Footwear Market Value Chain Analysis, Variables, Trends & Global Scope, 2025

Felton, Calif., USA, Apr. 06, 2021 — /EPR Network/ —

The global Footwear Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global footwear market is projected to reach USD 269.9 billion by the year 2025, according to a new report by Million Insights. It is anticipated to grow at a CAGR of 3.8% over the forecasted years, 2019 to 2025. The increasing demand for comfortable, fashionable and convenient footwear is the major driving force for the market growth. In order to satisfy this increasing demand, the key players are launching various products. For instance, Nike has launched its Air Max series which is being preferred by most of the sportsmen due to its salient features like lightweight and comfort.

Key Players:

• Nike
• Adidas America
• Puma
• Geox S.p.A
• Timberland
• Skechers USA Incorporation
• Ecco Sko A/S
• Crocs Retail
• Under Armour

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Growth Drivers:

The footwear market accounted for USD 207.6 billion, in 2018. It is expected to register a CAGR of 3.8% during, 2019 to 2025. The growth of the market can be attributed to the increasing demand for comfortable footwear to protect the feet. Also, the convenience and fashion of trending footwear are expected to boost market growth in the upcoming years.

Footwear industry growth is anticipated to increasing number of manufacturers. Countries like India, China and Vietnam are the major manufacturing hubs for the industry. Low labor cost, skilled workforce and availability of land at a cheaper price is expected to increase the number of new entrants in this market. Thus, the market for Asia Pacific is anticipated to grow at a faster pace during the forecasted period.

Type Outlook:

• Athletic
• Non-athletic

The athletic segment in the footwear market is expected to grow at a significant growth rate owing to the increasing health consciousness among the people. Various types of sports shoes are being developed by manufacturers to serve the purpose of every sport to be played. Thus, according to the sport to be played like Football studs, Running studs, Cricket studs, etc. As consumers are becoming aware of the specific purpose of each type, their demand is expected to increase in the upcoming years.

End User Outlook:

• Women
• Men
• Children

The segment of women as end-users is anticipated to grow at the fastest CAGR of 4.3% during the forecasted years, 2019 to 2025. The increase in the willingness among women, to spend more on personal appearance and wellbeing is expected to surge the demand for footwear in the upcoming years. This rise in demand can also be attributed to the increase in the disposable income among the working population, the latest trends and fashion styles being prevalent among the millennials.

Regional Outlook:

Asia Pacific holds the largest market share, in 2018 and is also anticipated to grow at the largest CAGR during the forecasted years. This has become popular due to the increasing population and demand across countries like China, India, and Japan. As most of the manufacturers are setting their base in these regions, this is expected to boost the market in the region. Europe holds the second largest market share owing to the increase in the purchasing power and willingness to spend more in order to look presentable.

The rise of footwear sales through e-commerce channels has been on the rise since the last few years in developed regions like America and Europe.

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