Global Footwear Market’s Future Lies in Non-athletic Segment, Expected to Reach US$258.2 bn by 2023
Transparency Market Research, a global market intelligence firm, recently announced the publication of a new market research report made available on the company website. The research study, titled “Footwear Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,” provides a detailed analysis of the marketAccording to the research study, in 2014, the global footwear market was worth US$208.7 bn and is estimated to reach a value of US258.2 bn by the end of 2023, exhibiting a 2.50% CAGR between 2015 and 2023. In terms of volume, in 2014, the global footwear market stood at 9.99 bn units and is projected to be 12.11 bn units by the end of 2023, registering a 2.30% CAGR between 2015 and 2023..
Browse the full Footwear Market (By Product Type: Athletic Footwear, Non-Athletic Footwear; By Gender: Men’ Footwear, Women’s Footwear, Kids’ Footwear) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023 report at https://www.transparencymarketresearch.com/footwear-market.html
The global footwear market has gained traction over the last few years owing to the emerging role of the e-commerce industry across the globe. The major players are also taking efforts to introduce new designs and attract more consumers. In addition, the growing population and increasing awareness regarding a healthy life are other factors driving the global footwear market. However, increasing raw material prices are one of the major restraints hampering the growth of the market.
By type, the global footwear market is categorized into athletic footwear and non-athletic footwear. The non-athletic footwear segment is expected to witness rapid growth in the global market throughout the forecast period. In 2014, the non-athletic footwear segment led the market and held a 52% and 64% share in the global footwear market on the basis of revenue and volume, respectively. The major manufacturers in the market are constantly emphasizing on innovative marketing tactics and strategies to increase their product portfolio in both the segments.
By gender, the global footwear market is segmented into women’s footwear, men’s footwear, and kids’ footwear. In 2014, the women’s footwear segment led the overall market, holding a 50% share in terms of revenue and a 46% share in terms of volume in the global footwear market.
By geography, the global footwear market is classified into Europe, North America, Asia Pacific, and Rest of the World. In 2014, North America led the overall market, holding a 35% share in the global footwear market, owing to the influx of innovative and new designs. In addition, change of product policies on the basis of current trends, including the preference for sports-inspired footwear and performance footwear, and innovative retail strategies and increasing efforts aimed at global expansion are some of the major factors augmenting the growth of the footwear market in North America. On the other hand, Asia Pacific is expected to register rapid growth in the global footwear market, thanks to several factors such as growing urbanization, increasing retail activity, and potential advancement of the economy.
Furthermore, the research study covers the vendor analysis and competitive landscape of the global footwear market. Some of the major players operating in the global footwear market are Skechers Inc., Sympatex Technologies GmbH, New Balance Inc., VF Corp., Puma SE, Nike Inc., Polartec, Bata Limited, The Aldo Group Inc., Adidas AG, Deichmann SE, Kathmandu Holdings Limited, Jack Wolfskin, Columbia Sportswear Company, and Asics Corp.
Among these players, Nike is the dominating player in the overall market, followed by Adidas and Asics. In addition, Nike and Adidas account for the highest number of retail outlets across the globe.
Key Segments of the Global Footwear Market:
- Athletic footwear
- Running and cross training/tennis shoe,
- Soccer/football shoe
- American football/rugby shoe
- Soccer shoe
- Golf shoe
- Basketball shoe
- Hiking shoe
- Baseball shoe
- Running and cross training/tennis shoe,
- Non-athletic footwear
- Casual footwear
- Dress evening footwear
- Military boots
- Hunting/fishing boots
- Rain boots/galoshes
- Winter/snow boots
- Rocky military boots
- Lite hiking outdoor sandal
Global Footwear market: by gender
- Men’s footwear
- Women’s footwear
- Kids’ footwear
Global Footwear market: by geography
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Rest of the World (RoW)
- South America
- Middle East
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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