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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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