Press release
Footwear Market Revenues will Grow Nearly 1.5 Times During Forecast Period 2021 and 2031
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Footwear market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of FootwearThe report offers actionable and valuable market insights of Footwear. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Footwear Market across various industries and regions.
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This newly published and insightful report sheds light on Market Insights of Footwear, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Footwear Market.
Market Snapshot
A new forecast by Fact.MR estimates that footwear revenues will grow nearly 1.5x between 2021 and 2031, reaching nearly US$ 640 Bn in 2031 with a 10-year compound annual growth rate (CAGR) of 4%. Demand across North America accounts for nearly 36% share, boosted by the presence of prominent shoe manufacturer brands like Adidas, Under Armour, Skechers, ASICS Corporation in the region.
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Key Segments Covered
Product Type
Casual Footwear
Fashion Footwear
Occupational Footwear
Therapeutic Footwear
Athletic Footwear
Protective Footwear
Other Footwear
Material
Leather Footwear
Natural Rubber Footwear
Synthetic Rubber Footwear
EVA Footwear
PVC Footwear
PU Footwear
Textile Footwear
Price Range
Economy Footwear
Mid Footwear
Premium Footwear
Super-Premium Footwear
Sales Channel
Online Footwear Sales
Footwear Sales via Specialist s
General Merchandise Footwear Sales
Footwear Sales via Departmental Stores
Footwear Sales via Other Sales Channels
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Competitive Landscape:
Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.
NIKE, Inc. entered into a definitive agreement to acquire Converse, Inc. The total price paid for 100 % of the equity shares was approximately US$305 Mn plus the assumption of certain working capital liabilities at the time of the transaction’s consummation.
Likewise, Adidas-Salomon AG and Reebok International Ltd. signed an agreement under which adidas-Salomon AG would acquire all of the outstanding shares of Reebok for U.S. $59.00 per share in cash.
Key Takeaways from the Market Study:
The global footwear market is anticipated to add 1.5x value by 2031 as compared to 2021.
By product type, sales of athletic footwear likely to reach US$ 83 Bn by 2022
Online sales of footwear was valued at US$ 21.4 Bn as of 2020
In 2020, U.S footwear sales reached US$ 91 Bn, expected to rise further in the future
China to emerge as the champion in athletic footwear, accounting for over 10% of the global market
Fashion footwear to account for around 1/4th of the global market revenue
India emerging as an attractive destination for prominent footwear manufacturers
“Increased innovation scale to incorporate multifunctionality in footwear for various purposes in anticipated to generate significant growth potential in the global market in the forthcoming years,” comments a Fact.MR analyst.
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Key Question answered in the survey of Footwear market report:
Sales and Demand of Footwear
Growth of Footwear Market
Market Analysis of Footwear
Market Insights of Footwear
Key Drivers Impacting the Footwear market
Which are the Key drivers impacted by Footwear market
Restraints Shaping Market Growth
Market Survey of Footwear
More Valuable Insights on Footwear Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Footwear, Sales and Demand of Footwear, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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