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.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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