The global footwear market size reached US$ 224.6 Billion in 2021. Footwear is worn to provide comfort and protection to the feet. It is made with various materials such as wood, canvas, leather, jute, plastics, and rubber. It is manufactured in different styles, colors, and shapes, depending on the changing aesthetics and fashion trends. Nowadays, footwear is gaining widespread popularity among individuals worldwide as it is also available for athletic and non-athletic purposes, and has evolved as a symbol of luxury and class over time.
As per the analysis by IMARC Group, the top footwear companies are making customized shoes to attract consumers and build stronger brand loyalty. They are also launching smart shoes integrated with advanced technologies to expand their product portfolio. For instance, Nike, Inc. has launched innovative self-lacing shoes called “HyperAdapt,” which have pressure sensors in the soles. Besides this, key players are also investing in research and development (R&D) activities to introduce sustainable footwear, such as hay-based sneakers and biodegradable and vegan stilettos. Moreover, several manufacturers are adding advanced soles to their shoes to provide more comfort to the athletes while performing various physical activities. Looking forward, IMARC Group expects the market value to reach US$ 288.2 Billion by 2027, exhibiting a CAGR of 4% during the forecast period (2022-2027).
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Top Manufacturing Companies and Brands in the Footwear Industry:
Headquarters: Beaverton, United States
Nike, Inc. is a multinational corporation that is engaged in the development, design, manufacturing, and worldwide marketing and sales of footwear, equipment, apparel, accessories, and services. It also operates under the Converse, Hurley, and Jordan brands. The company’s mission is to make its products more sustainable, build a creative and diverse global team, and create a positive impact on communities. Recently, Nike has acquired shoe companies like Cole Haan and Converse, Inc. to diversify its product line and gain a competitive edge in the market.
Headquarters: Herzogenaurach, Germany
Adidas sells sports shoes, apparel, and equipment in more than 160 countries. It is the largest sportswear manufacturer in Europe and the second-largest in the world. It also owns another major sports brand, Reebok, which sells fitness and gym apparel. The company provides its products inclusively through more than 2,500 owned stores, a franchise network, and a wholesale channel. Every year, Adidas produces over 900 million sports and sports lifestyle products with independent manufacturing partners worldwide.
Headquarters: Herzogenaurach, Germany
PUMA is a sports lifestyle company that provides performance and sport-inspired products in categories such as running and training, football, golf, and motorsports. It also issues licenses to authorized independent partners to design, manufacture and sell fragrances, eyewear, and watches. With more than 70 years of expertise, Puma aims to be the largest sportswear brand that creates unique product designs for the fastest athletes in the world. Presently, the company employs more than 13,000 people worldwide and distributes its products in around 120 countries.
Headquarters: Montebelluna, Italy
Geox creates, develops, promotes, and distributes footwear and apparel for retailers and end consumers. The company also offers shoes, jackets, and accessories for men, women, and children under the Geox brand. It sells its products in more than 110 countries, reaching consumers through traditional retail outlets and a chain of over 1,160 Geox branded stores. The wide range of Geox products is designed to meet the needs of individuals while also including wellbeing, comfort, and contemporary style.
Skechers USA, Incorporation
Headquarters: California, United States
Skechers USA, Inc. is a global leader in the footwear industry that develops and markets more than 3,000 styles for men, women, and children. It offers two distinct footwear categories, namely lifestyle division, and performance footwear. The company also provides branded accessories, apparel, eyewear, and scrubs. Presently, Skechers serves in more than 170 countries and territories through an international network of subsidiaries and joint ventures in Asia, Mexico, and the Middle East, and distributors across the globe.
Crocs Retail, Inc.
Headquarters: Niwot, United States
Crocs, Inc. is a world leader in innovative and casual footwear. The company’s first and most famous style, the Classic Clogs, gained immense popularity around the world. Since then, it has sold more than 300 million pairs in over 90 countries. Crocs designs and manufactures its products using the proprietary closed-cell resin, Croslite, a technology that gives each pair of shoes the soft, lightweight, comfortable, non-marking, and odor-resistant qualities.
Headquarters: Massachusetts, United States
Timberland LLC is a manufacturer and retailer of footwear, workwear, and apparel, such as clothes, watches, glasses, sunglasses, and leather goods for men, women, and children. The company’s flagship product is its waterproof boots, which are manufactured using environment-conscious materials and innovative technology. The company has also launched an advanced anti-fatigue technology comfort platform that uses shock-absorbing cones to compress and rebound energy back to the foot, providing more stamina and strength, and reducing foot fatigue.
Ecco Sko A/S
Headquarters: Bredebro, Southwest Denmark
The ECCO Soft shoe was the first successful application of the new Direct Injection Technology introduced in the early 1980s. The company began with only the production of footwear, however, has since expanded into leather production, accessories, and small leather goods. At present, the company employs around 22,000 people and serves in various countries such as Slovakia, Indonesia, Thailand, Hong Kong, Australia, New Zealand, Finland, Sweden, Belgium, and Poland.
Wolverine World Wide, Inc.
Headquarters: Michigan, United States
Wolverine Worldwide, Inc. is a publicly-traded footwear manufacturing company. The company’s diverse product portfolio includes various brands, such as Chaco, Bates, HyTest, Hush Puppies, Keds, Soft Style, Merrell, Saucony, Sperry, Stride Rite Children’s Group, Wolverine, and Wolverine Leathers. It also owns licensed brands such as Cat Footwear and Harley-Davidson Footwear. With an established global footprint that spans approximately 200 countries and territories and advanced infrastructure, Wolverine Worldwide aims to manufacture the most comfortable boots that can withstand adverse conditions.
Under Armour Inc.
Headquarters: Baltimore, United States
Under Armour is a manufacturer of footwear, sports, and casual apparel. The company made the leap into footwear by introducing its first line of football cleats. Under Armour’s mission is to make all athletes better through design, passion, and the relentless pursuit of innovation. Keeping the purpose in mind, the brand captured a 23 percent market share in its first year and became the official footwear supplier to the National Football League (NFL).
About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has successfully done multiple projects in the footwear industry and regional the United States, GCC, India, Europe, and the Asia Pacific, which has enabled clients to set up and expand their businesses. Some of the company’s offerings include:
- Market Research
- Plant setup
- Plant Expansion
- Marketing and sales
- Procurement and Distribution
- Innovation and Product Development