The latest report by IMARC Group, titled “Europe Footwear Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the Europe footwear market size reached US$ 85.0 Billion in 2022. Footwear is worn to provide protection and comfort to the feet. It also eases locomotion and aids in preventing injuries due to the adversities of the environment like temperature and ground textures. Over the years, the styles and quality of footwear have significantly evolved with the changing fashion trends. As a result, consumers in the European region are shifting toward footwear with advanced technical fabrications that blend comfort with fashion.
Europe Footwear Market Trends:
The growing inclination of consumers toward premium and high-end footwear ranges due to the increasing purchasing power represents the primary factor driving the market. Additionally, the rising popularity of sustainable footwear ranging from hay-based sneakers to biodegradable, vegan stilettos has escalated the market growth. Due to this, manufacturers are heavily investing in aggressive promotional activities like celebrity endorsements and offering a wide range of footwear options with numerous designs, colors, price ranges and materials to expand their customer base. Furthermore, the expansion of organized retail outlets and the emerging e-commerce sector has bolstered the market growth. Besides this, with the growing health consciousness, there has been increasing consumer interest in physical activities, such as jogging, yoga and gym, which is augmenting the demand for athletic and sports footwear. On account of these factors, IMARC Group expects the market to exhibit a CAGR of 3.6% during 2023-2028.
- Based on the product, the market has been classified as non-athletic and athletic footwear.
- On the basis of the material, the market has been categorized into rubber, leather, plastic, fabric, and others.
- Based on the distribution channel, the market has been segregated into footwear specialists, supermarkets and hypermarkets, departmental stores, clothing stores, online sales, and others.
- The market has been bifurcated based on the pricing into premium and mass products.
- On the basis of the end user, the market has been divided into men, women, and kids.
- Country-wise, the market has been segmented into Germany, France, the United Kingdom, Italy, Spain, and others.
- The competitive landscape of the market has also been analyzed, along with the detailed profiles of the key players operating in the industry.
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