LATAM Footwear Market is Expected to Grow with the CAGR of 4.3% in the Forecast Period of 2021 to 2028

LATAM Footwear Market is forecasted to grow with significant CAGR owing to factor such as growing demand for athletic footwear and growing awareness of sports and fitness activities. Counterfeiting of branded footwear is a major restraining factor which is hampering the growth of the footwear market.

Footwear market has shown an exceptional penetration in countries such as Brazil, Mexico, Argentina, Colombia, Chile and Ecuador among others. Increase in global sporting and fashion events in Brazil, Chile, Argentina and Mexico is also boosting the growth of market. The region is witnessing rapid pace of urbanization which is creating huge opportunity for the footwear market in the region.

Footwear Market Scenario

According to Data Bridge Market Research, the market for footwear in Brazil country has the highest market share followed by Mexico and Argentina. Market leader is Nike, Inc. which accounts an estimated market share of approximately 25-30% in the region. The company has gained outstanding sales through their customized athletic footwear. The market is witnessing partnerships and collaboration with celebrities to endorsing products and launch new footwear with latest design to attract and acquire more customers.

For instance,

  • In July 2019, Crocs Retail, LLC and Vera Bradley, the iconic women’s fashion and lifestyle brand announced about their partnership to create exclusive footwear by combining Crocs’ world-renowned comfort with Vera Bradley’s signature bright florals and paisley designs. This partnership will help the companies to expand and enhance their product portfolio.

LATAM Footwear MarketTrends Impacting the Market

Now the question is which other regions Nike, Inc., ADIDAS AG and PUMA SE are targeting? Data Bridge Market Research has estimated a large growth in Brazil footwear market and the market leaders targeting Mexico, and Argentina to be their next revenue pockets for 2020.

The footwear market is becoming more competitive every year with companies such as Nike, Inc., ADIDAS AG and PUMA SE as they are the market leaders for footwear. Data Bridge Market Research new reports highlight the major growth factors and opportunities in the footwear market.

For more analysis on the footwear market request for a briefing with our analysts:-

Footwear Market Development

  • In August 2020, ADIDAS AG has designed and introduced new range of sport shoes for football X Ghosted for all new adidas material technology and translucent mirageskin. This new shoes will provide lightweight stability and support. With this new launch of football shoes will help the company in offering broader options to their customers and will increase their business.

Scope of the Footwear Market

LATAM footwear market is segmented on the basis of countries into Mexico, Chile, Ecuador, Colombia, Paraguay, Peru, Argentina, Uruguay, Brazil, Bolivia, Venezuela, Panama, Guatemala, El Salvador, Honduras, Costa Rica, Nicaragua, Rep Dominican, Trinidad and Tobago, Jamaica and Rest of LATAM.

  • All country based analysis of footwear market is further analyzed based on further segmentation. On the basis of type, LATAM footwear market is segmented into loafer, shoes, sandals / flip-flops, boots, wedges, athletic and others. On the basis of material, LATAM footwear market is segmented into leather, rubber, textile, plastic and others. On the basis of distribution channel, LATAM footwear market is segmented into e-commerce, specialty stores, supermarkets / hypermarkets, convenience stores and others. On the basis of end user, LATAM footwear market is segmented into men, women and children.

To know more about the study:-

Key Pointers Covered in Footwear Market Industry Trends and Forecast to 2027

  • Market Size
  • Market Standards and Changes
  • COVID 19 Impact on the Market
  • Market Trials in Different Regions
  • Market Requirements in Different Regions
  • Market Shares in Different Regions
  • Recent Developments for Market Competitors
  • Recent Market Value for Different regions
  • Sales Data for Market Competitors
  • Market Key Vendors and Disruptors Study

Key Market Competitors Covered in the Report

  • Crocs Retail, LLC
  • Nike, Inc.
  • Bata Corporation
  • Geox S.p.a
  • Relaxo Footwears Limited
  • VF Corporation
  • Under Armour, Inc.

Above are the key players covered in the report, to know about more and exhaustive list of footwear companies’, contact us:

Research Methodology: LATAM Footwear Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Primary Respondents

  • Demand Side: Retailers, Distributors, and Industrial Professionals among others
  • Supply Side: Manufacturers, Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Service Consultants and Regulatory Affairs Managers among others.

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