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Footwear Market Report

RA08398

Footwear Market by Type (Athletic and Non-athletic), Material (Leather and Non-leather), End User (Men, Women, and Children), and Distribution Channel (Hypermarket/Supermarket, Specialty Store, Brand Outlets, Online Sales Channel, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2028

RA08398

Pages: 288

May 2021

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on Footwear Market

Footwear Market Analysis

The global footwear market is anticipated to garner $536,900.5 million in the 2021–2028 timeframe, growing from $360,090.9 million in 2020 at a healthy CAGR of 5.2%

Market Synopsis

Product launches and partnerships among market players, along with product innovations to attract customers and to expand business, is anticipated to drive the growth of the footwear market.

However, the availability of counterfeit products that imitate the products of authentic brands with an intent to steal, replace, or destroy the original brand and to offer counterfeit products at cheaper price are anticipated to restrain the market growth.  

According to the regional analysis of the market, the Asia-Pacific footwear market is anticipated to grow at a CAGR of 6.1% by generating a revenue of $239,506.3 million during the review period.

Footwear Overview

Footwear is used to protect and comfort the human foot from sharp rocks, extreme temperatures, and for safety. A variety of footwear are available in the market that are made from leather, plastics, rubber, and other petrochemical-derived materials. Leather is one of the prominent materials used for fabricating footwear. Besides, many industry players are using eco-friendly raw materials, including recycled carpet padding, recycled car tires, organic cotton, and vegetable-dyed leathers for producing footwear. Moreover, companies are hugely focusing on a few key parameters, such as advanced technical fabrications, product developments, and innovative designs to boost the product sales.

Impact Analysis of COVID-19 on the Global Footwear Market

The novel coronavirus pandemic had a devastating effect on several industries and the footwear market also experienced a negative impact owing to complete lockdown situation that led to supply chain disruptions, postponements, or order cancellations, and decline in export orders. Furthermore, the closure of supermarkets, retail stores, premium outlets, and manufacturing facilities led to decline in demand for footwear globally. The shutting of factories and production units in China has led to supply chain disruptions and sharp increase in the prices of various raw materials. There has been sharp decline on export of footwear from India to other countries. For instance, it is stated by Indian Retailer, a largest retail sector news provider, on March 31, 2020, that Agra is the leading footwear hub in India, exporting shoes worth $406 million to European countries every year. Due to pandemic the footwear export from Agra was greatly affected as these manufacturers import various raw materials and components such as cellulose board, insoles, buckles, laces, foam, and other materials from China as the country was greatly affected by pandemic. Also, online as well as offline footwear sales were greatly affected due to pandemic. The premium outlet stores of leading footwear companies such as Puma and Adidas were closed that has created a negative impact on global footwear market demand.

Several countries, with their technological advancements and various initiatives, are helping the society to recover from the chaotic situation. To cope up with the crisis, many companies have employed targeted and thoughtful approaches regarding storage space with more focus on footwear sales via online platforms. For instance, in India the ‘Atmanirbhar Bharat’ and ‘Vocal for Local’ mission has helped the footwear brands to focus on sourcing materials from Indian cities, manufacturing, and packaging the same in India. Also, India is famous for leather shoe industry and the manufacturers are also focusing on increasing the home production of non-leather shoes. This has created local jobs, boost the development of small & medium businesses that will help country in becoming self-reliant. Such initiatives are anticipated to generate significant revenue and growth opportunities, amid the COVID-19 crisis.

Changing Lifestyle & Increase in Health Awareness to Drive the Market Growth 

The emerging economies, changing lifestyle habits, and increase in health awareness among population that exercises regularly is driving the demand for footwear market. Further, some footwear also offers therapeutic benefits that are suitable for the old age population. For instance, Crocs, a leading American shoe manufacturer, claims that their shoes have therapeutic effects, and they are certified by the U.S. Ergonomics Council and the American Podiatric Medical Association. The Clog’s brand of Crocs has anti-bacterial properties that help patients suffering from diabetes to address reduced circulation in feet thereby reducing the risk of wound infection. In addition, increase in health-conscious population that visits fitness centers and performs various indoor and outdoor activities has increased the demand for athletic footwear. The demand for athletic footwear has increased among all age groups. The economic empowerment of women across various countries that has created enormous job opportunities, as led to increase in demand for non-athletic footwear as women are more fashion-conscious and prefer wearing different footwear for different occasions. All these aspects are estimated to drive the market growth and demand for footwear during the forecast period.

To know more about global footwear market drivers, get in touch with our analysts here.

