Global Footwear Market is set to record a CAGR of nearly 4.5% over 2020-2026

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Report Overview

The labor-intensive footwear business is influenced by a number of variables, including the availability of land, the cost of labour, the availability of materials, environmental protection, and the sales markets. Global shoe manufacturing bases are constantly shifting as a result of key consumer markets, footwear manufacturers, distributors, and retailers transferring their focus to lower-cost nations in an effort to maximise profits. The markets for footwear in Japan, Taiwan, India, and China are profitable.

The size of the global footwear market was assessed at 270 (USD Billion) in 2019, and from 2022 to 2030, it is anticipated to increase at a compound annual growth rate (CAGR) of 4.5%. The main drivers of the market’s growth are the expanding sales made possible by e-commerce, heavy investment in advertising by footwear brands, and increased demand for sports footwear. Additionally, the prevalence of lifestyle-related health problems including stress and obesity is driving more individuals to participate in sports and fitness activities, which is driving up demand for fashionable and comfortable footwear. Consumers began to prioritise comfort long before 2020. Fashion footwear has been losing market share to more cosy and athleisure-focused segments for many years.

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Sorting insights

During the forecast period, the sporty segment’s CAGR will be the fastest. People that engage in outdoor activities including running, walking, working out, and playing sports like basketball, volleyball, cricket, hockey, and golf wear athletic shoes. Athletic shoes offer advantages including torsional stability, improved cushioning, and better protection to users in addition to comfort, flexibility, and grip on outdoor surfaces like roads and trails. The expansion of the athletic category is being driven by professional players’ need for comfortable, light-weight, and stylish sports shoes for use on muddy, soft, and uneven terrain. The main reason fueling the global expansion of athletic shoes is the rising participation and propensity of individuals toward everyday physical activities including running, working out in the gym, and cycling.

Consumer insights

In the end-user category of the footwear market, men made up the majority. The demand for men’s footwear has been driven by men’s propensity for outdoor activities. Golf, cricket, hockey, and trekking have all historically been popular sports among males. Therefore, new launches that target certain sports categories will aid in accelerating the growth of the men’s footwear industry. Future expansion in the men’s footwear market is anticipated to be fueled by the emergence of high-end e-commerce sites.

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Key Organizations & Market Share Information

The existence of multiple well-known players is what defines the global footwear market. Small-to-midsized companies with a narrow selection of shoes compete in the market. Businesses in the market are concentrating on partnerships to produce innovative products in order to satisfy the changing needs of customers and to get a competitive advantage over other manufacturers. For illustration:

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By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Report Overview The labor-intensive footwear business is influenced by a number of variables, including the availability of land, the cost of labour, the availability of materials, environmental protection, and the sales markets. Global shoe manufacturing bases are constantly shifting as a result of key consumer markets, footwear manufacturers, distributors, and retailers transferring their focus to…

Report Overview The labor-intensive footwear business is influenced by a number of variables, including the availability of land, the cost of labour, the availability of materials, environmental protection, and the sales markets. Global shoe manufacturing bases are constantly shifting as a result of key consumer markets, footwear manufacturers, distributors, and retailers transferring their focus to…

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