The global footwear market has been witnessing steady growth in the recent years. Footwear includes various types of wearable foot-coverings such as shoes, boots, sandals, and sneakers. Changing fashion trends and growing disposable incomes have been fuelling the demand for fashionable and stylish footwear across the world. Rising outdoor activities have also augmented the demand for sports and casual footwear. In addition, recovery in major economies post the COVID-19 pandemic has augmented the demand from both individual consumers as well as institutional sectors like schools and offices. However, the availability of low-cost alternatives from China and Indonesia remains a challenge for high-end brands. Overall, the future prospects for the global footwear market looks positive as demand is expected to rise steadily in the coming years. Footwear serves both functional and fashion purposes for consumers across diverse climatic zones and cultures. Rapid urbanization, rising disposable incomes, and changing lifestyles have propelled the demand for footwear over the last few decades.
Market Dynamics:
The global footwear market is driven by growing fashion consciousness among consumers along with rising incomes in developing nations. Rapid urbanization and changing lifestyles have boosted the demand for trendy and premium footwear globally. Moreover, growth in the women workforce has augmented the demand for professional yet comfortable footwear. However, the market also faces challenges from low-cost alternatives from Asian countries. Intense competition among existing players further squeezes profit margins. Nevertheless, opportunities lie in premium and specialty footwear segment as consumers seek customized and unique products. Rising health-consciousness and boom in outdoor activities will further aid market expansion. Innovation in designs, materials, and technology will also help sustain the growth momentum in the long-run.
Key Features of the Study:
It profiles key players in the global footwear market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
Detailed Segmentation:
Athletic Footwear
Table of Contents
*Browse 24 market data tables and 28 figures on “Global Footwear Market” - Global forecast to 2031
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