The global footwear market is shaped by two major trends – a rise in demand for designer footwear among the population and increasing consciousness about proper health and fitness. An increase in the demand for new and trendy footwear, coupled with a shift in economic production location, is also generating new opportunities for the market during the forecast period.
The footwear market report provides an analysis for the period from 2016 to 2026, where 2018 to 2026 is the forecast period, while 2018 is the base year. This report on footwear covers an in-depth analysis of the market including statistical and subjective data points, along with the key market drivers and opportunities & restraints that have positive or negative effects on the overall global market. An exclusive coverage has been provided for market drivers and challenges & opportunities for a country-level market in the respective regional segments. The report comprises a competitive analysis of the key players functioning in the market and covers in-depth data related to the competitive landscape of the market and the recent strategies & products that will assist or affect the market in the coming years.
The global footwear market has been segmented on the basis different product type, material, distribution channel, and end-use. On the basis of different product types, the market has been segmented into athletic footwear and non-athletic footwear. Athletic footwear is further segregated into running shoes, soccer/football shoes, hiking shoes, baseball shoes, and others. Non-athletic footwear has been further segmented into casual shoes, dress shoes, and others. By different materials, the market is segmented into leather, rubber, and plastic. By distribution channels, the market has been segmented into online channel and offline channel. The offline channel has been further segregated into hypermarkets, specialty stores, and others. On the basis of end-use, the global footwear market has been further segregated as men, women, and kids.
The athletic footwear is expected to witness a significant growth rate during the forecast period
In terms of different product types, the athletic footwear segment is expected to witness significant growth during the forecast period. The inclination of people towards different types of shoes required for sporting and physical activities and which help prevent leg injuries, muscle injuries, hip pain, knee pain, and back pain, is resulting in the overall growth of the athletic footwear segment over the years.
The athletic footwear segment is further segmented into running shoes, soccer/football shoes, hiking shoes, baseball shoes, and others. Running shoes dominated the market in 2018 and is expected to display a similar trend in the coming years. This is mainly due to the daily usage of running shoes for different physical activities and the availability of shoes in a wide range of prices, which are resulting in a rise in demand for running shoes over the years.
The online segment is expected to witness the fastest growth during the forecast period
In terms of different distribution channels, the online segment is expected to witness the fastest growth during the forecast period. Online portals are extensively used in developed countries such as U.S., U.K., and Germany for the purchase of consumer durable goods and are expected to emerge as a steady revenue-generating source for athletic footwear manufacturers during the forecast period.
Asia Pacific is expected to witness the fastest growth during the forecast period
Asia Pacific dominated the market in 2018 and is expected to display a similar trend in the coming years. The region is also expected to witness the fastest growth during the forecast period. India and China are leading economies in the Asia-Pacific region, owing to the rising penetration of e-commerce websites, increasing per capita income, and significant investments by top industry players due to potential growth opportunities present in the region.
The key players in the global footwear market are Adidas AG, Nike Inc., Skechers USA, Puma SE, Geox, Under Armour Inc., ECCO Sko A/S, Timberland, New Balance, Deichmann SE, BATA, Jack Wolfskin, The Aldo Group, Polartec, Asics Corp, and Columbia Sportswear, among others. The players have stepped up new product innovations and new product launches, in order to gain more attention from customers. Moreover, market growth is attributed to strategic mergers & acquisitions, geographical expansions, and joint ventures & partnerships, in order to ensure long-term sustenance in the market.
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Get latest Market Research Reports on Footwear. Industry analysis & Market Report on Footwear is a syndicated market report, published as Global Footwear Market - Segment Analysis, Opportunity Assessment, Competitive Intelligence, Industry Outlook 2016-2026. It is complete Research Study and Industry Analysis of Footwear market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.