In terms of revenue, global footwear market was valued at USD 208.72 billion in 2014, increasing at a CAGR of 2.5% from 2015 to 2023. In terms of volume, global footwear market was valued at 9.99 billion units in 2014, increasing at a CAGR of 2.3% from 2015 to 2023.
Albany, NY -- (SBWIRE) -- 11/30/2016 -- The global footwear industry has been experiencing rapid expansion, primarily due to rapid demand for new and innovative footwear products worldwide. Due to advancements in manufacturing processes, technology innovation and integration, modern, trendy, and comfortable shoes are being continuously developed at reasonable prices in order to keep pace with the growing demand for these products.
Rising sports activity has significantly increased the focus on sportswear globally. Different international brands are merging sportswear with fashion wear nowadays. In addition, there has been a surge in health and fitness activities among consumers worldwide, particularly in running and other sports. Thus, leading sports brands are continuously involved in the manufacturing of technically sophisticated and innovative products. On account of their changing lifestyles, men and women are wearing sports-inspired footwear in daily life. Versatility, comfort, and style are some of the major factors driving the appeal of sportswear, which in turn is likely to propel the growth of the footwear market globally.
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An overall rise in the retail culture is triggering the growth of global footwear market. Factors such as great diversity in the footwear market and easy availability of products in many retail outlets are anticipated to encourage impulse buying of these products. Different brands as well as retailers are re-orienting their focus on this market, which has led to a significant increase in the number of retail outlets worldwide. Moreover, there has been noteworthy growth in the advertising and marketing related investments made by different brands. Internet retailing is also gaining prominence for the purchase of footwear across different cities. This channel is gaining popularity for the purposes of shopping for women's footwear as well as sports footwear.
However, increasing production of counterfeit footwear products by local manufacturers is hindering the growth of the global footwear market. These duplicate products are hampering the distribution channel and are leading to a negative impact on the overall growth of the market.
This market research study analyzes the global footwear market and provides estimates in terms of revenue (USD Million) and volume (Million Units) from 2014 to 2023. It recognizes the drivers and restraints affecting the industry and analyzes their impact over the forecast period from 2015 to 2023. Moreover, it identifies the significant opportunities for market growth in the years to come.
The report segments the market based on product type which includes athletic footwear and non-athletic footwear. The global athletic footwear market is further segmented into running and cross training/tennis shoe, soccer/football shoe, golf shoe, basketball shoe, hiking shoe, baseball shoe and others. The global non-athletic footwear market is classified into casual footwear, dress evening footwear, military boots, lite hiking outdoor sandal and others. On the basis of gender type, the footwear market is subdivided into men's footwear, women's footwear and kids' footwear. Furthermore, the global footwear market has been divided by geography into North America, Europe, Asia Pacific and rest of the world (RoW).
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In order to ensure a clear understanding of the global footwear market, we have given a detailed analysis of the supply chain and distribution channel.
The report provides company market share analysis of the various industry participants. Key players have also been profiled on the basis of company overview, financial overview, business strategies and key developments. Major market participants profiled in this report include Nike Inc. (U.S.), Adidas AG (Germany), Puma SE (Germany), New Balance Inc. (U.S.), Asics Corp.(Japan), Bata Limited (Canada), Deichmann SE (Germany), Skechers USA, Inc. (U.S.), The Aldo Group Inc. (Canada), VF Corp.(U.S.), W.L. Gore & Associates, Inc. (U.S.), Jack Wolfskin (Germany), Sympatex Technologies GmbH (Germany), Polartec, LLC (U.S.), Kathmandu Holdings Limited (New Zealand), and Columbia Sportswear Company (U.S.).
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