Gloobal footwear market registered a substantial growth in terms of product innovations and technological advancements. The global footwear market size is estimated to reach USD 223.2 Billion by the end of 2024 and record a CAGR of 5.7%. Youngsters are increasingly inclined toward participating in sports and other outdoor activities which is expected to increase the demand for sports footwear during the forecast period. Moreover, consumers are also concerned about using appropriate shoes while participating in different sports activities to prevent injuries and improve their performance. Apart from that, the rising number of working professionals in the developing economies is expected to further propel the demand for formal shoes which in turn is expected to accelerate the growth of the global footwear market at a high pace.

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The global footwear market has been segmented on the basis of product type, category, end user, distribution channel, and region.

Based on product type, the global footwear market has been segmented into formal footwear, casual footwear, and sports footwear. The casual footwear segment accounted for the major market share in 2018 and it is expected to retain its dominance during the forecast period. The demand for casual footwear has increased owing to its usage on a regular basis by the consumers.

The market for global footwear has been bifurcated, on the basis of category, into open footwear and closed footwear. The closed footwear segment is expected to account for the maximum market proportion of the global footwear market and is projected to register the higher growth rate during the forecast period. The open footwear segment is projected to exhibit moderate growth during the forecast period.

Based on end user, the global footwear market has been bifurcated into men and women. The women segment is estimated to account for the larger market share of the global footwear market. Several varieties of footwear are available for women in the market and this is the major factor for the growth of the women footwear segment during the forecast period.

Based on distribution channel, the global footwear market has been segmented into store-based and non-store-based channels. The store-based distribution channel is estimated to account for a significant market share both in developed and developing economies.

Key Players

Some of the key players in the global footwear market are Nike Corporation (US), Adidas AG (Germany), VF Corporation (US), Crocs Retail, Inc. (US), ECCO Sko A/S (Denmark), Wolverine World Wide, Inc. (US), Under Armour Inc. (US), New Balance Athletics, Inc. (US), Asics Corporation (Japan), Deichmann SE (Germany), AeroGroup (Canada), Kering S.A. (Japan), Geox S.p.A (Italy), Skechers USA, Incorporation (US), and The Columbia Sportswear Company (US).

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The global footwear market has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.

The market in Asia-Pacific is expected to retain its dominance throughout the forecast period in the global footwear market. Large population size in the countries of the Asia-Pacific region is one of the major factors for the rising demand for footwear. Rise in per capita disposable incomes of the consumers in developing nations such as India, China, and Indonesia are expected to fuel the sales of footwear during the forecast period. The markets in China and India accounted for significant market share in 2018 and the trend is expected to continue during the forecast period. China accounts for the highest production of footwear products in the Asia-Pacific region.

The market in Europe accounted for approximately 27% of the market share of the global footwear market. Germany and France have major footwear production facilities which assists in the growth of the regional market.

The Global Footwear Market is anticipated to grow considerably in the forecast period due to the growing demand for trendy as well as comfortable footwear among all age groups across the globe. Factors responsible for driving the market growth, in the recent years, include burgeoning demand for designer shoes, increase in the per capita income in both developed and developing economies, high-end clientele, and growing popularity of the athletic footwear among men.

Additionally, robust growth in the fashion industry, rising demand for latest and improved footwear designs across the globe, and large-scale production in the Asia Pacific region are expected to fuel market growth of footwear market in the upcoming years. Globally, the market is predicted to grow at high CAGR over the forecast period, providing numerous opportunities for market players to invest for research and development in the footwear market.

Moreover, declining cost of footwear due to increased production coupled with easy availability are considered as one of the prominent factors for the rapid growth of footwear market, in the recent years. Easy availability of footwear owing to the presence of numerous retail channels and the gaining prominence of e-commerce retailers is anticipated to stimulate market growth in years to come. In addition, various e-commerce retailers are adopting new techniques to understand customers buying behavior, thus vastly gaining competitive edge over their counterparts. However, increase in the number of local manufacturers and large-scale production, thereby increasing competitiveness are expected to limit market progress to a certain extent.

Commonly, footwear industry majorly consists of men, women, and children’s shoes. The footwear industry also include various types of outdoor and indoor shoes that are produced with the help of materials such as leather, plastic, and rubber. The athletic footwear is considered as one of the fastest growing segment in the footwear market with substantial revenue generation in the last couple of years. Rising adoption of athletic footwear during sports activities in order to avert injuries to leg muscle, knee pain, hip pain, and back pain, is leading to substantial purchase of athletic footwear in North America and Asia Pacifica market. Presence of numerous e-commerce websites, supermarkets, hypermarkets, local retail stores, shoe stores, independent textile retailers, and departmental stores are expected to boost overall market performance in the upcoming years.

