Global Footwear Market: Rising Demand for Comfortable and Trendy Shoes to Uplifts the Market Growth

Footwear Market

Footwear’s are designed in such a way so they can cover the feet and provide protection against different environment factors. They are also used to decrease the chances of injuries. Socks and other hosiery are worn under the footwear to provide comfort. Some of the common materials which are used for the manufacturing of this footwear consist of plastic, rubber, leather, and wood. Footwear can also be used for style and novelty and to signify a person's status or rank within a social structure. Laces, heel, sole, air cushion, grommet, and tread are some of the components of the footwear. Boots, ski boots, waders, galoshes, athletic shoes, climbing shoes, high heels, skate shoes, and other are some of the common types of the footwear.

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The major factor responsible for the growth of Footwear Marketis:

  • Adoption of new and recently launched products endorsed by various celebrities and sports personalities as a fashion statement from the population: Today there are different types of footwear available in the market as per the need and requirement of the customer’s apparel and event. With increasing competition in the market, different competitors are using different techniques so they can enhance their product reach and attract more customers. Many celebrities and other sports personalities are endorsing different products as a fashion symbol so they can attract more customers. They are using their social media sites and other events in order to make their product more popular and appealing among the population

The global footwear market is segmented on the basis of type as non-athletic, & athletic; distribution channel as e-commerce, direct, retail, & others; end-user as children, men, & women and material as leather& non-leather.

Some of the launches and acquisition in the Footwear Market are:

  • In July 2019, Pashion Footwear announced the launch of their new footwear which is specially designed for women which has the ability to get converted into high heels to flats. This new footwear uses the patent pending Pashion Stelo, a removable heel. The technology makes it possible to move shoes from heels to flats with a quick wrist twist. The company has launches two introductory shoes The Pashionista and Girl Boss
  • In April 2019, NINA SHOES announced the launch of their new fresh vegan shoe collection daybreaks. The launch collection styles are perfect for the music festival season and consist of heavily-hued sandals and spadrilles with real comfort features and modern vegan materials. These new launch are light and soft, which also consist of memory foam padding, and flexible bottoms

“According to Data Bridge Market Research, Global Footwear Market is set to witness a substantial CAGR in the forecast period of 2019- 2026”

Few of the major competitors currently working in the footwear market are Nike, Inc.; Bata Corporation; Skechers; PUMA; adidas AG; Under Armour, Inc.; ECCO Sko A/S; Geox S.p.a; TBL Licensing LLC;         New Balance; The Aldo Group Inc.; WOODLAND WORLDWIDE; JACK WOLFSKIN; Wolverine World Wide, Inc.; Columbia Sportswear Company; ASICS; Crocs Retail, LLC; Hermès; KERING; LVMH, Tapestry, Inc. among others.

Increasing demand for sports shoes due to rising health concern among population is affecting the market growth. There is also rising demand for comfortable, fancy and trendy footwear among population and younger population which is subsequently has taken over internet so they can avail more offers and options offered by online shopping sites; this is another factor impacting the market growth positively. Availability of different types of footwear as per the need and requirement of the event is also driving the market growth.

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