Press release
Footwear Market to Watch: Spotlight on Adidas, Nike, PUMA, New Balance
Footwear Market
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The global footwear market, characterized by frequent change and volatility, reflects the trends that will impact the world in the next few years. The search for a variety of styles, and the new trend of fashionable and innovative footwear is increasing its demand across the world. The global footwear market is expected to expand at an overall annual compound growth rate (CAGR) of 3.44% from 2018 to 2023, leading to a global revenue of USD 280.61 billion by 2023.
Based on the various products available, the global footwear market has been classified into athletic and non-athletic footwear. The demand for non-athletic footwear is anticipated to be the largest and the most promising in the coming years. This is due to the availability of customization and personalization for different footwear, along with the rising fashion of innovative and trendy footwear.
Based on the distribution channel, the market is segmented into online channels, supermarkets and hypermarkets, independent retail stores, and others. These segments occupy more than around 65% of the global market share. Shopping online or from supermarkets and independent retail stores holds the majority of the market share, globally.
Also, demand for footwear from various end users including men, women, and kids is also provided in this report. Demand for footwear from women held the most significant market share in 2017 and is anticipated to maintain its dominance during the forecast period.
Moreover, the cross-sectional analysis of all the segments mentioned above across different regions such as North America, Asia-Pacific, Europe, Latin America and the Middle East and Africa has also been considered within the scope of research. Geographically, North America dominated the global footwear market and was followed by the Asia-Pacific, especially China, in 2017.
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Key growth factors
The footwear market is predicted to witness a high growth rate owing to the rising disposable income in developing economies, rapidly growing population, and increasing demand for athletic shoes because of increasing awareness about health and fitness, and attractive promotional strategies by companies that induce increased purchases.
The growing trend of new and stylish footwear across all age groups is one of the primary factors that is expected to augment the demand for footwear at a high rate in the coming years.
Threats
-Despite so many factors driving the market, the rising cost of raw materials is one of the most critical factors that is expected to limit the demand for footwear in the coming years.
-Moreover, the availability of counterfeit products and competition among vendors hinder the expansion of the global footwear market.
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Key Answers Captured in Study are
Which geography would have better demand for product/services?
What strategies of big players help them acquire share in regional market?
Countries that may see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
How feasible is market for long term investment?
What opportunity the country would offer for existing and new players in the Footwear market?
Risk side analysis involved with suppliers in specific geography?
What influencing factors driving the demand of Footwear near future?
What is the impact analysis of various factors in the Global Footwear market growth?
What are the recent trends in the regional market and how successful they are?
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Some extract from Table of Contents
• Overview of Global Footwear Market
• Footwear Size (Sales Volume) Comparison by Type (2019-2025)
• Footwear Size (Consumption) and Market Share Comparison by Application (2019-2025)
• Footwear Size (Value) Comparison by Region (2019-2025)
• Footwear Sales, Revenue and Growth Rate (2019-2025)
• Footwear Competitive Situation and Trends
• Players/Suppliers High Performance Pigments Manufacturing Base Distribution, Sales Area, Product Type
• Analyze competitors, including all important parameters of Footwear
• Global Footwear Manufacturing Cost Analysis
• Marketing Strategy Analysis, Research Conclusions
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