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Global Footwear Market – Industry Trends and Forecast to 2029

  • FMCG
  • Upcoming Report
  • Jul 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Footwear Market, By Product Type (Athletic, Non-Athletic Footwear), Material (Plastic, Synthetic Rubber, Leather, Plant Based, Others), Distribution Channel (Hypermarkets, Online Channels, Specialty Stores, Others), End-User (Men, Women, Kids) – Industry Trends and Forecast to 2029

Footwear Market

Footwear Market Analysis and Size

The global footwear market appears to be fragmented due to the presence of many well-established companies. Furthermore, this raises the level of competition in the market. As a result, players are employing various strategies such as mergers, acquisitions, and joint ventures to maintain their market leadership. Several market players, for example, are collaborating with other companies in order to expand their production capabilities and develop innovative products. Many companies in the footwear industry are increasing their R&D efforts in order to develop next-generation products. In order to expand their customer base, they are also focused on providing cost-effective and high-quality products. These initiatives are expected to generate revenue opportunities in the global footwear industry.

Data Bridge Market Research analyses that the footwear market is expected to reach the value of USD 31.37 billion by 2029, at a CAGR of 13.33% during the forecast period. he footwear market report examines the current growth, which is being driven by rising consumer awareness of sport activities among both men and women.

Market Definition

Footwear refers to garments worn on the feet that were originally designed to protect against environmental adversities, most notably ground textures and temperature.

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2019 - 2014)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

By Product Type (Athletic, Non-Athletic Footwear), Material (Plastic, Synthetic Rubber, Leather, Plant Based, Others), Distribution Channel (Hypermarkets, Online Channels, Specialty Stores, Others),

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Market Players Covered

Bata Brand (India), Honeywell International Inc. (U.S.), Wolverine World Wide Inc.  (U.S.), Rahman Group (India), Dunlop Protective Footwear (Portugal), VF Corporation (U.S.), Uvex group (Germany), Hewat's Edinburgh (U.K.), ELTEN GmbH (Germany), COFRA Holding (Switzerland), Rock Fall Ltd. (U.K.), Oftenrich Holdings Co. Ltd. (U.S.)

Opportunities

  • the rise in sports activities
  • emphasis on performance, and technological advancements have resulted in the footwear gaining immense popularity in sportswear
  •  the growing demand for fashionable, comfortable, and convenient footwear, as well as the growing number of working people around the world

Footwear Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

  • increasing demand for convenient and comfortable footwear

Due to the high demand for convenient and comfortable footwear, and companies focusing on a few key specifications, such as creative designs, product advancements, and advanced technical manipulations, the footwear market is expected to grow.

  • Increased sports activities and technological advancement

the rise in sports activities, emphasis on performance, and technological advancements have resulted in the footwear gaining immense popularity in sportswear, as well as the growing demand for fashionable, comfortable, and convenient footwear, as well as the growing number of working people around the world, are some of the key factors expected to drive the footwear market during the forecast period.

Opportunity

Furthermore, due to the development of various eCommerce companies, major vendors in this industry are choosing to sell through online platforms in order to secure a more diverse customer base, as it allows them to advertise their products with large discounts and offers to entice consumers. The growing popularity of sports shoes among the general public stems from an increase in participation in various sporting activities such as squash, basketball, football, volleyball, and aerobics, among others. Furthermore, increased awareness of the physical benefits of participating in daily exercises is propelling the growth of the athletic footwear market.

Restraints

Increasing fluctuations in raw material prices are expected to limit market growth. Furthermore, counterfeit products are a major concern and a threat in the brand-oriented footwear enterprise, and are one of the factors expected to stymie the growth of the footwear market.

This footwear market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the footwear market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Post COVID-19 Impact on Footwear Market

The COVID-19 pandemic has had a negative impact on several industries around the world, including the footwear industry. With consumption at a halt and inventories piling up in warehouses, business priorities have shifted to liquidation strategies and inventory management while assessing post-pandemic consumer habit changes. Given the combined effect of outlet closures and frugality as a result of the rapidly deteriorating economic situation, the discretionary nature of footwear made it one of the most severely affected industries by the pandemic. Furthermore, brands such as Adidas, Nike, and Puma, among others, reported a decline in consumer demand for athletic footwear as consumers reduced or delayed discretionary spending in response to the effects of COVID-19, owing to higher unemployment rates and lower consumer confidence.

Recent Development

  • Puma SE opened its largest store in north India in Gurgaon in October 2021. The store, located in Gurgaon's CyberHub retail destination, is a "digitally-enabled experiential store" with digital touchpoints to attract digitally savvy customers who are increasingly shopping online.
  • In July 2021, Nike released its 'Rawdacious colorway palette,' which is a combination of white as the primary colour, with components of pink blast, total orange, and bright crimson, for its new line of athletic footwear, which includes the Pegasus 38, Invincible Run, Air Zoom Superfly Elite 2, ZoomX Vaporfly NEXT percent 2, and Air Zoom Alphafly NEXT percent 2.
  • Nike will officially launch the Nike App, the company's fastest-growing platform, in July 2021.

Global Footwear Market Scope

The footwear market is segmented on the basis of product type, material, end-user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

  • Athletic
  • Non athletic

Based on product type, the footwear market is segmented into athletic, non-athletic footwear.

Material

  • Plastic
  • Synthetic rubber
  • Leather
  • Plant based
  • Others

Based on material, the footwear market is segmented into plastic, synthetic rubber, leather, plant based, others.

Distribution channel

  • Hypermarkets
  • Online channels
  • Specialty stores
  • Others

Based on distribution channel, the footwear market is segmented into hypermarkets, online channels, specialty stores, others.

  • End users
  • Men
  • Women kids

Based on end-user, the footwear market is segmented into men, women, kids.

Footwear Market Regional Analysis/Insights

The footwear market is analysed and market size insights and trends are provided by country, product type, material, end-user and distribution channel as referenced above.

The countries covered in the footwear market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the footwear market due to the presence of a large consumer usage base in developing countries such as China, India, and Indonesia, as well as the region's growing demand for athletic and non-athletic footwear usage.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Footwear Market Share Analysis

The footwear market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to footwear market.

Some of the major players operating in the footwear market are:

  • Bata Brand (India)
  • Honeywell International Inc. (U.S.)
  • Wolverine World Wide Inc.  (U.S.)
  • Rahman Group (India)
  • Dunlop Protective Footwear (Portugal)
  • VF Corporation (U.S.)
  • Uvex group (Germany)
  • Hewat's Edinburgh (U.K.)
  • ELTEN GmbH (Germany)
  • COFRA Holding (Switzerland)
  • Rock Fall Ltd. (U.K.)
  • Oftenrich Holdings Co. Ltd. (U.S.)

Research Methodology: Global Footwear Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The stage includes the obtainment of market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analyzed and estimated 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 drop down your inquiry.

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, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Customization Available

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.


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Frequently Asked Questions

Global Footwear Market segmented By Product Type such as Athletic, Non-Athletic Footwear.
This footwear market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market.
The major players covered in the footwear market report are PUMA SE; SKECHERS; Nike, Inc; JACK WOLFSKIN; Woodland Worldwide; The Aldo Group Inc.; Under Armour®, Inc.; Bata Corporation; Skechers; PUMA; adidas AG; New Balance; ASICS Asia Pte. Ltd.; Columbia Sportswear Company; ECCO Sko A/S; Geox S.p.a; Hermès; KERING; TBL Licensing LLC; Tapestry, Inc.; LVMH Moët Hennessy.