Looking at the present scenario, the global sales of footwear market is evidently on a rise, fueled progressively by developing consumer preferences as well as prevailing fashion styles. Furthermore, both the genders are equally inclined to purchase stylish footwear, which is acting as a major booster for the footwear market across developing and developed economies. In order to get fair insight about the global footwear market, Fact.MR has published a new study titled “Footwear Market Forecast, Trend Analysis & Competition Tracking: Global Market insights 2017 to 2022“, which has been posted on its wide online portal. This report is a precise compilation of research data that focuses on market size (US$ Mn), Y-o-Y growth along with different market aspects such as cost structure, supply chain and market dynamics including drivers, restraints and opportunities.
According to research outcomes, the demand for a variety of new styles in shoes, particularly for women, has been supporting the lucrativeness of the footwear market. It has been recorded that large favorable avenues in the global footwear market are motivating growth expected at CAGR of 4.5% during the forecast period, 2017–2022. In addition, the footwear market is anticipated to acquire value at US$450 billion by 2022-end.
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The report highlights that footwear designers and manufacturers across the globe are constantly focusing on improving design, comfort and applicative nature of their products. Hence, there is a notable emergence of new demographic segments across the global footwear market. This Fact.MR study quite diligently focuses on essential market aspects such as geographical revenue share, product preference and others. Below mentioned are the major developments which are specifically discoursed in this report:
- Considering the various product types, footwear designated for casual and occupational purposes are possibly growing as lucrative segments. It is analyzed that, this segment is expected to acquire over a fifth of revenue across the overall footwear market. Furthermore, the development of fresh designs of casual footwear are likely to allure teenagers.
- The APEJ market for footwear is gaining high-end prominence and it projected to benefit further due to changing fashion norms. This report enlightens the readers with precise statistics, that is, 33% revenue share for fashion footwear attained by the APEJ market. Interestingly, the specific regional footwear market is likely to retain its supremacy in the coming years as well.
- However, footwear market in Europe is evolving at a higher pace as compared to APEJ. This prompt growth is attributed to the surging demand for budget footwear choices. It has been mentioned that Europe is expected to expand at 5.9% CAGR from 2017 to 2022.
- The comfort provided by online or e-commerce channels to lure customers has increased over the past few years. It holds great potential for manufacturers as well as designers to reach out to a massive global population through the internet. In addition, favorable product return along with exchange policies declared by these sites are motivating the footwear market quite pleasingly.
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Key Segments of Footwear Market
· Product Type
- Natural Rubber
- Synthetic Rubber
· Sales Channel
- General Merchandise
- Department Stores
- North America (U.S. & Canada)
- Latin America (Mexico, Brazil, Argentina, & Rest of LATAM)
- Europe (Germany, U.K., France, Italy, Spain, Nordic, & Rest of Europe)
- Middle East and Africa (GCC Countries, Nigeria, Israel, South Africa, & Rest of MEA)
- Asia Pacific excluding Japan (China, India, Malaysia, Thailand, Singapore, Australia, & Rest of APEJ)
Finally, the report presents in-depth visions relating to the competitive landscape prevailing across the global football market. To be precise, the study sheds light on the level of competition active among key players in the footwear market. Some of the leading companies mentioned in the report are Nike, PUMA, Adidas, Under Armor, ALDO group, Crocs, Deichmann SE and ASICS Corporation.
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