Global Footwear Market to 2027

Global Footwear Market to 2027

Summary

This report offers analysis of both the historic and forecast data of the global footwear market through to 2027. It provides a brief of the key trends along with sales and growth across different regions and category groups. It also highlights key global footwear brands and their current competitive position.

After growing by just 1.3% in 2022, to surpass 2019 levels by 3.5%, the global footwear market saw slightly stronger growth of 3.3% in 2023. While this increase was bolstered by rising prices amid high inflation, the market was also supported by the popularity of trainers, as consumers remained concerned about their health and wellbeing and prioritized the value for money of their purchases. The total market is now anticipated to grow at a CAGR of 5.6% between 2023 and 2027, and this will be driven by Asia Pacific, which will see its share of the total market rise by 2.4ppts to 38.7%, as its increasing urbanization and young population leads to greater spending. The US is expected to be the poorest performing region within this forecast period, with its share falling by 1.4ppts to 33.0%, as high inflation causes consumers to cut back on non-essential purchases, and because its more established nature gives it less scope to grow.

Scope

• Global footwear market to grow at a CAGR of 5.6% between 2023 and 2027, with trainers and Asia Pacific expected to outperform.
• Technological innovation will allow the online footwear market to outperform out to 2027.
• Nike leads the way within the footwear market, while Converse and Vans continue to see their market shares fall.

Reasons to Buy

• Gain a comprehensive view of the global footwear market and forecasts to 2027
• Explore new opportunities that will allow you to align your product offerings and strategies to meet demand
• Investigate current and forecast trends in the footwear categories to identify the areas offering the most potential
• Understand who your main competitors are in the sector