Footwear Market: Introduction
Transparency Market Research delivers key insights on the global footwear market. In terms of revenue, the global footwear market is estimated to expand at a CAGR of ~8% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global footwear market.
The global footwear market is broadly affected by several factors. Footwear has gained immense popularity in sportswear due to increasing sports activity, emphasis on performance, and advancements in technology, which are factors expected to boost the global footwear market during the forecast period.
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Footwear Market: Key Segments
The global market for footwear has been segmented based on type, usage type, material type, price, end user, distribution channel, and region. Based on type, the market has been divided into sports shoes & bellies shoes, boots, sandals, and others, wherein, sports shoes & bellies shoes is projected to be a highly lucrative segment across the globe from 2018 to 2030, due to rising participation in sports. Additionally, bellies have become one of the trendiest casual wear footwear options, especially among youngsters. Worldwide growth in security, military, corporate, and institution sectors is likely to promote the expansion of the footwear market in terms of boots. The influx of new and innovative designs coupled with increasing consumer awareness about trendy and fashionable lifestyles are major factors fueling the growth of the footwear market. In terms of usage type, the footwear market has been divided into athletic and non-athletic. The athletic footwear market is driven by rising demand for comfortable footwear with new styles and innovative designs. Moreover, increasing participation of users in high profile sporting events has resulted in extensive usage of athletic shoes.
Based on material type, the global market for footwear has been segregated into leather, textiles, and other synthetics. Textile is a major material in several types of athletic and non-athletic footwear. These are widely preferred by consumers, as they are found to be light, flexible, and durable and offer resistance against slippery surfaces. In terms of price, the global footwear market has been bifurcated into mass and premium. The end user segment of the market has been split into men, women, and kids. Men’s footwear segment is expected to witness dynamic growth during the forecast period. Men have taken to changing styles often, and they prefer casual alternatives in terms of footwear such as colored footwear or more comfortable athletic footwear that can be worn, along with a suit. Based on distribution channel, the market has been divided into online and offline. Rapid advancements in the field of technology and the advent of high-speed Internet services such as 4G and 5G have contributed to the growth of the online segment of the footwear market. Furthermore, major manufacturers operating in this industry are opting to sell through online platforms due to the emergence of several eCommerce companies in order to attain a broader consumer base, as it helps them to promote their products with large discounts and offers to attract consumers.
Footwear Market: Key Players
Key players operating in the global footwear market are Adidas AG, Bata Corporation, BOSS GLOVES, Converse, Crocs Inc., FILA Luxembourg, S.a.r.l, New Balance, Inc., Nike, Inc., PUMA SE, and Sketchers USA Inc.
Global Footwear Market: Segmentation
Footwear Market, by Type
- Sports Shoes & Bellies Shoes
- Boots
- Sandals
- Others
Footwear Market, by Usage Type
- Athletic
- Running & Cross Training/Tennis Shoe
- Soccer/Football Shoe
- Golf Shoe
- Basketball Shoe
- Hiking Shoe
- Baseball Shoe
- Others
- Non-athletic
- Casual Shoes
- Dress Evening
- Military Boots
- Lite Hiking Outdoor Sandal
- Formals
- Others
Footwear Market, by Material Type
- Leather
- Textiles
- Other Synthetics
Footwear Market, by Price
- Mass
- Premium
Footwear Market, by End User
- Men
- Women
- Kids
Footwear Market, by Distribution Channel
- Online
- Company Website
- eCommerce Website
- Offline
- Hypermarket & Supermarket
- Specialty Stores
- Departmental Stores
- Others
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