38% of the growth will come from North America for the footwear market: by product, end user, distribution channel and geography

NEW YORK, December 15, 2021 / PRNewswire / – Footwear Market Overview –

• Total pages: 120

• Companies: 10+ – Including adidas AG, ASICS Corp., Burberry Group Plc, New Balance Athletics Inc., Nike Inc., PUMA SE, Skechers United States Inc., Under Armor Inc., VF Corp. and Wolverine World Wide Inc., among others.

• Blanket: Main drivers, trends and challenges; Product information and news; Value chain analysis; Parents market analysis; Supplier landscape

• Segments: Product (non-sports shoes and sports shoes), End user (women, men and children), Distribution channel (offline and online)

• Geographies: APAC (China, Japan, India, Australia, and New Zealand), Europe (UK, Germany, France, Italy, and Spain), North America (WE, Canada, and Mexico), South America, and MEA

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According to the recent Technavio market study, the Footwear market share in the footwear industry should increase by $ 16.85 billion from 2020 to 2025, with an accelerated CAGR of 1.13%. The report provides detailed analysis of drivers and opportunities, top winning strategies, competitive scenario, future market trends, market size and estimates, and major pockets of investment.

APAC will register the highest growth rate of 38% among other regions. China and India are the key markets for footwear. Moreover, the market growth in APAC will be faster than the market growth in other regions.

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The story continues

Supplier Information-

The footwear market is fragmented and suppliers are deploying organic and inorganic growth strategies to compete in the market.

Burberry Plc Group – In May 2021, the company launched a series of global pop-ups to celebrate the brand’s signing Olympia bag, with the first opening at Harrods. which is specially designed to provide an even smoother and more cushioned ride.

ASICS Corp. – In April 2021, the company launched MAGIC SPEED, which delivers top performance and fuel efficiency to help runners run longer and faster.

Under Armor Inc. – In February 2021, the company unveiled its top-performing running shoe, the UA Flow Velociti Wind.

Discover additional highlights about the vendors and their product offerings. Download a free sample report

Regional market outlook

The APAC footwear market is expected to generate significant business opportunities for vendors during the forecast period. China and India are the key markets for footwear in APAC. The market growth in this region will be faster than the market growth in other regions.

Increasing disposable income of people, growing preference for premium quality footwear and growing health awareness among people will facilitate the growth of footwear market in APAC during the forecast period.

Download our FREE sample report for more highlights on the regional market share of most of the countries mentioned above.

Latest drivers and trends driving the market –

Suppliers are constantly innovating and introducing new models and designs due to market competition and changing customer demand due to continuous changes in the fashion industry. Customers look for shoes for formal purposes, especially leather shoes, and casual ones, such as athletic shoes or canvas shoes. Therefore, sellers regularly expand their brand and product lines. Sports shoes belong to the promoted product segment. The demand for such shoes has increased due to the availability of innovative products, which offer high-end appeal, which can also be used as party wear. Strong demand and premiumization allow manufacturers to increase the price of their products. Innovations in celebrity product designs and approvals have enabled vendors to meet the demand of high income customers. Major suppliers design personalized and personalized athletic shoes to expand their customer base.

Personalization is available for different types of shoes. High-end shoe customization includes the application of hard metals, such as gold and silver, and precious stones, such as diamonds. Over the past five years, the popularity of personalized products has increased in developed regions such as the Americas and Europe. Emerging countries, such as China and India, are also experiencing a growing demand for high-end personalized products, including high-end shoes. In the premium segment, the main suppliers offer personalized products, which have aesthetic appeal. The extent of customization may vary from design, logo, color, buckles to embroidery or adding names. The advent of footwear customization on a global scale complements the market growth through new purchases. During the forecast period, shoe customization is expected to increase the revenue of shoe manufacturers.

Find additional information on various other market drivers and trends mentioned in our FREE sample report.

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