Footwear aid in covering and protecting the foot from ground textures, temperatures, and gravel roads. Footwear are made up of different materials such as leather, plastic, rubber, and fabric. Leather is one of the prominent materials used for the first version of a footwear. Companies such as like Nike are using eco-friendly raw materials such as recycled car tires, recycled carpet padding, organic cotton, and vegetable-dyed leathers for manufacturing footwear products.
Moreover, rise in number of working professionals has increased the overall demand for formal shoes and casual shoes. In addition, increase in fashion consciousness and changing tastes of women have boosted the demand for nonathletic footwear market. The nonathletic footwear market is dominated by the presence of a wide range of footwear encompassing sandals, heels, and wedges. Rise in demand among children for a wide variety of footwear, including flip-flops, sandals, and boots augments the growth of the global market. In addition, increase in number of working professionals paired along with rise in fashion consciousness and need to look stylish & trendy fuelled the overall growth of the nonathletic footwear market. However, high prices and rise in popularity of footwear brands such as Nike, Adidas, and Puma have led to the advent of counterfeit brands. Counterfeit brands are usually available in developing economies where customers are highly price-sensitive. This factor hampers the sale of the existing original footwear brands in these economies.
Increase in penetration of various online portals in developing regions and rise in number of offers or discounts attract consumers to purchase footwear through online channels. Moreover, online sales channel increased the 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. Increase in e-commerce sales, improvements in logistics services, ease in payment options, and the facility to enter in new international markets for major brands further augment the growth of the footwear market.
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The global footwear market is segmented into type, material, end users, distribution channel, and region. By type, the market is categorized into athletic and nonathletic. Depending on material, it is bifurcated into leather and non-leather. On the basis of distribution channel, it is classified into hypermarket/supermarket, specialty stores, brand outlets, online sales channels and others. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the footwear include Adidas AG (Adidas), Nike, Inc. (Nike), PUMA SE (KERING), 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 STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the footwear market analysis from 2019 to 2027 to identify the prevailing market opportunities.
- The key countries in all the major regions are mapped on the basis of market share.
- The market forecast 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 market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global industry.
- 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 industry trends, key players, market segments, application areas, and market growth strategies.
KEY MARKET SEGMENTS
- By type
o Athletic
o Non-athletic
- By material
o Leather
o Non-leather
- By end users
o Men
o Women
o Children
- By distribution Channel
o Hypermarkets/Supermarkets
o Specialty Stores
o Brand Outlets
o Online Sales Channel
o Others
By Region
o North America
? U.S.
? Canada
? Mexico
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o Europe
? UK
? Germany
? France
? Italy
? Spain
? Rest of Europe
o Asia-Pacific
? China
? Japan
? India
? Australia & New Zealand
? ASEAN
? Rest of Asia-pacific
o LAMEA
? Latin America
? Middle East
? Africa
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