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Footwear market-global market forecast to 2024 explored in latest research

Footwear market-global market forecast to 2024 explored in latest research

Footwear is a garment worn on feet and serves the purpose of safeguarding against environment difficulties such as ground textures and temperature.

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Introduction

Footwear mainly serves the purpose to ease the locomotion and avoid foil injuries.

Secondly footwear can also be used for custom and beautification as well as to show the status/rank of the person within a social structure. Socks and other hosiery are usually worn additionally between the feet and other footwear for further luxury and relief.

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Market Dynamics

The Global Footwear Market Make an Inquiry about this news is witnessing lucrative growth, owing to the growing demand for elegant, fashionable yet comfortable footwear among all ages. Furthermore, growing health awareness is impelling individuals to accomplish outdoor and indoor physical activities; thus this trend has created high demand for athletic footwear, which in turn, will boost the demand for footwear.

Moreover, with the increasing prevalence of diabetes worldwide, it is expected that the market for athletic footwear will increase. Over the decade, the market for footwear has experienced lucrative growth and is expected to continue at the same pace in near future.

Market Classification and Overview

The global footwear market is segmented by type, mode of sale, material, end-user and geography. On the basis of type, the global footwear market is segmented into athletic footwear and non-athletic footwear.

The demand for athletic footwear is growing among individuals owing to the increase in health awareness. Furthermore, increase in the number of working professionals and changing lifestyle is generating demand for non-athletic footwear market.

On the basis of mode of sale, the global footwear market can be segmented into online sale and retail sale. Retail sale offer a greater purchasing experience to the customer as compared to online sale, hence dominates the mode of sale segment.

Moreover, growing preference of consumers towards e-commerce is expected to drive the sales through online. On the basis of material, the global footwear market can be segmented into leather and non-leather, where leather footwear dominates the market.

On  the basis of end-users, the global footwear market can be segmented into men, women, and children.

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Regional Overview

In terms of geography, the global footwear market can be divided into North America, Latin America, Europe, Asia-Pacific and Middle East & Africa (MEA). Asia-Pacific dominates the global footwear market and generated highest revenue in 2014.

In Asia-Pacific, China is the largest manufacturer as well as largest consumer and exporter in the region. Globally, China and India are the largest producers of footwear.

The Asian countries mostly export their products to United Kingdom and United States. China dominates the footwear production worldwide.

Owing to changing lifestyle among individuals, non-athletic footwear segment is witnessing increased demand. In china, domestic footwear manufacturer dominates the market.

North America is the second largest footwear market owing to the local populace actively contributing in sports and athletic activities. Since, the North America is forerunner in many innovations; the region is witnessing rapid development in design and quality of footwear.

Furthermore, e-commerce business has been demonstrating robust growth in the region, particularly in Canada and the US. This has assisted sellers of footwear to gain a wider reach and healthier visibility in the region.

Report Coverage

Market Global Footwear Market
Analysis Period 2014 – 2024
Historic Data 2014 – 2015
Base Year 2016
Forecast Data 2017 – 2024
Market Stratification Type, Mode of Sale, Material, End-User, Geography
Regional Scope North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)
Report Coverage Market Trends, Drivers, Restraints, Porter’s Five Forces Analysis, Competitive Analysis,

Player Profiling, Value Chain Analysis


Market Participants

Some of the key players operating in footwear market include Nike Inc., Adidas AG, Bata Limited, Puma SE, New Balance Inc., Deichmann SE, Skechers USA, Inc., New Balance Inc., Asics Corp. among others.

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Market Segmentation

Market By Type

  • Athletic footwear
  • Non-athletic footwear

Market By Mode of Sale

  • Online sale
  • Retail sale

Market By Material

  • Leather
  • Non-leather

Market By End-User

  • Men
  • Women
  • Children

Market By Geography

  • North America

o   US

o   Canada

o   Mexico

  • Europe

o   UK

o   Germany

o   France

o   Rest of Europe

  • Asia-Pacific

o   China

o   Japan

o   India

o   Australia

o   Rest of Asia-Pacific

  • Latin America

o   Brazil

o   Chile

o   Rest of Latin America

  • Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA

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