The Europe footwear market is dominated by companies such as Adidas AG, Esprit Holdings Limited, and Nike Inc., which have extensive operations across virtually all major countries in Europe. However, regional players specializing in the footwear market in particular countries or regions within Europe also play an important role in the Europe footwear market, as the degree of consolidation of the Europe footwear market is quite low.
According to Transparency Market Research, the volume of the Europe footwear market is likely to exhibit a 1.20% CAGR between 2015 and 2021. The market comprised 2099.4 mn units in 2015 and is likely to rise to 2281.9 mn by 2021.
U.K. to Remain Leading Consumer of Footwear in Europe
Geographically, the U.K. was the dominant market for footwear in Europe in 2014, with the volume of the market registered at 322.2 mn. Despite exhibiting a CAGR lower than that of the overall Europe market, the U.K. market is likely to remain the leading consumer of footwear by 2021, with the total volume of the market expected to rise to 344.9 mn.
By gender, men’s footwear is likely to remain the leading contributor to the Europe footwear market in the coming years. The segment had an overall valuation of US$15.7 bn in 2014, which is expected to rise to US$17.9 bn by 2021. “The rising interest shown by men in footwear fashion is one of the key trends expected to drive the demand for men’s footwear, along with the ease of purchasing footwear in Europe through supermarkets and other similar channels of distribution,” said a lead TMR analyst.
The women’s footwear segment of the Europe market is expected to have a higher volume but lower market valuation than men’s footwear by the end of 2021. This denotes the likely entry of an increasing volume of cheap footwear in the women’s market in the coming years. Kids footwear is also likely to hold on to a stable share in the Europe footwear market in the forecast period, with the landscape of the kids footwear market unlikely to change drastically in the near future.
Of the two key types of footwear in the Europe market, nonathletic footwear is likely to lead the market in the coming years. While the rising interest in sports as a recreational and fitness activity will ensure consistent demand for athletic footwear, the increasing variety of nonathletic footwear available in the Europe market is likely to lead to steady demand from a corresponding variety of demographics.
Rise of Eco-Fashion Presents Promising Opportunities for Footwear Manufacturers in Europe
One of the prominent opportunities in the Europe footwear market is the rising demand for eco-fashion. The growing awareness about the use of animal products, sometimes illegally, in footwear has led to a strong public outcry in Europe, where animal protection and environmental conservation movements have generally found widespread support. As a result, footwear made from sustainably sourced materials has caught on in Europe in recent years and is likely to become an important part of the overall Europe footwear market in the coming years.
The rapid expansion of the online retail sector in Europe, thanks to the advanced telecommunications networks present in especially Western Europe, has given an immense boost to the Europe footwear market. The convenience of shopping online and the increasing ease of returning and exchanging products bought online have been crucial in bringing ecommerce into the mainstream in Europe, with online sales of footwear likely to rise at a strong rate in the coming years.
The information in this preview comes from a Transparency Market Research report titled ‘Footwear Market - Europe Industry Analysis Size Share Growth Trend Forecast 2015 - 2021.’
The Europe footwear market is segmented as follows:
Footwear Market: By Type
Footwear Market: By country
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