Footwear aid in covering and protecting the foot from ground textures, temperatures, and gravel roads. Footwear are made up of different materials such as leather, plastic, rubber, and fabric. Leather is one of the prominent materials used for the first version of a footwear. Companies such as like Nike are using eco-friendly raw materials such as recycled car tires, recycled carpet padding, organic cotton, and vegetable-dyed leathers for manufacturing footwear products.
Moreover, a rise in number of working professionals has increased the overall demand for formal shoes and casual shoes. In addition, increase in fashion consciousness and changing tastes of women have boosted the demand for nonathletic footwear market. The nonathletic footwear market is dominated by the presence of a wide range of footwear encompassing sandals, heels, and wedges. Rise in demand among children for a wide variety of footwear, including flip-flops, sandals, and boots augments the growth of the global market. In addition, increase in number of working professionals paired along with rise in fashion consciousness and need to look stylish & trendy fuelled the overall growth of the nonathletic footwear market. However, high prices and rise in popularity of footwear brands such as Nike, Adidas, and Puma have led to the advent of counterfeit brands. Counterfeit brands are usually available in developing economies where customers are highly price-sensitive. This factor hampers the sale of the existing original footwear brands in these economies.
Increase in penetration of various online portals in developing regions and rise in number of offers or discounts attract consumers to purchase footwear through online channels. Moreover, online sales channel increased the consumer reach owing to which it has evolved as a key source of revenue for many companies. Furthermore, the online sales market is expected to expand in the near future due to rapid growth in online and mobile user customer bases in emerging markets. Increase in e-commerce sales, improvements in logistics services, ease in payment options, and the facility to enter in new international markets for major brands further augment the growth of the footwear market.
The global footwear market is segmented into type, material, end users, distribution channels, and region. By type, the market is categorized into athletic and nonathletic. Depending on material, it is bifurcated into leather and non-leather. On the basis of distribution channels, it is classified into hypermarket/supermarket, specialty stores, brand outlets, online sales channels and others. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the footwear include Adidas AG (Adidas), Nike, Inc. (Nike), PUMA SE (KERING), Under Armour, Inc., Skechers USA, Inc., Geox S.p.A, VF Corporation, CROCS, Inc., Ecco Sko A/S, and Wolverine World Wide, Inc.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By type
By material
By end users
By distribution channels
By Region
Moreover, a rise in number of working professionals has increased the overall demand for formal shoes and casual shoes. In addition, increase in fashion consciousness and changing tastes of women have boosted the demand for nonathletic footwear market. The nonathletic footwear market is dominated by the presence of a wide range of footwear encompassing sandals, heels, and wedges. Rise in demand among children for a wide variety of footwear, including flip-flops, sandals, and boots augments the growth of the global market. In addition, increase in number of working professionals paired along with rise in fashion consciousness and need to look stylish & trendy fuelled the overall growth of the nonathletic footwear market. However, high prices and rise in popularity of footwear brands such as Nike, Adidas, and Puma have led to the advent of counterfeit brands. Counterfeit brands are usually available in developing economies where customers are highly price-sensitive. This factor hampers the sale of the existing original footwear brands in these economies.
Increase in penetration of various online portals in developing regions and rise in number of offers or discounts attract consumers to purchase footwear through online channels. Moreover, online sales channel increased the consumer reach owing to which it has evolved as a key source of revenue for many companies. Furthermore, the online sales market is expected to expand in the near future due to rapid growth in online and mobile user customer bases in emerging markets. Increase in e-commerce sales, improvements in logistics services, ease in payment options, and the facility to enter in new international markets for major brands further augment the growth of the footwear market.
The global footwear market is segmented into type, material, end users, distribution channels, and region. By type, the market is categorized into athletic and nonathletic. Depending on material, it is bifurcated into leather and non-leather. On the basis of distribution channels, it is classified into hypermarket/supermarket, specialty stores, brand outlets, online sales channels and others. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the footwear include Adidas AG (Adidas), Nike, Inc. (Nike), PUMA SE (KERING), Under Armour, Inc., Skechers USA, Inc., Geox S.p.A, VF Corporation, CROCS, Inc., Ecco Sko A/S, and Wolverine World Wide, Inc.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the footwear market analysis from 2019 to 2027 to identify the prevailing market opportunities.
- The key countries in all the major regions are mapped on the basis of market share.
