Footwear Market Analysis by Size, Share, Growth, Top Companies, Industry Insights, Opportunity and Forecast to 2027
According to IMARC Group’s latest report, titled “Footwear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global footwear market size reached US$ 224.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 288.2 Billion by 2027, exhibiting at a CAGR of 4% during 2022-2027.
Footwear is manufactured using various materials, such as canvas, wood, jute, leather, rubber, plastic, etc., to provide comfort and protection to the feet. The style and quality of the product have evolved over the years with the changing aesthetics and fashion trends. Consumers prefer purchasing footwear with innovative and advanced technical fabrications, which provide maximum comfort while adhering to the ongoing style trend. In addition, the steadily increasing demand for superior-quality products has resulted in several innovations that deliver optimum support to the feet and emphasize the unique designs. As a result, footwear is widely available across supermarkets, online channels, clothing stores, specialty stores, hypermarkets, etc.
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Footwear Market Trends:
The growing popularity of athleisure footwear across the globe, that combines sports shoes with contemporary fineness, is among the primary factors fueling the footwear market. Besides this, the introduction of the latest products with trending styles and designs is further augmenting the market growth. Moreover, the development of smart shoes by the leading companies, such as “HyperAdapt,” which have pressure sensors in the soles and are self-lacing, is also catalyzing the global market. Apart from this, the elevating research and development (R&D) activities by the key manufacturers for the launch of hay-based sneakers and biodegradable, vegan stilettos are acting as significant growth-inducing factors. In addition to this, the escalating demand for superior-quality product innovation and premiumization is also stimulating the market growth. Furthermore, the rising accessibility of shoes across various e-commerce and well-developed retail channels is expected to bolster the footwear market in the coming years.
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Footwear Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the footwear market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Nike Incorporation
- Adidas AG
- PUMA
- Geox S.p.A
- Skechers USA, Incorporation
- Timberland
- Crocs Retail, Inc.
- Ecco Sko A/S
- Wolverine World Wide, Inc.
- Under Armour Inc., etc
Key Market Segmentation:
The report has segmented the global footwear market on the basis of product, material, distribution channel, pricing, end-user and region.
Breakup by Product:
- Non-Athletic Footwear
- Athletic Footwear
Breakup by Material:
- Rubber
- Leather
- Plastic
- Fabric
- Others
Breakup by Distribution Channel:
- Footwear Specialists
- Supermarkets and Hypermarkets
- Departmental Stores
- Clothing Stores
- Online Sales
- Others
Breakup by Pricing:
- Premium
- Mass
Breakup by End-User:
- Men
- Women
- Kids
Breakup by Region:
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
- Middle East and Africa ( Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)
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This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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