North America Footwear Market was valued at USD 80,594.4 million in 2014, growing at a CAGR of 1.5% from 2015 to 2021 to account for USD 89,717.9 million by 2021.
Albany, NY -- (SBWIRE) -- 02/14/2020 -- A new Transparency Market Research report states that the North America footwear market stood at approximately US$80.6 bn in 2014 and is predicted to touch US$89.7 bn by 2021, by rising at a 1.50% CAGR between 2015 and 2021. The title of the report is "Footwear Market - North America Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021."
Footwear refers to a type of protective covering that is worn on the feet and was originally utilized for protection against a number of environmental adversities, particularly heat and rocks. Hence, footwear in the form of shoes helps in easing movement and prevents the wearer from injuries. The contemporary footwear market is more focused on providing trendy and fancy yet comfortable footwear for all age groups. This is owing to the changing consumer fashions and trends. A large variety of footwear for different purposes has been introduced by the major players dominant in the footwear market.
The footwear market in North America is being influenced by the introduction of new innovations and styles within the different categories of footwear. The rising count of athletes and the increasing shift towards staying fit and active are the major factors propelling the growth of the North America footwear market. The increasing sense of fashion in this region is also impacting the market positively. In addition, the increasing count of product promotions by the manufacturers of footwear in North America has also augmented the development of the market here. Furthermore, the increasing number of online platforms for purchasing different kinds of footwear and the soaring count of working women in this region have also driven the development of the market.
On the basis of gender, the North America footwear market is segmented into kid's footwear, women footwear, and men footwear. By type, the report segments the market into non-athletic footwear and athletic footwear. Amongst these, the non-athletic footwear market is sub-segmented into dress/formal, casual footwear, and fashion footwear.
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Athletic footwear is further categorized into sports (cross training), insert shoe, backpacking boots, and hiking shoes. Of these, the demand for non-athletic footwear is comparatively more than the demand for athletic footwear. This is owing to the changing trends of fashion and the growing number of working women in the region of North America. The demand for athletic footwear will also stay strong owing to the proliferation of new styles of footwear matching the increasing concerns about health. The segment of non-athletic footwear is predicted to lead the North America footwear market all through the forecast horizon.
By country, the report segments the market into Canada, the U.S., Mexico, and others. Amongst these, in 2014, the U.S footwear market constituted the largest share on the basis of revenue. It is poised to maintain its superiority all through the forecast horizon. On the other hand, Canada trails the U.S on the basis of revenue and this trend is predicted to remain consistent all through the forecast period.
According to the report, the key players dominant in the footwear market in North America are Nike Inc, Adidas AG, The Aldo Group Inc., and Skechers U.S.A., Inc., among others.
The market is segmented as below:
North America Footwear Market: By country
North America Footwear Market: By Type