Footwear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Footwear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global footwear market size reached US$ 234.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 314.2 Billion by 2028, exhibiting a growth rate (CAGR) of 3.9% during 2023-2028.

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 report, along with forecasts at the global and regional level from 2023-2028. 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.

Key Questions Answered in This Report

1. What was the size of the global footwear market in 2022?
2. What is the expected growth rate of the global footwear market during 2023-2028?
3. What are the key factors driving the global footwear market?
4. What has been the impact of COVID-19 on the global footwear market?
5. What is the breakup of the global footwear market based on the product?
6. What is the breakup of the global footwear market based on the material?
7. What is the breakup of the global footwear market based on the distribution channel?
8. What is the breakup of the global footwear market based on the pricing?
9. What is the breakup of the global footwear market based on the end-user?
10. What are the key regions in the global footwear market?
11. Who are the key players/companies in the global footwear market?