Footwear Market Growth, Outlook, Demand, Keyplayer Analysis and Opportunity 2022-2027

Author: Elena Anderson

Marketing Manager

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Global Footwear Market Research Report 2022-2027:

According to the latest report by IMARC Group, titled " Footwear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-202 7

," the global footwear market size reached a value of US$ 224.6 Billion in 2021.

Footwear refers to articles worn on the feet for the purpose of fashion, adornment, hygiene, or providing protection against adversities of the environment, including temperature and ground textures. It consists of a flexible upper layer made of leather, jute, fabric, plastic, rubber, and other synthetic materials with a soft sole and heel to support the weight of the wearer. Their use offers enhanced convenience and comfort, and eases locomotion, thereby preventing major injuries. As a part of the clothing and apparel industry, footwear is comprised of shoes, athletic sneakers, sports shoes, luxury footwear, and other related goods that are commercially available in diverse patterns, colors, and advanced technical fabrications. We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global Footwear Market Trends:

The increasing demand for superior quality footwear with enhanced convenience and comfort are majorly driving the market growth across the globe. This is further supported by rising health concerns, which has prompted manufacturers to launch sports-focused footwear, such as football, cricket, basketball, and golf. In line with this, exponential investments by governments of various nations and global organizations to promote brands in sports leagues and participation, including Formula 1 (F1) car racing, Olympics, and the FIFA world cup, are also catalyzing the market growth.

Moreover, key players are considerably investing in research and development (R&D) activities to introduce innovative product variants, such as eco-friendly footwear manufactured using sustainable materials and smart shoes consisting of pressure sensors to facilitate easy functioning of self-lacing, which is acting as another major growth-inducing factor. Besides this, the proliferation of smart phones, easy internet connectivity, and an increasing number of e-commerce platforms have enabled companies to offer enhanced convenience to users via flexible payment methods, easy return or exchange policies, and monetary benefits, which, in turn, is propelling the global sales of footwear. Furthermore, major brands, such as Lee Cooper, Adidas America, and PUMA, are strengthening their market presence by engaging consumers through social media platforms and adopting influencer culture, which is positively influencing the market growth.

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Looking forward, the market is expected to grow at a CAGR of 4% during 2022-2027. View Report

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Key Market Segmentation

The research report includes the following segments:

Breakup by Product:

• Non-Athletic Footwear

• Athletic Footwear

Breakup by Material:

• Rubber

• Leather

• Plastic

• Fabric

• Others

Breakup by End-User:

• Men

• Women

• Kids

Breakup by Distribution Channel:

• Footwear Specialists

• Supermarkets and Hypermarkets

• Departmental Stores

• Clothing Stores

• Online Sales

• Others

Breakup by Pricing:

• Premium

• Mass

Breakup by Region:

• North America

• Asia Pacific

• Europe

• Latin America

• Middle East and Africa

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Competitive Landscape with Key Players:

• Nike Incorporation

• Adidas AG

• PUMA

• Geox S.p.A

• Skechers USA

• Incorporation

• Timberland

• Crocs Retail

• Inc.

• Ecco Sko A/S

• Wolverine World Wide

• Inc.

• Under Armour Inc.

1. What was the size of the global footwear market in 2021?

2. What is the expected growth rate of the global footwear market during 2022-2027?

3. What are the key factors driving the global footwear market?

4. What has been the impact of COVID-19 on the global footwear market?

5. What is the breakup of the global footwear market based on the product?

6. What is the breakup of the global footwear market based on the material?

7. What is the breakup of the global footwear market based on the distribution channel?

8. What is the breakup of the global footwear market based on the pricing?

9. What is the breakup of the global footwear market based on the end-user?

10. What are the key regions in the global footwear market?

11. Who are the key players/companies in the global footwear market?

Click here to visit the complete table of content with list of figures and tables: https://www.imarcgroup.com/footwear-market/toc

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