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Footwear Market: Europe Industry Analysis, Size, Share, Growth | Trends, Forecast 2021
The Europe footwear market is predicted to experience exponential growth owing to the rising number of working women, hectic lifestyles, and increasing fashion awareness amongst customers with respect to footwear. In addition, introduction of new footwear styles such as recycled footwear and ethical footwear, and increased online sales have also stimulated the Europe footwear market. Furthermore, the increasing disposable income of the younger population and the growing preference for eco-fashion are further boosting the footwear market in Europe.
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On the basis of type, the footwear market in Europe is segmented into non-athletic footwear and athletic footwear. Amongst these, non-athletic footwear held the largest revenue share in the market and represented US$23.1 bn in 2014. The segment is anticipated to maintain its superiority all through the forecast horizon. The demand for non-athletic footwear is predicted to be on the rise in the forthcoming years due to the rising number of female workers and continuous changes in fashion.
The athletic footwear market is Europe is further sub-segmented into sports (cross training) shoes, backpacking boots, hiking shoes, and insert shoes. The non-athletic footwear market is sub-segmented into casual footwear, dress/formal footwear, and fashion footwear. On the basis of volume, insert shoes represented the biggest share in the market in comparison to hiking shoes, sports (cross training) shoes, and backpacking boots. On the other hand, casual footwear held the biggest market share in comparison to fashion footwear and dress/formal shoes.
On the basis of geography, the footwear market in Europe is segmented into Italy, the U.K., France, the Netherlands, Spain, Germany, and Rest of Europe. Amongst these, in 2014, the U.K. held the biggest share of 15.20% in the market, trailed by Germany. The U.K. is predicted to maintain its superiority throughout the forecast horizon. Germany held a share of 13.6% the same year and is expected to maintain a dominant position all through the forecast horizon. Nike Inc, Adidas AG, Puma SE, Bata Limited, and Deichmann SE, among others, are the prominent players operating in the Europe footwear market.
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