Footwear Market By Distribution Channel (E-Commerce, Offline Stores), By End User (Men, Women, Children), By Material (Leather, Non-leather), By Type (Athletic, Non-athletic): Global Opportunity Analysis and Industry Forecast, 2023-2032
The Footwear Market size was valued at $409,515.8 million in 2022 and is estimated to reach $725,069.9 million by 2032, registering a CAGR of 5.9% from 2023 to 2032. The foot is shielded and protected by footwear from the textures, temperatures, and gravel roads of the ground. Different materials, including leather, plastic, rubber, and cloth, are used to make shoes. One of the most popular materials for the original iteration of footwear is leather. For the production of footwear, companies like Nike are turning to environmentally friendly raw materials including recycled carpet padding, car tires, and organic cotton. The increase in penetration of various online portals in developing regions and the rise in the number of offers or discounts attract consumers to purchase footwear through online channels. Moreover, online sales channels increased consumer reach owing to which it has evolved as a key source of revenue for many companies. Furthermore, the online sales market is expected to expand in the near future due to rapid growth in online and mobile user customer bases in emerging markets. An increase in e-commerce sales, improvements in logistics services, ease in payment options, and the facility to enter new international markets for major brands further augment the growth of the footwear market.Consumer behavior changes have had a big impact on the footwear sector. A survey was done by prominent Asia-Pacific retailer Bata to find out how people's fashion preferences are changing. The poll discovered that men buy a pair of shoes every four months, as opposed to women who buy them every two months. This factor significantly affects how quickly the global footwear market is growing. Additionally, customers consider comfort when choosing the appropriate footwear. Additionally, individuals are purchasing stylish and comfortable shoes, which contributes to the market's expansion. The demand for stylish, vibrant shoes among children is similar to that of adults and is a key factor in the growth of the global market.People are currently becoming more aware of their health on a global scale. As a result, more individuals across all age groups are using fitness centers and participating in both indoor and outdoor exercise activities, which in turn has raised the demand for athletic footwear. Working people also pick fitness regimens like swimming, running, and exercising to maintain a healthy and active lifestyle. As a result, all age groups now have a need for footwear, which is encouraging market expansion.Government support for competitive sports has increased, including FIFA, the Olympics, Formula 1, and Cricket World Cups. The number of athletes competing in the organized domestic athletic events has increased thanks to government officials' encouragement to sign up. There is a growing need for sports accessories such as apparel, sunglasses, and footwear as a result of the increase in participation.Like men and women, today's kids demand elegant, stylish, colorful, and sporting-inspired footwear. The demand for athletic footwear has increased as a result of the rise in the number of youth playing sports. Shoes for kids' sports including football, basketball, hockey, tennis, baseball, and more are becoming much more in demand. In addition to athletic footwear, children have a strong preference for attractive trainers, flip-flops, slip-ons, boots, and casual shoes, which is what is fueling the growth of the worldwide footwear sector.The Footwear Market is segmented on the basis of type, material, end users, distribution channel, and region. By type, the footwear Market is classified into athletic and non-athletic. Depending on the material, the market is categorized into leather and non-leather. By end users, it is categorized into men, women, and children. Depending on the distribution channel, the market is categorized into E-Commerce and offline channel. By region, the market is analyzed in North America, Europe, Asia Pacific, and LAMEA. Some of the major players analyzed in this report are Adidas AG, Nike Inc, Puma SE, Under Armour, Inc, Skechers USA, Inc., Geox S.P.A., VF Corporation, Crocs, Inc., ECCO Sko A/S and Wolverine World Wide, Inc.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the footwear market analysis from 2022 to 2032 to identify the prevailing footwear market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the footwear market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global footwear market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy MaterialLeather
Non-leather
By Distribution ChannelE-Commerce
Offline Stores
Sub type
Brand Outlet
Hypermarket/Supermarket
Specialty Store
Others
By End UserMen
Women
Children
By TypeNon-athletic
Athletic
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Switzerland
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
UAE
Rest of LAMEA
Key Market Players
Adidas AG
Crocs, Inc.
ECCO Sko A/S
Geox S.p.A.
Nike Inc.
Puma SE
Skechers USA, Inc.
Under Armour, Inc.
VF Corporation
Wolverine World Wide, Inc.
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