Availability of Counterfeit Products to Restrain Market Growth 

The availability of various counterfeit products that imitate the original products and offer the counterfeit footwear at lower prices are anticipated to restrain the market growth. The footwear brands that are greatly affected by counterfeiting products are Adidas, UGG, Puma, and other well-known international brands. Online platforms have recorded large number of counterfeit shoe brands where the sellers use genuine product images stolen from brands and once the order is placed, they deliver the counterfeit products. Such factors are estimated to limit the footwear market growth during the review period.

High Demand for Branded, Comfortable, Fancy, & Affordable Footwear to Create Massive Investment Opportunities

The footwear industry is growing rapidly due to high demand for branded, comfortable, fancy footwears that are budget-friendly offer superior cushioning, prevents foot odor, and provides elegant look. The international players are focusing on raising the bar for comfort in shoes and also add enhanced designs. For instance, Adidas, the largest footwear manufacturer, launched new Adidas ZG21 in Jan 2021, a lighter golf shoe, that uses carbon-fiber plates embedded underfoot that are surrounded by light foam. These shoes are comfortable and helps the runners to boost their speed by reducing deviations during running. In addition, the use of 3D printing technology in shoes with original designs, insoles, that allows for rapid prototyping and new manufacturing processes are gaining huge popularity. Thus, new technologies focused on providing maximum comfort and endures fancy look at an affordable price are estimated to create huge opportunities in footwear market growth during the analysis period.

To know more about global footwear market opportunities, get in touch with our analysts here.

Global Footwear Market, by Type

Based on type, the market has been divided into athletic and Non-athletic footwear of which athletic footwear is projected to generate the maximum revenue and account for the fastest growth and non-athletic sub-segment is predicted to obtain the sub-sequent position.

Global Footwear Market, by Type

Source: Research Dive Analysis

The athletic footwear sub-segment is predicted to have a dominating market share in the global market and is expected to register a revenue of $249,266.8 million during the forecast period. The athletic footwear comprises of sports shoes that are worn by men, women, and children. The athletic footwear sub-segment has gained huge popularity as they are widely used in various sports activities such running, basketball, soccer, skating, and others. The increasing health awareness among all age groups has urged people to perform some kind of indoor and outdoor exercises. The growing importance of sports and fitness activities that ensures good health and reduces the risk of chronic disorders such as obesity, diabetes, and others is increasing the demand for athletic footwears. In addition, the use of athletic footwear for performing any sort of exercise prevents muscle injuries, back pain, knee pain, and offers maximum comfort. For instance, On June 19, 2020, Adidas, the top footwear manufacturer, has unveiled new innovative technology for runners known as Pulseboost HD. This technology offers excellent stability and best-in-class comfort. Thus, innovative technologies and advantages offered by athletic footwear are estimated to drive the market growth during the analysis period.

The Non-athletic footwear type is anticipated to have the significant market growth, and it is predicted that the market shall generate a revenue of $287,633.7 million by 2028, growing from $202,833.0 million in 2020. The non-athletic footwear comprises of sandals, formal shoes, flip-flops, boots, casual shoes, and other footwear which has become integral part of people’s lives. The increase in number of working professionals, fashion conscious female population, and increase in demand for variety of fashionable & trendy footwears by women is estimated to drive the growth of Non-athletic footwear type. The Non-athletic footwear offers modern finish, eye-catching prints, multi-colored patterns that are anticipated to have a significant impact on the market growth during the forecast period.

Global Footwear Market, by Material

Based on material, the analysis has been divided into leather and non-leather. Out of these, the non-leather sub-segment is projected to be the most dominant and fastest growing sub-segment in the global market.

Global Footwear Market, by Material

Source: Research Dive Analysis

The leather sub-segment of the global footwear market is anticipated to have rapid growth and surpass $242,065.1 million by 2028, with an increase from $153,133.6 million in 2020. The adoption of various leather footwears such as leather boots, shoes, heels, and wedges among the working professionals is increasing the demand for leather footwear. The various advantages offered by leather shoes such as high durability, elegant look, and breathable material to avoid unwanted odors are driving the market growth. Increased spending on fashion accessories due to growing influence of social media and high tendency towards the purchase of designer shoes are major factors driving the market growth.

Global Footwear Market, by End User

Based on end user the analysis has been divided into men, women, and children. Out of these women sub-segment is projected to generate maximum revenue and account for the fastest growth and men sub-segment is predicted to obtain the sub-sequent position in the global market.  