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Additionally, lowering cost of the athletic footwear in Asia-Pacific market is expected to augment market demand in near future. The recent development of innovative manufacturing technology that is increasingly adopted by industry players, has led to production of high performing and comfortable sports shoes. For example, advent of a forged mesh technology, that allows development of a single layer shoe with a ribbed pattern on the upper portion with help of ARAMIS, which is a motion capture technology, has gained a lot of appreciation and demand from North America and European region. Increasing demand form sports such as soccer, baseball, basketball, American-football, hockey, tennis, cricket and badminton is expected to boost the growth of sports shoes market segment.

The footwear industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in the manufacturing of footwear and existence of well-established manufacturing infrastructure. Asia-Pacific region is predicted to hold major market share in the footwear market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with increasing per capita income, growing penetration of e-commerce websites, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the footwear market are Adidas Co., Nike Incorporations, New Balance Incorporations, Puma Group, Asics Co., Bata Ltd., Deichmann SE, Skechers Incorporations, VF Co., W.L. Gore & Associates Inc., Fila Incorporations, Under Armour, Incorporations, Lotto Sport Italia S.p.A., The Aldo Group Inc., Reebok International, Saucony Co., Skechers Incorporations, and Woodland Worldwide.

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Global protective footwear market is anticipated to witness an exponential growth in the forecast period. Protective Footwear, also termed as “safety shoe” or “boot”, is a defensive equipment that helps to defend foot from direct compression threats and falling objects. The factors that propel the growth of the market include rapid industrial development, increase in the number of accidents, increasing consciousness among people, government rules and regulations regarding workers safety, and introduction to innovative products.

On the other hand, there are factors that may hamper the growth of the market including lack of awareness among workers in emerging countries and cheaper alternatives to safety shoes. Protective footwear market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.

Emerging trend in the market is the usage of lighter compound material in the protective footwear manufacturing. For e.g. Uvex i-genomics are innovative in their way. Properties such as light weight, optimum fit, and exceptional temperature regulation define Uvex I-genomics shoes. This product offers every type of safety and comes in diverse styles. Key players are working in the production of light composite materials and planning to come with new style, comfort, and protection all in one shoe.

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Protective footwear market could be explored by product type, application, end user, and geography. Market could be explored by product type as Rubber Footwear, PVC Footwear, Pu Footwear, and Other. The key applications that could be explored in this market include Metallurgical, Building, Port, Mines and other.

Market could be explored by end user as chemical industry, construction industry, manufacturing industry, and oil and gas industry and mining industry. The “Construction Industry” segment led the protective footwear market in 2017 and will continue to lead in the forecast period. The key factors that may be attributed to the growth of the sector include increasing number of workplace coincidences and growing acceptance of safety shoes in order to develop work-related safety.

North America accounted for the major share of the protective footwear market in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth include rising demand for construction, oil & gas, mining, and pharmaceutical companies and growing demand for women’s safety footwear. North America is followed by Europe and Asia-Pacific.

Some of the key players that fuel the growth of the protective footwear industry comprise Rocky Honeywell, Lehigh Safety Shoes, Georgia Boot, Ariat, Durango, Black Diamond, Baffin, Dan Post, Blundstone, Florsheim, Dr Martens, Kodiak, Impacto, Reebok, Puma, Thorogood, Royer, Xtratuf, Terra, and Tingley. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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Global boot market is anticipated to witness an exponential growth in the forecast period. Boot is one of the widespread footwear of shoe. It covers the lower leg and whole foot and used to protect leg and foot from snow, water, and industrial constituents such as chemicals. However, lately, it is also used for fashion and style purpose.

The factors that propel the growth of the market include growing influence of fashionable fashion boots, increasing awareness regarding the benefit of boots, high technical acceptance in established countries like Canada, U.S., and France, increasing popularity of online sales, and presence of several distribution channels. On the other hand, there are factors that may hamper the growth of the market including lack of awareness and low quality of the product.

Boot market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe. Market could be explored by type, material, application, distribution channel, and geography. Market could be explored by type as Work boots, Sports boots, Military boots, Equestrian boots, and others.

