Footwear

Footwear Market – Global Industry Insights, Trends,
Outlook and Opportunity Analysis, 2018-2026
Footwear is one of the essential commodities and is used by every human
nowadays. Its main purpose is to protect the feet against environmental adversities,
ground temperature, and prevent the feet from injuries. Footwear is used by
individuals of all age group and gender. The rise in demand for trendy, fancy, and
comfortable footwear is further driving the market share of global footwear industry.
Furthermore, increasing health concerns, indoor and outdoor activities, increasing
fashion conscious population,, and rising retail culture has further led to the growth of
footwear market.
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Over the past few decades, the global footwear market has witnessed a significant
growth and is anticipated to continue at the same pace in the forecast period.
However, the market players are focusing on expanding the growth by the use of
e-commerce (online platforms), which has gained popularity amongst the youth,
thereby, occupying a significant share among all distribution channels.
Athletic type of footwear has witnessed a burgeoning growth in the footwear market
owing to the increase in popularity of sports like football, cricket, hockey, and tennis,
among others. It has enabled various opportunities for companies to manufacture
newer footwear products.
Premium products such as leather footwear from the footwear material section, has
occupying a significant market growth in the forecast period.
Global Footwear Market Outlook
Asia Pacific is accounted as the largest market for footwear, due to the highest
population base, low cost labor, and large pool of skilled professionals. China holds
the largest production of footwear market followed by India, ASEAN, and others, and
have further enhanced the growth of footwear market in the region.
North America is projected to witness a significant growth rate and is an important
region in terms of revenue generation in the global footwear market. Owing to the
change in lifestyle, increasing interest in athletic footwear, proliferating in number of
sales channel, and prominent increase in internet retailing has added to the growth
of the footwear market in this region.
European footwear products are very well known for their style and quality. The
footwear production in Europe is concentrated in the countries such as Spain, Italy,
and Portugal, among others. However, the number of footwear manufactures in
Europe has taken a downward path in the past few decades due to the economies
with low labor cost such as China and India has attracted the footwear market.
The major players are adopting various organic and inorganic growth strategies. For
instance, in April 2015, a lightweight football shoe featuring Japanese dragon
graphics was launched by PUMA for soccer lovers. The launch further helped the
company to manufacture and attract more customers for football shoes.
In 2014, Adidas collaborated with Manchester United for the promotion of its brand
among the football teams.
Fragmented Market
Footwear market is dominated by various companies include Nike Inc., Crocs,
Timberland Company, Genesco Inc., Wolverine worldwide Inc., Adidas, Fila,
K-swiss, Air Jordans, Converse, Vans, Ecco, Skechers, Rebook, and Gucci.
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Footwear is one of the essential commodities and is used by every human nowadays. Its main purpose is to protect the feet against environmental adversities, ground temperature, and prevent the feet from injuries.

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