Global Footwear Market, by End User

Source: Research Dive Analysis

The women sub-segment of the global footwear market is anticipated to have a dominant market share and fastest growth surpassing $234,784.1 million by 2028, with an increase from $165,074.6 million in 2020. This is majorly owing to the availability of various types of fancy and trendy footwears such as leather shoes, sports shoes, heels, sandals, flip flops, sandals, slippers, and others. In addition, increasing awareness regarding physical appearance, growing influence of advertising platforms by leading brands are increasing the demand for women sub-segment. All these aspects are estimated to drive the growth of women sub-segment during the forecast period.

The men sub-segment is estimated to grow at the significant rate and is expected to register a revenue of $196,996.4 million during the analysis timeframe owing to growing popularity for athletic and non-athletic footwear. The growing popularity for athletic footwears is majorly owing to excellent performance, comfortability, and advancements in technology. The sports footwears are highly durable, has light weight, and provides slip resistance. In addition, increase in disposable income, improvements in standard of living, and increased spending on fashionable trendy are estimated to drive the growth of men sub-segment during the analysis period.

Global Footwear Market, by Distribution Channel

Based on distribution channel, the market has been divided into hypermarket/supermarket, specialty store, brand outlets, online sales channel, and others of which specialty store sub-segment is predicted to account for a dominant market share fastest growth, with hypermarket/supermarket sub-segment acquiring the subsequent position.

Global Footwear Market, by Distribution Channel

Source: Research Dive Analysis

The hypermarket/supermarket sub-segment is predicted to acquire significant market share in the global market and is expected to register a revenue of $139,304.5 million during the forecast period. Hypermarket/Supermarket offers one stop access to variety of footwears from various brands at attractive price. In hypermarket/supermarket the products are categorized and properly placed on the shelves with the price tag that provides complete details to the customers at a glance. In addition, availability of ample of parking space, various consumer goods, and convenient timings at the same place are estimated to drive the growth of hypermarket/supermarket sub-segment during the analysis period.

The specialty store sub-segment is anticipated to have the dominant market share and fastest growth, and it is predicted that the market is anticipated to generate a revenue of $215,156.5 million by 2028, growing from $157,183.8 million in 2020. Specialty stores are premium retail outlets that focus on selling particular brands and product range. These stores offer excellent customer service and expert guidance to the shoppers with the help of its knowledgeable staff. The footwear specialty stores also offer discounts that attract large number of customers. All these factors are anticipated to have a significant impact on the market growth during the forecast period.

Global Footwear Market, Regional Insights:

The footwear market was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Global Footwear Market, Regional Insights

Source: Research Dive Analysis

The Market for Footwear in Asia-Pacific to be the Most Dominant & Fastest Growing

The Asia-Pacific footwear market accounted $149,761.8 million in 2020 and is projected to register a revenue of $239,506.3 million by 2028. The rapid urbanization, developing economies and growing middle class consumers are estimated to drive the market demand owing to increase in health awareness, changing lifestyle habits, and innovative footwear products launched by various companies. For instance, in January 2020, Nike launched new lacing technology that adapts to the shape of the wearer’s foot and it is controlled via smartphone. Further, the innovative shoes for children such as Adidas Ultra Boost x Star Wars, Anta x Dragon Ball Super, and others are anticipated to drive the market growth in Asia-Pacific region in upcoming years.  

The Market for Footwear in North America to Acquire Significant Growth

The share of North America footwear market is anticipated to grow at a CAGR of 3.8% by registering a revenue of $115,162.7 million by 2028. The high spending on premium quality footwear, growing trend of fashionable shoes, and presence of high disposable income are estimated to drive the footwear market growth in North America region. Increase in demand for sustainable footwear that can be recycled and has minimum impact on environment is growing rapidly in North America and various companies are on the same. For instance, Adidas, the prominent footwear manufacturer, is actively working on developing sustainable products that are made from recycled polyester or sustainable cotton. The company claims that 60% of its products will be sustainable in 2021. Further, increase in health consciousness is another growth driving factor as people are involved in indoor & outdoor sports, physical exercises, and other activities thereby increasing the demand for athletic footwear. Significant rise in the number of working professionals in North America is leading to an increase in demand for non-athletic footwear such as formal shoes, sandals, flip flops, heels, wedges, and others. All these factors are estimated to boost the demand for North America footwear market in upcoming years.

Competitive Scenario in the Global Footwear Market

Product launches, acquisitions, and product innovations are common strategies followed by major market players.

