North America Footwear Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

North America Footwear Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The North America Footwear Market size is estimated at USD 116.47 billion in 2024, and is expected to reach USD 142.95 billion by 2029, growing at a CAGR of 4.18% during the forecast period (2024-2029).

Fashion plays a significant role in driving consumer demand for footwear in the region. Innovative designs, colors, and styles influence consumer purchasing decisions, with individuals often seeking shoes that align with the latest fashion trends. Therefore, prominent brands focus on expansions and partnerships to meet consumer demand for trendy footwear. For instance, in September 2023, Lifestyle brand Tokidoki and American footwear company Skechers partnered for a global footwear collaboration. The Skechers x Tokidoki line features an all-star cast of colorful characters from the Tokidoki universe and its iconic heart and crossbones logo across a range of Skechers fashion sneakers for women, including Skechers Uno. Additionally, as more people engage in various sports activities, there is a continuous demand for performance-oriented athletic shoes that offer comfort, support, and durability. For instance, according to the Sports and Fitness Industry Association (SFIA), the share of the United States population participating in outdoor sports increased from 50.7% in 2019 to 55% in 2022. Furthermore, the rise of e-commerce and online shopping platforms transformed the retail landscape for the footwear industry. Consumers are observed to increasingly rely on online channels to research, compare, and purchase products, driving growth in the online footwear market in the North American region.

North America Footwear Market Trends

Increased Participation In Recreational And Outdoor Activities

In recent years, participation in recreational and outdoor activities has significantly increased in the region, primarily due to rising health concerns and various government initiatives toward promoting an active lifestyle among individuals. For instance, according to the Outdoor Industry Association, outdoor recreation participation of consumers in the United States significantly increased in 2022. The report stated that about 80% of the participants had participated in various outdoor activities like mountain camping and sports climbing. It further noted that about 881,000 people in the United States started trekking and hiking in 2022 alone. This increase in the number of participants in physical activities acts as a prime factor for the sales of athletic footwear optimized for specific activities and environments. Moreover, manufacturers innovate with materials, designs, and functionalities to satisfy consumers' preferences. For instance, in February 2024, Wolverine and Red Bull Scramble Series launched a limited-edition collection of boots, including the Rush UltraSpring Boot. The boots are designed with UltraSpring technology to provide cushioning for off-road use and feature motorsport-inspired elements. They have full-grain leather and a breathable membrane to wick away moisture.

The United States Is The Biggest Consumer Market For Footwear

The United States is one of the most prominent markets for footwear owing to its highly evolved retail landscape and increased participation of individuals in sports and outdoor activities. Besides this, increased consumer spending on athletic footwear as a fashion statement due to the athleisure trend contributes to the market growth. Moreover, manufacturers target younger demographics, such as Gen Z, who emphasize uniqueness and personal style and constitute an important consumer segment, through various product launches. For instance, in April 2022, Nike released new golf shoes to prepare for The Masters, including the TW’ 14, Lunar Control, and Lunar Clayton shoes. All three models feature premium white uppers with various color design details, including the outsole, lacing eyelets, and Swoosh. Besides, footwear incorporating enhanced performance, comfort, and customization is gaining popularity in the country. For instance, in September 2023, Adidas launched new designs for its most popular 3D-printed shoe line. This Adidas 4D series features a 3D-printed midsole from a printer and the US-based material maker Carbon.

North America Footwear Industry Overview

The North American footwear market is competitive, with several regional and global players competing for market share. Some prominent players in the market include Nike Inc., Adidas Group, Skechers USA Inc., Deckers Outdoor Corporation, and VF Corporation. The players are indulging in strategies, such as mergers and acquisitions, expansions, and partnerships, to establish a solid consumer base and esteemed position in the market. They also rely on product innovation, the most preferred strategy by companies to differentiate themselves from competitors.

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