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The global footwear market reached a value of US$ 248.6 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 4.8% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Footwear is worn for providing comfort and protection to the feet. It is manufactured using a wide variety of materials such as wood, canvas, leather, jute, plastics and rubber. With the changing aesthetics and fashion trends, the quality and styles of footwear have considerably evolved to provide maximum comfort to the consumers. Footwear can either be machine- or hand-made and is commonly available for both athletic and non-athletic purposes. Although a necessity, footwear has evolved as a symbol of luxury and class over time.
Increasing demand for superior quality footwear along with product innovation and premiumization represent some of the key factors driving the market. Manufacturers are increasingly emphasizing on the development of unique designs, while also giving importance to comfort. This has led to the introduction of innovative products which are comfortable as well as fashionable. Increasing interest in sports and inclination towards athletic and physical activities such as jogging have also positively impacted the market growth. Although online marketing has overpowered physical shopping experience in most consumer goods segments, consumers still prefer to be physically present while buying footwear. This has further led to the proliferation of organized retail outlets and has improved customer-manufacturer interaction. Furthermore, aggressive promotional activities by manufacturers and enhanced spending capacities of consumers have also catalyzed the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global footwear market, along with forecasts at the global and regional level from 2021-2026. Our report has categorized the market based on product, material, distribution channel, pricing and end-user.
Breakup by Product:
Breakup by Material:
Breakup by Distribution Channel:
Breakup by Pricing:
Breakup by End-User:
Breakup by Region:
The report has also analysed the competitive landscape of the market with some of the key players being Nike Incorporation, Adidas AG, PUMA, Geox S.p.A, Skechers USA, Incorporation, Timberland, Crocs Retail, Inc., Ecco Sko A/S, Wolverine World Wide, Inc., Under Armour Inc., etc.
|Base Year of the Analysis||2020|
|Segment Coverage||Product, Material, Distribution Channel, Pricing, End-User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Companies Covered||Nike Incorporation, Adidas AG, PUMA, Geox S.p.A, Skechers USA, Incorporation, Timberland, Crocs Retail, Inc., Ecco Sko A/S, Wolverine World Wide, Inc. and Under Armour Inc.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
The global footwear market was valued at US$ 248.6 Billion in 2020.
The rising consumer disposable income levels, coupled with the growing popularity of premium and luxury footwear brands, represent some of the factors catalyzing the global footwear market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in disrupted supply chains, unavailability of raw materials, and temporary closure of numerous manufacturing facilities of footwear.
Based on the product, the global footwear market can be segmented into athletic footwear, and non-athletic footwear, where non-athletic footwear holds the largest market share.
Based on the material, the global footwear market has been divided into rubber, leather, plastic, fabric, and others. Currently, rubber exhibits a clear dominance in the market.
Based on the distribution channel, the global footwear market can be segregated into footwear specialists, supermarkets and hypermarkets, departmental stores, clothing stores, online sales, and others. Among these, clothing stores currently account for the majority of the total market share.
Based on the pricing, the global footwear market has been bifurcated into premium products and mass products. Currently, mass products exhibit a clear dominance in the market.
Based on the end user, the global footwear market can be categorized into men, women, and kids. Among these, men footwear accounts for the majority of the overall market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America dominates the global market.
Some of the major players in the global footwear market include Nike Incorporation, Adidas AG, PUMA, Geox S.p.A, Skechers USA, Incorporation, Timberland, Crocs Retail, Inc., Ecco Sko A/S, Wolverine World Wide, Inc., Under Armour Inc., etc.
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