Competitive Scenario in the Global Footwear Market

Source: Research Dive Analysis

Some of the leading footwear market players are Adidas AG, Nike, Inc., PUMA SE, Skechers USA, Inc., Under Armour, Inc, VF Corporation, Geox S.p.A, CROCS, Inc., Ecco Sko A/S, Wolverine World Wide, Inc.  

Porter’s Five Forces Analysis for the Global Footwear Market:

  • Bargaining Power of Suppliers: The suppliers in the footwear market are moderate in number. Several companies are working on innovations, acquisitions, and product launches to stay ahead in the market and to avoid changing the supplier if the there is a hike in the price of a particular material.
    Thus, the bargaining power suppliers is moderate.
  • Bargaining Power of Buyers: Buyers have high bargaining power as leading footwear manufacturers offers their products via online platforms and through retail channels. Also, various local footwear manufacturers operating in the market provides customers with wide choices. Thus, the buyers have high power as footwear is governed by price, new products, use of undifferentiated raw materials and benefits offered. 
    Thus, the bargaining power of the buyers is high.
  • Threat of New Entrants: The companies entering footwear market are adopting product innovations to develop best product at an affordable price. However, the setup cost involved in building footwear manufacturing plant is high. 
    Thus, the threat of the new entrants is moderate.
  • Threat of Substitutes: Availability of low- cost footwear increases the threat of substitutes especially in the developing countries. The product replica developed by the local players increases the threat of substitutes to some extent. 
    Thus, the threat of substitutes is moderate.
  • Competitive Rivalry in the Market: The competitive rivalry among industry leaders is high. The steady growth, high demand for trendy, comfortable footwears coupled with product launch and technological innovations are leading to an intense competition among the existing market players. 
    Therefore, competitive rivalry in the market is high.

Aspect

Particulars

  Historical Market Estimations

  2019-2020

  Base Year for Market Estimation

  2020

  Forecast Timeline for Market Projection

  2020-2028

  Geographical Scope

 North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Type

  • Athletic
  • Non-athletic

  Segmentation by Material

  • Leather
  • Non-leather

  Segmentation by End User

  • Men
  • Women
  • Children

  Segmentation by Distribution Channel

  • Hypermarket/Supermarket
  • Specialty Stores
  • Brand Outlets
  • Online Sales Channel
  • Others

  Key Companies Profiled

  • Adidas AG,
  • Nike, Inc.
  • PUMA SE
  • Skechers USA, Inc.
  • Under Armour, Inc
  • VF Corporation
  • Geox S.p.A
  • CROCS, Inc.
  • Ecco Sko A/S
  • Wolverine World Wide, Inc.

Frequently Asked Questions
 

A. The size of the global footwear market was over $360,090.9 million in 2020 and is projected to reach $536,900.5 million by 2028.

A. Adidas AG, Nike, Inc. and Skechers USA, Inc. are some of the major players operating in the footwear market.

A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.

A. Asia Pacific footwear market is anticipated to grow at 6.1% CAGR during the forecast period.

A. Acquisitions, product innovations, and product launch are the key strategies opted by the operating companies in this market.

A. Adidas AG, Nike, Inc. and Skechers USA, Inc. are investing more on R&D activities for developing new products and technologies.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.Type trends
2.3.Material trends
2.4.End User trends
2.5.Distribution Channel trends

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Market value chain analysis
3.9.Strategic overview

4.Footwear Market, by Type 

4.1.Athletic

4.1.1.Market size and forecast, by region, 2020-2028
4.1.2.Comparative market share analysis, 2020 & 2028

4.2.Non-athletic

4.2.1.Market size and forecast, by region, 2020-2028
4.2.2.Comparative market share analysis, 2020 & 2028

5.Footwear Market, by Material 

5.1.Leather 

5.1.1.Market size and forecast, by region, 2020-2028
5.1.2.Comparative market share analysis, 2020 & 2028

5.2.Non-leather 

5.2.1.Market size and forecast, by region, 2020-2028
5.2.2.Comparative market share analysis, 2020 & 2028

6.Footwear Market, by End User 

6.1.Men

6.1.1.Market size and forecast, by region, 2020-2028
6.1.2.Comparative market share analysis, 2020 & 2028

6.2.Women

6.2.1.Market size and forecast, by region, 2020-2028
6.2.2.Comparative market share analysis, 2020 & 2028

6.3.Children

6.3.1.Market size and forecast, by region, 2020-2028
6.3.2.Comparative market share analysis, 2020 & 2028

7.Footwear Market, by Distribution Channel

7.1.Hypermarket/Supermarket

7.1.1.Market size and forecast, by region, 2020-2028
7.1.2.Comparative market share analysis, 2020 & 2028

