Footwear Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2029

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Footwear Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2029

Status : February, 2022 | Consumer Goods

Report Digest

Footwear Market: Overview

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.

Footwear Market: Notable Developments

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-

  • Crocs Retail Inc.
  • Timberland
  • Adidas America Inc.
  • Nike Inc.
  • Skechers USA
  • Wolverine World Wide Inc.
  • PUMA
  • Ecco Sko A/S
  • Under Armour Inc.
  • Geox S.p.A.

Footwear Market: Key Trends

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.

Footwear Market: Regional Analysis

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 reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?