Albany, NY -- (SBWIRE) -- 04/11/2014 -- Transparency Market Research "Footwear Market - Global Industry Size, Market Share, Trends, Analysis, and Forecast, 2012 - 2018," the global footwear market was worth USD 185.2 billion in 2011 and is expected to reach USD 211.5 billion in 2018, growing at a CAGR of 1.9% from 2011 to 2018. In the overall global market, Asia Pacific is expected to maintain its lead position in terms of revenue till 2018. Asia Pacific is expected to enjoy 30.1% of the global footwear market revenue share in 2018 followed by Europe.
The global footwear market is experiencing a stable growth rate due to changing fashion trends. This market has exhibited sustainable development owing to driving factors such as rising demand for innovative designs, growing awareness about healthy and active lifestyle, rising population and disposable income levels, and rise in retail culture.
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The athletic footwear market is expected to grow at a CAGR of 1.8% from 2011 to 2018 to reach USD 84.4 billion by 2018. Non-athletic footwear is the largest market segment and is expected to grow at a faster CAGR as compared to the athletic footwear segment. Various fashion trends in the market such as demand for innovative designs and styles, and celebrity endorsement is driving the non-athletic footwear market.
The global footwear market is segmented into Men, Women and Kids footwear. Men's footwear market is a leading segment with 52% market share of the overall footwear market. Kids footwear market is expected to grow at a CAGR of 3.7% due to the high demand of comfortable and designer footwear for kids.
Based on type of distribution, footwear retailing is sub-divided into store-based and non-store retailing. Store-based footwear retailing accounted for most of the footwear market revenue and is valued at USD 173.6 billion in 2011. Non-store footwear retailing is expected to gain pace in future and is expected to grow at a CAGR of 6.9% from 2011 to 2018 to reach USD 18,588 million by 2018.
The Asia Pacific region holds the largest share at 42% of the overall footwear market and is expected to grow at a CAGR of 2.1% from 2011 to 2018 followed by Europe with 21% of market share. The Asia Pacific region remains the point of focus for footwear manufacturers due to the cheaper cost of manufacturing and faster growth in population and disposable income of consumer groups.
Nike is the world leader in athletic and non-athletic footwear segment and comprehensively leads the overall global footwear market. The footwear market is largely consolidated with top five players including Nike, Adidas, Reebok, Puma and New Balance holding around 70% market share. Other major players in the footwear market are Asics, Converse, Sketchers and K-Swiss. The popularity of local manufacturers and growing piracy in developing countries remains the major challenge for global footwear manufacturers.
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