Footwear Market Size, Trends, Business Opportunity and Future Demand by 2028 | IMARC Group

IMARC Group, a leading market research company, has recently releases report titled "𝐅𝐨𝐨𝐭𝐰𝐞𝐚𝐫 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐆𝐥𝐨𝐛𝐚𝐥 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬, 𝐒𝐡𝐚𝐫𝐞, 𝐒𝐢𝐳𝐞, 𝐆𝐫𝐨𝐰𝐭𝐡, 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝟐𝟎𝟐𝟑-𝟐𝟎𝟐𝟖", The study provides a detailed analysis of the industry, including the global footwear market size, share, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the footwear market?

The global footwear market size reached US$ 234.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 314.2 Billion by 2028, exhibiting a growth rate (CAGR) of 3.9% during 2023-2028.

What is Footwear?

Footwear refers to garments worn on the feet, serving several purposes including protection, comfort, fashion, and sports performance. While the primary function is to shield our feet from the environment - guarding against hazards like heat, cold, sharp objects, and microbes - they also provide a cushioning effect to reduce the impact on our feet when walking or running. Historically, the construction and style of footwear have varied greatly across cultures and periods. Early forms were essentially practical, but over time, footwear has evolved into a significant aspect of fashion and personal style. Today, footwear ranges from utilitarian, like rubber rain boots, to fashionable, like high-heeled shoes, and functional, like running shoes. In terms of materials, traditional footwear was often made from leather, wood, or canvas. Modern footwear employs a wide array of materials, including synthetic fabrics, rubber, and plastics, enabling enhanced functionality and comfort. For instance, athletic shoes often incorporate materials designed to optimize performance, providing support, flexibility, and cushioning where needed. Footwear also plays an essential role in various sports and activities, with specialized designs to meet specific requirements. Soccer shoes, for instance, are designed with cleats for better traction, while ballet shoes are constructed to enhance flexibility and movement. In the fashion domain, footwear is a critical component of a person's ensemble, with designs ranging from simple and casual to intricate and luxurious.

𝐆𝐞𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/footwear-market/requestsample

What are the growth prospects and trends in the footwear industry?

The rising consumer awareness about health and fitness is driving the demand for athletic and sports footwear which represents one of the key factors influencing the growth of the footwear market across the globe. More people are engaging in physical activities, such as running, jogging, and gym workouts, which is fueling the need for specialized footwear that provides the necessary comfort, durability, and performance. Moreover, the trend of wearing sports shoes for casual wear or 'athleisure' is acting as a major growth-inducing factor. The rising fashion trends are contributing to the growth of the market. Seasonal trends, celebrity styles, and social media influences often dictate consumer preferences. High-fashion footwear is particularly appealing to the younger, fashion-conscious demographic. Brands that successfully interpret and adapt to these changing trends are gaining a competitive edge. Technological advancements are leading to innovations in footwear materials and design. Manufacturers now use lightweight materials, advanced sole designs, and even incorporate smart features like connectivity and health tracking. Consumers are increasingly appreciating these advancements, leading to higher market demand. Apart from this, the rise in e-commerce platforms is boosting the growth of the market. Online retailing offers consumers the convenience of shopping from home and the ability to compare various products and prices. Consumers are leaning towards brands that use eco-friendly materials and ethical manufacturing practices with growing awareness about environmental issues. Thus, sustainability is becoming not only a social responsibility but a competitive advantage in the market. Other factors, such as the growing global population and increasing disposable incomes, rapid urbanization, and the availability of a wide range of footwear to suit various needs are creating a positive outlook for the market across the globe.

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Who are the key players operating in the industry?

The report covers the major market players including:

• Nike Incorporation
• Adidas AG
• PUMA
• Geox S.p.A
• Skechers USA, Incorporation
• Timberland
• Crocs Retail, Inc.
• Ecco Sko A/S
• Wolverine World Wide, Inc.
• Under Armour Inc., etc

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product:

• Non-Athletic Footwear
• Athletic Footwear

Breakup by Material:

• Rubber
• Leather
• Plastic
• Fabric
• Others

Breakup by Distribution Channel:

• Footwear Specialists
• Supermarkets and Hypermarkets
• Departmental Stores
• Clothing Stores
• Online Sales
• Others

Breakup by Pricing:

• Premium
• Mass

Breakup by End-User:

• Men
• Women
• Kids

Breakup by Region:

• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
• Middle East and Africa ( Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)

𝐀𝐬𝐤 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐁𝐫𝐨𝐰𝐬𝐞 𝐟𝐮𝐥𝐥 𝐫𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐓𝐎𝐂 & 𝐋𝐢𝐬𝐭 𝐨𝐟 𝐅𝐢𝐠𝐮𝐫𝐞: https://www.imarcgroup.com/request?type=report&id=1313&flag=C

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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This release was published on openPR.