Asia-Pacific Region to Witness Significant Growth in Footwear Market; Industry Players Modify Strategies to Bolster Sales

According to the report, the global footwear industry was estimated at $409.5 billion in 2022, and is anticipated to hit $725.1 billion by 2032, registering a CAGR of 5.9% from 2023 to 2032.

📚 𝐃𝐨𝐧'𝐭 𝐦𝐢𝐬𝐬 𝐨𝐮𝐭 𝐨𝐧 𝐲𝐨𝐮𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲: https://www.alliedmarketresearch.com/request-sample/697

The global footwear market is driven by factors such as changes in lifestyles, increases in health awareness, surge in government investment in sports events, and rise in number of sports-inspired children. On the other hand, the availability of counterfeit products and government rules and regulation toward leather products limits the expansion of the business. However, the rise in demand for fancy yet comfortable footwear and increase in social media marketing are expected to create lucrative opportunities in the industry.

The footwear industry has been significantly impacted by changes in consumer habits. Leading Asia-Pacific retailer Bata conducted a survey to determine how people's fashion preferences are evolving. In contrast to women, who purchase shoes every two months, the survey found that men buy a pair every four months. This element has a sizable impact on the expansion of the worldwide footwear market. Additionally, when picking the right footwear, buyers take comfort into account. Additionally, people are buying fashionable and cozy shoes, which helps the market expand. Children's need for fashionable and colorful shoes, which is similar to that of men and women, is a major driver of the global market's expansion.

Currently, people all around the world are becoming more cognizant of their health. This has compelled people to go to fitness centers and engage in both indoor and outdoor exercise activities, which has in turn increased demand across all age groups for athletic footwear. To maintain a healthy and active lifestyle, working people also choose exercise regimens like swimming, running, and exercising. All age groups now have a need for footwear as a result of this, which is promoting market expansion.

𝐃𝐨 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 https://www.alliedmarketresearch.com/purchase-enquiry/697

Government funding for competitive sports like the Olympics, Formula 1, Cricket World Cups, and FIFA has increased. The government officials' encouragement of the athletes to join has increased the number of athletes participating in the domestic sporting events that are being organized. As a result of the rise in participants, there is a rising need for sports accessories such as clothing, sunglasses, and footwear.

𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲
By type, the non-athletic segment is estimated to witness significant growth, registering a CAGR of 5.8% during the forecast period.
By material, the non-leather segment is anticipated to grow at a CAGR of 5.8% during the footwear market analysis period..
By end user, the women segment is anticipated to grow at a CAGR of 5.6% during the forecast period.
By distribution channel, the offline store segment is estimated to witness significant growth, registering a CAGR of 5.8% during the forecast period.
By region, Asia-Pacific was the dominant region in 2021, occupying a major share of the market.

𝐊𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲-
Nike Inc.
Crocs, Inc.
Geox S.p.A.
Skechers USA, Inc.
Adidas AG
Under Armour, Inc.
ECCO Sko A/S
Wolverine World Wide, Inc.
VF Corporation
Puma SE

𝐊𝐧𝐨𝐰 𝐌𝐨𝐫𝐞- https://www.alliedmarketresearch.com/footwear-market

𝐓𝐨𝐩 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐭𝐨 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐆𝐨𝐨𝐝𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬
𝐒𝐤𝐢𝐧 𝐋𝐢𝐠𝐡𝐭𝐞𝐧𝐢𝐧𝐠 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/skin-lightening-products-market-A16872
𝐏𝐞𝐭 𝐂𝐚𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/pet-care-market-A06512

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