The footwear market globally is expected to reach a value of USD 626,164.40 million by 2030, at a CAGR of 5.8% during the forecast period. “Sandals/flip-flops" account for the most used segment in the footwear market due to mostly prefer to wear indoors, on holidays, and gym and can be worn with shorts, trousers, chinos, semi-formals, or any outfits you wear except with formals as long as you feel comfortable, is anticipated to boost the segment's growth.
Opportunities
Recent advancements in innovation with new features and design
With the fast evolution and changing lifestyle day by day, and with rising consumers’ disposable income, consumers are more inclined toward fashionable products. Consumers are improving their living standards on the basis of their disposable income and are consuming more fashionable and trendy products. So these kinds of inclinations of the consumer will create an opportunity for the market players operating in the global leather goods market.
Increasing innovation in footwear with new features and designs is the main factor responsible for providing a host of opportunities for a growing consumer base of footwear products. Consumers are more and more aware of the latest fashion trends due to the increasing adoption of social media, and this is expected to create space for new features and designs in the production of different types of leather goods.
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Collaboration with social influencers and superstars
Advertisement and promotion is the main component in uplifting the sales of any product. Businesses use advertising to accomplish various goals. Companies spend a hefty amount of money in promotion and advertisement to promote their brands and products to reach the most consumer and when it comes to the footwear industry is no exception, footwear companies collaborate with various sports events and athletes from various categories to promote their products.
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.
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.
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
- 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.
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.)
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MAJOR TOC OF THE REPORT
Chapter One: Introduction
Chapter Two: Market Segmentation
Chapter Three: Market Overview
Chapter Four: Executive Summary
Chapter Five: Premium Insights
Chapter Six: Footwear Market
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