Footwear Market Analysis Report By Type, By End User, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The footwear market accounted for USD 207.6 billion, in 2018. It is expected to register a CAGR of 3.8% from, 2019 to 2025. The growth of the market can be attributed to the increasing demand for comfortable footwear to protect the feet. Also, the convenience and fashion of trending footwear are expected to boost the market growth in the upcoming years.

Premium footwear such as leather shoes also occupies a significant market share globally. The emergence of the e-commerce sector during the last few years is also expected to boost the sales of footwear. This has become possible due to ease of shopping, doorstep delivery, and hassle-free return policy. Also comparing various products as per the brand has become easier with the use of such portals.

Key players in these segments such as Skechers USA Inc.; Adidas America Inc. and Nike Inc. are focusing on the sale through the e-commerce platform to penetrate the emerging markets. Also, they are using social media platforms such as Facebook and Twitter to create brand awareness. The region of Asia Pacific has the major market share and is anticipated to be the fastest-growing market during the forecasted years.

Footwear industry growth is anticipated to increase the number of manufacturers. Countries like India, China, and Vietnam are the major manufacturing hubs for the industry. Low labor cost, skilled workforce, and availability of land at a cheaper price are expected to increase the number of new entrants in this market. Thus, the market for the Asia Pacific is anticipated to grow at a faster pace during the forecasted period.

Type Insights

The market can be segmented into Athletic and Non-athletic based on type. Owing to the rise in the awareness about personal health and wellbeing, the market for the athletic segment is expected to register the highest CAGR of 4.4% from, 2019 to 2025. Also, the increase in the popularity of the events like Olympics, FIFA, and Commonwealth games is expected to have a positive impact on the growth of the market. The key players are also launching various sport-specific products to boost their sales. For Instance, Nike has launched lightweight sports shoes under the name of Max Air.

The non-athletic segment has the largest share in the market owing to the availability of a larger variety of products such as sandals, floaters, flip flops, brogues, and printed shoes. Also, some of the manufacturers like Simply Feet have started launching customized footwear. As the demand for such type is increasing, the market is expected to boost during the forecasted period.

End-User Insights

The market can be segmented into men, women, and children based on the end-user type. The segment for men has the largest share and is expected to continue its growth during the forecast period. The major factor contributing to this growth is the rising trend to spend more on apparel and fashion in order to look presentable.

The segment for women is projected to have a higher CAGR of 4.3% from 2019 to 2025 due to an increase in the working population and fashion trends prevalent among women. Also, the increase in disposable income and the rise in the living standard is expected to boost the market growth. 

Regional Insights

Asia Pacific holds the largest market share, in 2018 and is also anticipated to grow at the largest CAGR during the forecasted years. This has become popular due to the increasing population and demand across countries like China, India, and Japan. As most of the manufacturers are setting their base in these regions, this is expected to boost the market in the region. Europe holds the second largest market share owing to the increase in purchasing power and willingness to spend more in order to look presentable.

Footwear Market Share Insights

The major players in this market are PUMA; Nike Inc.; Crocs, Inc.; Timberland, etc. These players are investing more in R&Ds in order to develop new products to increase their market share.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global footwear market report based on type, end-user, and region:

• Type Outlook (Revenue, USD Billion, 2015 - 2025)
    • Athletic
    • Non-athletic

• End-user Outlook (Revenue, USD Billion, 2015 - 2025)
    • Women
    • Men
    • Children

• Regional Outlook (Revenue, USD Billion, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • U.K.
    • the Asia Pacific
        • China
        • India
    • Central & South America
        • Brazil
    • Middle East & Africa