccoSko A/S, Crocs Retail, Inc., Under Armour Inc., and Wolverine World Wide, Inc. |
Based on types, the market can be bifurcated into athletic footwear and non athletic footwear. The athletic footwear segment to hold a significant share of the market owing to growing enthusiasm and awareness regarding the health benefits of sports and fitness activities and presence of major global sporting events such as Olympics, Asian Games, Cricket World Cup, IPL and FIFA World Cup. On the other hand, the non-athletic segment is expected to grow at a steady rate owing to rising number of working professionals in emerging economies such as India and China.
On the basis of materials, the footwear market can be divided into rubber, leather, plastic, fabric, and others. The leather segment is anticipated to account for a considerable market during the forecast period. Rising demand for premium products owing to comfortable and luxurious experience. On the other hand, the others segment is anticipated to exhibit a high CAGR during the forecast period.
In terms of distribution channels, the market can be fragmented into offline retail stores, and online retail stores. The online retail stores segment to exhibit a high CAGR during the forecast period. Increasing preference for convenient and hassle-free shopping and presence of variety of products on various e-commerce platforms are key factors driving the growth of the market. However, the retail stores segment is expected to account for a significant market share due to preference for physically buying the footwear in assistance of sales personnel.
In terms of regions, the footwear market can be divided into Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific region held a major market share in 2020, and is anticipated to dominate the market owing to high demand for stylish and comfortable footwear. However, the market in North America is expected to register a high CAGR due to increasing demand for premium sneakers.
Key players in the global footwear market includes Nike, Inc., Adidas America, Inc., PUMA, Geox S.p.A., Timberland, Skechers USA, Inc., EccoSko A/S, Crocs Retail, Inc., Under Armour Inc., and Wolverine World Wide, Inc.These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.
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