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Based on the material, the market could span Plastic, Leather, Rubber, Polyurethane, and Waterproof. The key applications that could be explored in the boot market include Men and Women. Market could be explored by distribution channel as supermarkets and hypermarkets, online channels, independent retail stores, shoe stores, textile retailers, independent retail stores, and departmental stores. The ‘Supermarket and Hypermarkets’ segment led the market in 2016 and will continue to lead in the forecast period. The key factor that may be attributed to the growth of the market includes increasing demand.

Middle East & Africa accounted for the major share of the boot market in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth include increasing fashion trend, rising consciousness among population, and growing demand from several industries. Middle East and Africa is followed by the Asia-Pacific region owing to increasing demand. Japan is anticipated to change the dynamics and trends of the market in the forecast period.

Some of the key players that fuel the growth of the boot industry comprise Red Dragonfly, Belle, Daphne, AOKANG, ST&SAT, Meermin, and Camel. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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17 June 2019, The global sports footwear market is subject to witness a substantial growth due to the rising enthusiasm towards sporting events, increasing focus towards fitness activities, and growing penetration of retail e-commerce sector across the globe. Additionally, rising disposable income and health consciousness among young population in both developed and developing economies worldwide are anticipated to drive the growth of the athletic footwear sales market over the forecast period. Globally, the market is predicted to grow at a significant CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the sports footwear market.

Changing lifestyle patterns and increasing participation in sports related activities by young population are estimated to fuel market growth in upcoming years. Increasing awareness about health benefits associated with sports and fitness activities such as improved health and reduced the risk of chronic disorders are boosting market demand of sports footwear. Additionally, sports and fitness activities helps to limit depression, cardiovascular diseases, and diabetes. Such factors are leading to the soaring demand of sports and fitness activities.

Rising adoption of athletic footwear during sports activities in order to avert injuries to leg muscle, knee pain, hip pain, and back pain, is leading to substantial purchase of athletic footwear in North America and Asia Pacific’s market. Additionally, lowering cost of the athletic footwear in Asia-Pacific market is expected to augment market demand in near future. The recent development of innovative manufacturing technology that is increasingly adopted by industry players, has led to production of high performing and comfortable sports shoes.

For example, advent of a forged mesh technology, that allows development of a single layer shoe with a ribbed pattern on the upper portion with help of ARAMIS, which is a motion capture technology, has gained a lot of appreciation and demand from North America and European region. ARAMIS technology, developed by Adidas, Inc., helps to identify amount of the strain exerted on the foot.

These technologies are helping sports players by providing required level of comfort, adequate support and flexibility along the ankle to ensure free and faster foot movement. Athletic footwear sales market is divided into five brad categories such as aerobic shoes, running & walking shoes, trekking & hiking shoes, and sports shoes.

The sports shoes are considered as one of the fastest growing segment in the athletic footwear sales market with substantial revenue generation in the last couple of years. Increasing demand form sports such as soccer, baseball, basketball, American-football, hockey, tennis, cricket and badminton is expected to boost the growth of sports shoes market segment. Growing popularity of Soccer, basketball and tennis are expected to heighten market advancement in years to come.

Furthermore, introduction of technologies such as surround technology by W.L. Gore & Associates Incorporations with Salewa Corporations are anticipated expand market reach in upcoming years. Surround technology helps to laminates upper portion of shoe that is increasingly used during trekking & hiking exercises. This allows foot to be surrounded from all sides, thus expelling the sweat and heat out of the shoes by side ventilation. Men’s footwear market segment has witnessed significant growth in the last decade, is expected to advance in near future as well. While, women’s footwear market segment is expected to catch up gradually with men’s footwear market segment, as the popularity of sports continues to grow among general population.

The market is divided by region such as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rising preference towards sports, fitness, and adventure activities, like aerobics, hiking, training, and trail running, and presence of prominent industry players in the region. Asia-Pacific region is predicted to hold major market share in the sports footwear market with massive growth in forecast period.

Countries such as India, China and Singapore are leading the Asia-Pacific market with rising enthusiasm for various sports events, increasing per capita income, growing penetration of e-commerce websites, and significant investment by leading industry players considering potential opportunities in the region. The key players in the sports footwear market are Adidas AG, ASICS Co., Fila Incorporations, Under Armour, Incorporations, Lotto Sport Italia S.p.A., New Balance Athletics Incorporations, Vans Co., Nike Incorporations, Puma SE, Reebok International, Saucony Co., Skechers Incorporations, and Woodland Worldwide.

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