A Billion-Dollar Boom in The Global Footwear Market Motivates the Market Players

A recent study published by Allied Market Research is based on the global footwear market. The research material is for the forecast period of 2015 to 2020 and offers deep insights into the key benefits, key market segmentation, and various research methodology undertaken. According to the industry analysists, the market will reach $372.8 billion by 2020. A compound annual growth of 5.5% can be seen during the forecast period 2015–2020.

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The global footwear market report highlights the market definition and scope, key findings, Porter’s Five Force Analysis, value chain analysis, market share analysis, and the market dynamics that mention details about the various driving forces, restraints, and opportunities. The key findings consider the effect of the top impacting factor, top investment pockets that hold lucrative, and the top winning strategies that aid the footwear business.

The drivers delve into factors such as changing lifestyles, increasing health concerns, the rise in the working population, high disposable income, and an impressive number of children inspired by sports which push the growth of the global footwear market. Along with it, business restraints like inflated prices of raw material can hamper growth. However, to balance the market, opportunities like increased demand for comfortable footwear boost the margins of the global footwear segment.

There are several observations made for each of the segment on the basis of types of footwear, the material used, the end user it caters to, and geographical sphere of influence. Athletic and non-athletic footwear will be growing at a similar momentum as observed in the forecast period. As per the industry experts, leather segment accounts for 60% of the market and would continue to hold this position in the coming decade.

Geographically speaking, the Asia-Pacific region of China and India is viewed as a major exporter of leather footwear to the United States. The United Kingdom was seen dominating the global footwear market generating revenues as much as $116.9 billion in 2014. However, due to a competitive nature of the market, the Asia-Pacific region is seen as the highest revenue generating region and will continue to dominate the segment over the forecast period.

The international market consists of well-established players who boast of a robust portfolio in the global footwear market. The key players such as Nike Incorporation, Adidas AG, PUMA, Sketchers USA Incorporation, Timberland, Geox S.P.A, Crocs Retail Inc., Under Armour Inc., Wolverine World Wide Inc., Ecco Sko A/S have formulated SWOT analysis to enable them to create new plans for strategic penetration in the market. The two important strategies that are deemed lucrative are product launch and partnerships. A large portion of population consisting of active men and women are looking for athletic footwear that is comfortable yet in vogue. This makes for a positive boost for the shareholders who can cater to the needs of a growing demand. Various components of the business, and major developments made by the global players are also a part of this important report.

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