- The market forecast is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global industry.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global industry trends, key players, market segments, application areas, and market growth strategies.
KEY MARKET SEGMENTS
By type
- Athletic
- Non-athletic
By material
- Leather
- Non-leather
By end users
- Men
- Women
- Children
By distribution channels
- Hypermarkets/Supermarkets
- Specialty Stores
- Brand Outlets
- Online Sales Channel
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia & New Zealand
- ASEAN
- Rest of Asia-pacific
- LAMEA
- Latin America
- Middle East
- Africa
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Footwear Market, by Type
Chapter 5: Footwear Market, by Material
Chapter 6: Footwear Market, by End-user
Chapter 7: Footwear Market, by Distribution Channel
Chapter 8: Footwear Market, by Region
Chapter 9: Competitive Landscape
Chapter 10: Company Profiles
Executive Summary
According to the report titled, 'Footwear Market by Type, Material, End User and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2020 - 2027', the global footwearmarket size was valued at $365.5 billion in 2020, and is projected to reach $530.3 billion by 2027, registering a CAGR of 5.5% from 2020 to 2027. Growing health and fitness awareness among people is boosting the growth of footwear market. Moreover,rise in trend of fitness exercises such as Zumba (a dance form) and Yoga (exercise activity) is generating huge demand for sports shoes among individuals. Rise in number of sport lovers and fan followers of sports such as football, basket balls, and hockey is further creating higher demand for cleats and shoes required for respective sports. In addition, upcoming Summer Olympic Games in 2020 in Tokyo is anticipated to create lucrative opportunities for market players to launch new products and endorse their products to enhance their offerings. Therefore, it will result in driving the growth of market.Along with men and women, children now a days demand for fancy, stylish, colorful, and sports-inspired footwear. Increase in number of children engaged in various sports activities fuels the demand for athletic footwear. This has increased large demand for football, basketball, hockey, tennis, baseball and many other sports footwear among children. Along with sport footwear, stylish sneakers, flip-flops, slip-ons, boots, and casual shoes are witnessing huge demand among children, which drives the growth of the overall market.
With increase in demand for fancy yet comfortable footwear, affordable pricing and enhanced designs of footwear at a cheaper price is expected to boost the overall growth of the industry. Moreover, various sportswear brands such as Nike, New Balance, and Under Armour are adopting 3D printing technology in footwear production. Such features attract the attention of the customers for purchasing the footwear, which is projected to provide lucrative opportunities for market expansion during the forecast period. However, presently ban on cow slaughter and its associated leather products led to shortage of leather as raw material for the footwear industry. Inadequate availability of hide or skin, which are essential raw materials for leather footwear products has resulted in high prices of leather across the world. Furthermore, the demand for leather footwear is high, as it is regarded as a premium product in this industry. However, ban on the use of leather in footwear manufacturing by the Council for Leather Exports, India has ultimately reduced the production of leather footwear in India, which is a major exports hub of developed countries. High price of leather is restricting individuals to buy leather footwear, which are sold at comparatively higher prices, thereby restricting the market growth.
Key Findings of the Study
Dependingon type, the nonathletic segment dominatedthe global footwear market in 2019, and is expected to retain its dominance throughout the forecast period.
By material, the non-leathersegment accounted for highest share in the footwear market growth in 2019, and is projected to grow at a CAGR of 5.0% from 2020 to 2027.
On the basis of end user, the women segment led the global footwear market demand in 2019, and is expected to retain its dominance throughout the forecast period.
As per distribution channel, the specialty stores was the major shareholder in 2019, and is projected to register a CAGR of 4.3% from 2020 to 2027.
Region wise, Asia-Pacific accounted for about 41.4% footwear market share in 2019, and is expected to grow at a CAGR of 6.5%.
The key players operating in the footwearmarket analysis includes Adidas AG (Adidas), Nike, Inc. (Nike), PUMA SE (KERING), Under Armour, Inc., Skechers USA, Inc., Geox S.p.A, VF Corporation, CROCS, Inc., Ecco Sko A/S, and Wolverine World Wide, Inc.
Companies Mentioned
- Adidas AG (Adidas)
- Nike Inc. (Nike)
- PUMA SE (KERING)
- Under Armour Inc.
- Skechers USA Inc.
- Geox S.p.A
- VF Corporation
- CROCS Inc.
- Ecco Sko A/S
- Wolverine World Wide Inc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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