Footwear Market Current Scene and Future Growth Assessment 2024 - 2031 | Adbri Ltd (Adbri), Big City Crushed Concrete

Market Overview:

Global footwear market size is expected to reach US$ 475.08 Bn by 2031, from US$ 364.81 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 4.5% during the forecast period.

Market Dynamics:

The global footwear market is expected to witness significant growth over the forecast period 2024-2031, owing to increasing urbanization worldwide. Rapid urbanization is encouraging on-the-go lifestyles, resulting in high demand for comfortable and fashionable footwear from the growing middle-class population. Additionally, changing consumer preferences toward branded and specialized footwear for various activities such as running, hiking, and gym are also contributing to market growth. Innovation in footwear design and material to provide enhanced comfort, breathability, and performance is further augmenting demand.

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Footwear market is growing and will continue its growth trajectory

Increased Spending on Casual and Athletic Footwear

Consumers around the world are spending more on casual and athletic footwear as compared to formal footwear. With remote and hybrid work models becoming more common, people are increasingly wearing comfortable shoes all day long instead of dressing formally for work. Casual and athletic shoes are also becoming a fashion statement. Many top brands are known to sell casual and athletic shoes at premium prices. This change in consumer preference and lifestyle has increased the demand and sales of casual and athletic footwear globally. As per market estimates, casual and athletic footwear segment accounted for over 60% of the total footwear sales in 2023 and this share is expected to grow further in the coming years.

E-commerce to Create New Opportunities

During the pandemic, e-commerce emerged as one of the biggest opportunities as retail stores remained closed for long periods. Even after stores reopened, online footwear sales continue to grow steadily. Consumers find it convenient to browse, compare prices and purchase footwear online from both desktop as well as mobile devices. E-commerce platforms provide access to a huge variety of footwear brands on a single platform along with cash on delivery and easy return policies. Major footwear players as well as new D2C brands are investing heavily in e-commerce channels and omni-channel capabilities. This will help them tap customers in both urban and non-tier 1 cities. E-commerce is expected to disrupt the footwear market by providing new growth avenues.

Sustainability Trends Gaining Traction

Green and eco-friendly clothing and footwear made from sustainable, recycled or natural materials are gaining popularity. Major footwear brands have announced targets and roadmaps for sustainable manufacturing and circular business models. Even consumers are willing to pay premium for sustainable products and want brands to disclose details about manufacturing processes and materials used. Technologies like green manufacturing, recyclable soles, biodegradable materials offer pathways for more sustainable footwear production. Emerging trends like vegan footwear are also creating buzz. With rising environmental awareness, sustainability will play a key role in influencing product designs, purchasing decisions and ultimately driving industry transformation in the long run.

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Top Companies Included in This Report:

• Adbri Ltd (Adbri)
• Big City Crushed Concrete
• CEMEX S.A.B. de C.V.
• CRH Plc. (CRH)
• Delta Sand & Gravel
• Eurocement Group
• Ferma Corp
• Green Stone Materials
• Heidelberg Cement AG
• Holcim
• Independence Recycling of Florida
• Martin Marietta Materials
• Rogers Group Inc.
• Tarmac
• Top Grade Site Management LLC
• Vulcan Materials Company
• China Resources Cement Holdings Limited
• Royal Mineral

Market Segmentation:

By Product Type:

• By Product Type: Crushed stone, Sand & Gravel, Other Aggregates

By Applications:

• By Application: Commercial, Residential, Industrial, Infrastructure

Key Regions/Countries are Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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The report offers insights on the following topics:

Chapter 1: Study Coverage

Chapter 2: Executive Summary

Chapter 3: Competitor Landscape of the Footwear Market by Players

Chapter 4: Market Size of the Footwear Market by Type and Application

Chapter 5: Global and Regional Analysis

Chapter 6: Company Profiles, Recent Developments, and Investments

Chapter 7: Analysis of Market Opportunities, Challenges, Risks, and Influencing Factors

Chapter 8: Analysis of Value Chain and Sales Channels, including notable product developments

Chapter 9: Research Findings and Conclusion

Chapter 10: Methodology/Research Approach

Ultimately, the Footwear Market report serves as a reliable source for acquiring market research to significantly enhance your business. It furnishes essential insights into regional economic conditions, product pricing, profitability, capacity, production, supply, demand, market growth rate, and forecasts. Additionally, the report includes a SWOT analysis, investment feasibility analysis, and return on investment analysis for new projects within the Footwear industry.

Should the aforementioned report not meet your precise requirements, we offer customized research tailored to comprehensively address your specific business needs. Our customized research will encompass all the pertinent business information necessary to assist you in making strategic and profitable business decisions.

Author Bio:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

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