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Data Bridge Market Research analyses that the footwear market in global is expected to reach the value of USD 626,164.40 million by 2030, at a CAGR of 5.8% during the forecast period. “Sandals/flip-flops" accounts for the most used segment in the footwear market due to mostly prefer to wear indoors, on holidays and gym and can be worn with shorts, trousers, chinos, semi-formals, or any outfits you wear except with formals as long as you feel comfortable, is anticipated to boost the segment's growth.
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Market Overview:
The footwear market industry is concerned with the design, production and distribution and supply of shoes. The raw material may be natural or synthetic, which may be using products of the chemical industry. The footwear industries contribute significantly to the national economy of many countries.
The Fast-Moving Consumer Goods (FMCG) industry is a sector focused on the production, distribution, and marketing of everyday consumer products that are sold quickly and at relatively low cost.
Some of the major players operating in the global footwear market are Crocs Retail, LLC, Adidas, SKECHERS USA, Inc., Nike, Inc., Okabashi., Bata Corporation, GEOX s.p.a, PUMA, Under Armour®, Inc., Wolverine World Wide, Inc., ASICS Corporation., ALDO GROUP, Relaxo Footwears Limited., KERING, VF Corporation, Deichmann SE, FILA Holdings Corp., New Balance, ECCO Sko A/S, Burberry among others.
Global Footwear Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail below:
Drivers
Rising demand for convenient, comfortable and fancy footwear
Shoes and clothes are a necessity for every human need, and just like clothes protect from weather elements such as strong sunlight, cold and rain same, shoes also provide us protection from all the weather elements. Besides that, it also provides a hygiene barrier and safety to our feet that protects us from stones and rumble while walking. It also keeps infectious and toxic materials away from our feet. When it comes to finding a perfect pair of shoes, comfort and look are the customer's main objectives of the are looking upon to. People buy a shoe based on their needs and requirement. Various types of shoes are worn for different events and occasions. For instance, sports shoes are worn for physical activities like running and playing matched up with sporty outfits, formal shoes are worn for formal events paired up with casual outfits, and fancy shoes are worn for fancy events. Not to deny the fact that beyond looks, people also look for comfort in them.
Increasing spending on footwear from online platforms
With the improvement of consumer disposable personal income, it is human nature to improve their life standard and provide themselves with things that are more than necessities—buying quality shoes, both mid-range and high-range, with prices instantly increasing. The shoe industry is more interconnected with the digital world. Digital platforms and digital marketing strategies have become the most prevalent platform for customers to shop for the shoes of their choice. With more companies selling their product online via their own website or cooperating with other E-commerce companies, the focus of customers is more towards the online platform where they can see various products in a single click on their fingers regardless of any location they are stationed.
Increasing sports events and involvement of people in physical activities
Shoes are the most important equipment for every athlete, irrespective of the events and categories they play. Sports like basketball, football, running, cycling and cricket demand high-quality shoes for athletes for comfort, better performance and, most importantly, to prevent injuries. Sports and high physical activities can put tremendous pressure on the feet, ankles and legs. For instance, Jumping and running can generate three to five times more force compared to the body weight on our legs. Companies like Nike, Adidas, and Puma specifically design shoes for various games and sports with advanced technologies that provide comfort and high performance and prevent athletes from being prone to injuries.
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TABLE OF CONTENTS
Part 01: Executive Summary
Part 02: Scope of the Report
Part 03: Research Methodology
Part 04: Market Landscape
Part 05: Pipeline Analysis
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation
Part 09: Customer Landscape
Part 10: Regional Landscape
Part 11: Decision Framework
Part 12: Drivers and Challenges
Part 13: Market Trends
Part 14: Vendor Landscape
Part 15: Vendor Analysis
Part 16: Appendix
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