Footwear Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2029
In recent years, the footwear industry has been witnessing vibrant growth. The growth rate is attributed to rising demand for activity specific shoes. For example, shoes used by athletes are specifically designed when compared to shoes used for official purpose. Further, athletic shoes also have subcategories.
The footwear market has been witnessing demand for trendy, fancy, durable, and comfortable footwear from every age group.
Moreover, rising concerns pertaining to health are entailing people to indulge in some kind of physical activity. This, in turn, is pushing demand for different types of athletic shoes. For example, running shoes offer comfort for running while sports shoes provide required grip.
These factors, conjointly, are pushing the horizon of footwear market.
Among all shoes category, leather footwear is considered as premium product. The segment usually occupies substantial share in the global footwear market.
The upcoming reports provides comprehensive details about key factors driving the growth of the global footwear industry market. It includes details of various segments and drivers likely to boost market in the tenure of forecast period (2019-2029). Further, factors which may restrain market growth are also discussed in the report.
Recently, launch of smart shoes is bringing remarkable change in the entire footwear market. Advanced technology and software are integrated in shoes to perform various functions. In addition, these shoes can also be connected to smartphones and tablets. These technologies enable to monitor performance of athletes and on-field players, track activities, and keep record of the performance statistics.
Further, the data collected can be used by coaches to plan specific exercise and fitness regimes for athletes.
Smart shoes also have integrated GPS. It is one of the key factors helping smart shoes to gain popularity in geriatric population and physically challenged people. The navigation and positioning shoes alerts the user about obstacles on the way.
Advantages offered by smart shoes are likely to contribute to expansion of footwear market during the given forecast period.
Some of the major companies involved in manufacturing of footwear are-
Broadly, the footwear industry is bifurcated into athlete and non-athlete segments. Athlete segment is further divided into numerous categories such as running shoes, court shoes, cross-training shoes, cleats, and hiking shoes. The sale of shoes is anticipated to increase due to rising awareness about health, fitness trend, and growing sports participation rate.
The non-athletic footwear segment include fashion, casual, and formal footwear. Growth of the segment is attributed to growing fashion sense among people.
Further, demand for designer and limited footwear edition is also influencing growth of the footwear industry market. Consumers are ready to pay for premium collection of shoes as these are made of high-quality materials. These footwear are launched under exclusive designer labels, and are displayed via trade exhibitions and fashion shows.
Such footwear is expected to contribute substantially to growth rate of global footwear market during forecast period.
Asia Pacific is anticipated to be a large footwear industry market in the forecast period. This is due to rising disposable income of people, preference for premium products, and rising awareness about health and fitness. Presence of various key players are adding to the growth of footwear market in the region.
The study presents a granular assessment and quantitative evaluation of:
The region-wise assessment includes market dynamics in:
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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