Footwear Market Size, Share, Growth Report 2030

The global Footwear Market, which was estimated at 270 (USD Billion) in 2019 and is predicted to accrue earnings worth 375 (USD Billion) by 2026, is set to record a CAGR of nearly 4.5% over 2020-2026. The report offers valuation and analysis of Footwear Market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on value (USD Billion).

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Introduction

Footwear is produced of various materials including leather, fabric, plastic, and rubber. Moreover, leather is widely used footwear across the globe.  Today, there is massive need of convenient footwear. Rise in the fashion trends among the youth has contributed immensely towards the growth of the footwear business across the growth in the recent years. With brands like PUMA, Lee Cooper, and Adidas making large impact across the eCommerce industry, the market for footwear is anticipated to gain traction over the forthcoming years. Hassle-free shopping activities have enhanced the online supply chain sector growth and this in turn will create lucrative growth avenues for the market over the estimated timespan. With growing trends of online selling and online retailing activities due to surge in online retail stores like Amazon, Flipkart, and eBay, the market for footwear is anticipated to gain traction over the ensuing years.

Market Growth Dynamics

Effective word of mouth communication, buzz building activities carried out the manufacturers, and opinion leadership hold a key to the sale of consumer goods across the globe. Footwear being one of the consumer goods is not exception to this. Apart from this, massive spending of the firms on promotional, branding, and marketing activities will culminate into huge growth avenues for the footwear market over the coming years. Additionally, changing fashion trends and altering color preferences will further add towards the global market revenue over the forecasting years.

Furthermore, a prominent rise in the sports activities like football, table tennis, tennis, hockey, basketball, hockey, and athletics as well as surge in the fan following has resulted in massive expansion of the footwear industry in the recent years. Apart from this, children and teenagers are involved in various sports & fitness activities and baby boomer population are involved in physical activities like jogging to remain fit & healthy. This, in turn, will propel the demand for the footwear in the coming years. In addition to this, rise in the health awareness among the senior citizens resulting in morning walks or visit to gardens for physical activities or visit to laughing clubs & jogging will further increase the product penetration globally over the ensuing years.  With online purchase becoming a buzzword, the demand for footwear is projected to upsurge within the next couple of years.

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North America To Dominate Overall Market Growth Over 2020-2026

The growth of the industry in North America over the forecast timespan is due to rise in awareness among the inhabitants about health & fitness activities like Jogging and morning walk. Apart from this, reputed shoe manufacturers have their headquarters as well as production units in the states of the U.S and this will further proliferate the market scope in the sub-continent in the years ahead.

Key players favorably leveraging the market expansion include New Balance Inc., Puma SE, Adidas AG, Asics Corporation, Nike Inc., and Bata Ltd. 

Global Footwear Market: Report Scope:

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The global footwear market is segmented as follows:

By Product

• Athletic Footwear
  • Running and Cross Training Shoes
  • Soccer/Football Shoes
  • Hiking Shoes
  • Others
• Non-Athletic Footwear
  • Casual Footwear
  • Military Boots
  • Others

 By Material

• Rubber
• Leather
• Plastic
• Others

By End-User

• Men
• Women
• Kids

By Distribution Channel

• Online Sales
• Supermarkets and Hypermarkets
• Independent Retail Stores
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa