Market Overview:

The global footwear market reached a value of US$ 224.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 288.2 Billion by 2027, exhibiting at a CAGR of 4% during 2022-2027. 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.

Key Market Segmentation:

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 2022-2027. Our report has categorized the market based on product, material, distribution channel, pricing and end-user.

Breakup by Product:

• Non-Athletic Footwear
• Athletic Footwear
   

Breakup by Material:

• Rubber
• Leather
• Plastic
• Fabric
• Others
   

Breakup by Distribution Channel:

• Footwear Specialists
• Supermarkets and Hypermarkets
• Departmental Stores
• Clothing Stores
• Online Sales
• Others
   

Breakup by Pricing:

• Premium
• Mass
   

Breakup by End-User:

• Men
• Women
• Kids
   

Breakup by Region:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
   

Competitive Landscape:

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.

Report Coverage: