News • 15.03.2019

Footwear market expected to grow rapidly

Application insights, latest trends, developments, and forecasts to 2021

Shoes; Copyright: Clem Onojeghuo/Unsplash
Source: Clem Onojeghuo/Unsplash

Global Footwear Market is expected to grow at a significant CAGR in the upcoming years as the scope and its applications are rising enormously across the globe. Footwear is a garment worn on the feet to protect and comfort against adversities of the environment like temperature and ground textures. Moreover, it is used as a fashion statement. 

High demand for sportswear among customers as growing sports activity, growth in shoe-knitting technology of the footwear, and rising adoption of enhanced technologies are documented as major factors of Footwear Market that are estimated to enhance the growth in the years to come. Footwear Market is segmented based on product type, material, distribution channel, end users, and region. Non-athletic footwear and athletic footwear are the product types that could be explored in Footwear in the forecast period. 

Non-athletic footwear comprises lite hiking outdoor sandals, casual footwear, military boots, and dress evening footwear. Athletic footwear sector comprises baseball shoes, running and cross training/tennis shoes, hiking shoes, golf shoes, and basketball shoes. In terms of volume and revenue, non-athletic sector may account for the substantial market share in the coming years. Plastic, rubber, leather, cotton, jute, and other material types could be explored in Footwear in the forecast period. Departmental stores, online channels, textile retailers, shoe stores, independent retail stores, supermarkets and hypermarkets, and other distribution channels could be explored in Footwear in the forecast period. The market may be categorized based on end users like kid's footwear, men's footwear, and women's footwear that could be explored in the forecast period.

Footwear Market is segmented geographically into Americas (North America, South America, and Latin America), Europe (Eastern Europe, Western Europe), Asia Pacific (India, China, Japan, New Zealand, and Australia), Latin America(Mexico, Argentina, and Brazil), Middle East (UAE, Saudi, and Qatar) and Africa (South Africa). Globally, North Americamay account for the substantial market share of Footwear in terms of revenue and is estimated to lead the overall market in the coming years. 

The reason behind the overall market growth could be growing participation of the people in fitness activities like aerobics, basketball, volleyball, squash, and tennis. Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR in the foremost period. 

The key players of Footwear Market are New Balance, Adidas Group, Fila, Nike, PUMA, BATA BRANDS, HUGO BOSS, Burberry, Jimmy Choo, Alexander McQueen, Hermès, DOLCE&GABBANA, VF Corporation, and Guccio Gucci. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.

Source: Radiant Insights, Inc.

related articles:

popular articles:

Thumbnail-Photo: The importance of effective complaint management...
12.08.2020   #customer satisfaction #customer relationship management

The importance of effective complaint management

A strategic and cross-channel approach to handling negative customer experiences

Customers are more demanding than ever, while brand loyalty is declining. Even a couple of negative experiences can alienate consumers and erode loyalty. Shoppers increasingly share bad reviews and complaints on public communication channels for ...

Thumbnail-Photo: Growth of online grocery sales in 2020
30.04.2020   #online trading #e-commerce

Growth of online grocery sales in 2020

New research by Mintel

The latest research from Mintel reveals the online grocery market is forecast to grow by 33 percent in 2020 to reach an estimated value of £16.8 billion, up from £12.7 billion in 2019. This phenomenal rise follows four consecutive years ...

Thumbnail-Photo: Smart clothing to drive fitness wearable revenue...
10.06.2020   #trend research #fashion

Smart clothing to drive fitness wearable revenue

New report forcasts a rise of 11 billion Dollar by 2025

A new report from Juniper Research forecasts that annual revenue of integrated fitness clothing will rise from approximately $1 billion in 2020 to $11 billion in 2025. This rapid growth, boosted by higher pricing, will see smart clothing become the ...

Thumbnail-Photo: In-store farming: growing parsley inside the supermarket...
26.06.2020   #sustainability #in-store marketing

In-store farming: growing parsley inside the supermarket

Purchasing locally grown products

One aspect of globalization means that it’s possible for consumers to buy products from anywhere on Earth. That’s also why a head of lettuce may have traveled more miles from the place it was grown to the supermarket than some salad ...

Thumbnail-Photo: The Virtual Africa Big Retail Expo 2020 (ABRE 2020)...
06.07.2020   #digital marketing #marketing research

The Virtual Africa Big Retail Expo 2020 (ABRE 2020)

The spotlight is on the emerging trends in the retail industry at The Virtual Africa Big Retail Expo 2020, set to take place on 6th August 2020

The event is scheduled to begin from 0900 EAT till 1400 EAT. This exhibition is the first annual event which is dedicated to discussing the following:How do retailers keep up as the world tries to deal with the enormous pressure to adapt to ...

Thumbnail-Photo: Coronavirus: most Americans now using face masks...
15.05.2020   #brick and mortar retail #coronavirus

Coronavirus: most Americans now using face masks

New nationwide survey from Fast

A new nationwide survey from Fast shows that the vast majority of Americans – 88 percent – are now using face masks, but 19% want to personally receive a COVID-19 vaccine before they feel safe shopping in stores again, while another 29 ...

Thumbnail-Photo: Retailers say credit insurance plan could increase liquidity during...
15.07.2020   #retail #coronavirus

Retailers say credit insurance plan could increase liquidity during pandemic downturn

Backstop for trade credit insurance

The National Retail Federation welcomed a report released this week calling for a federal backstop for trade credit insurance, saying the proposal could help provide liquidity badly needed by retailers as they recover from the recession brought on ...

Thumbnail-Photo: Take a deep breath ...and get back to work!
26.05.2020   #brick and mortar retail #personnel management

Take a deep breath ...and get back to work!

Retail employee break rooms and rest breaks in Germany

Working hard is important, but so is taking proper rest breaks! Whether we spend this time alone or with colleagues, by getting some sunlight and fresh air or by relaxing in designated rooms – we all need to take a break sometimes to relax and ...

Thumbnail-Photo: Upturn for brick and mortar retail in city centres?...
17.07.2020   #brick and mortar retail #customer relationship management

Upturn for brick and mortar retail in city centres?

Economic development and city marketing about current measures

Bonn's inner city – like all other cities in Germany – is struggling with the consequences of the Corona lockdown. We asked directly on site what support there is from the economic development and city marketing departments. This ...

Thumbnail-Photo: Pandemic fuels wine sales at grocery & convenience stores...
18.05.2020   #coronavirus #food retail

Pandemic fuels wine sales at grocery & convenience stores

Latest shopping data shared by Catalina and Koupon

Having closely tracked the impact of COVID-19 on buying behavior in grocery and drug stores since mid-February, shopper intelligence leader Catalina has compared sales data with its partner Koupon, the leading promotion solution provider for small ...

Supplier

POS TUNING Udo Voßhenrich GmbH & Co KG
POS TUNING Udo Voßhenrich GmbH & Co KG
Am Zubringer 8
32107 Bad Salzuflen