7.2.Specialty Store

7.2.1.Market size and forecast, by region, 2020-2028
7.2.2.Comparative market share analysis, 2020 & 2028

7.3.Brand Outlets

7.3.1.Market size and forecast, by region, 2020-2028
7.3.2.Comparative market share analysis, 2020 & 2028

7.4.Online Sales

7.4.1.Market size and forecast, by region, 2020-2028
7.4.2.Comparative market share analysis, 2020 & 2028 

7.5.Others

7.5.1.Market size and forecast, by region, 2020-2028
7.5.2.Comparative market share analysis, 2020 & 2028

8.Footwear Market, by Region

8.1.North America

8.1.1.Market size and forecast, by Type, 2020-2028
8.1.2.Market size and forecast, by Material, 2020-2028
8.1.3.Market size and forecast, by End User, 2020-2028
8.1.4.Market size and forecast, by Distribution Channel, 2020-2028
8.1.5.Market size and forecast, by country, 2020-2028
8.1.6.Comparative market share analysis, 2020 & 2028

8.1.7.U.S.

8.1.7.1.Market size and forecast, by Type, 2020-2028
8.1.7.2.Market size and forecast, by Material, 2020-2028
8.1.7.3.Market size and forecast, by End User, 2020-2028
8.1.7.4.Market size and forecast, by Distribution Channel, 2020-2028
8.1.7.5.Comparative market share analysis, 2020 & 2028

8.1.8.Canada

8.1.8.1.Market size and forecast, by Type, 2020-2028
8.1.8.2.Market size and forecast, by Material, 2020-2028
8.1.8.3.Market size and forecast, by End User, 2020-2028
8.1.8.4.Market size and forecast, by Distribution Channel, 2020-2028
8.1.8.5.Comparative market share analysis, 2020 & 2028

8.1.9.Mexico

8.1.9.1.Market size and forecast, by Type, 2020-2028
8.1.9.2.Market size and forecast, by Material, 2020-2028
8.1.9.3.Market size and forecast, by End User, 2020-2028
8.1.9.4.Market size and forecast, by Distribution Channel, 2020-2028
8.1.9.5.Comparative market share analysis, 2020 & 2028

8.2.Europe

8.2.1.Market size and forecast, by Type, 2020-2028
8.2.2.Market size and forecast, by Material, 2020-2028
8.2.3.Market size and forecast, by End User, 2020-2028
8.2.4.Market size and forecast, by Distribution Channel, 2020-2028
8.2.5.Market size and forecast, by country, 2020-2028
8.2.6.Comparative market share analysis, 2020 & 2028

8.2.7.UK 

8.2.7.1.Market size and forecast, by Type, 2020-2028
8.2.7.2.Market size and forecast, by Material, 2020-2028
8.2.7.3.Market size and forecast, by End User, 2020-2028
8.2.7.4.Market size and forecast, by Distribution Channel, 2020-2028
8.2.7.5.Comparative market share analysis, 2020 & 2028

8.2.8.Germany

8.2.8.1.Market size and forecast, by Type, 2020-2028
8.2.8.2.Market size and forecast, by Material, 2020-2028
8.2.8.3.Market size and forecast, by End User, 2020-2028
8.2.8.4.Market size and forecast, by Distribution Channel, 2020-2028
8.2.8.5.Comparative market share analysis, 2020 & 2028

8.2.9.France

8.2.9.1.Market size and forecast, by Type, 2020-2028
8.2.9.2.Market size and forecast, by Material, 2020-2028
8.2.9.3.Market size and forecast, by End User, 2020-2028
8.2.9.4.Market size and forecast, by Distribution Channel, 2020-2028
8.2.9.5.Comparative market share analysis, 2020 & 2028

8.2.10.Italy

8.2.10.1.Market size and forecast, by Type, 2020-2028
8.2.10.2.Market size and forecast, by Material, 2020-2028
8.2.10.3.Market size and forecast, by End User, 2020-2028
8.2.10.4.Market size and forecast, by Distribution Channel, 2020-2028
8.2.10.5.Comparative market share analysis, 2020 & 2028

8.2.11.Spain 

8.2.11.1.Market size and forecast, by Type, 2020-2028
8.2.11.2.Market size and forecast, by Material, 2020-2028
8.2.11.3.Market size and forecast, by End User, 2020-2028
8.2.11.4.Market size and forecast, by Distribution Channel, 2020-2028
8.2.11.5.Comparative market share analysis, 2020 & 2028

8.2.12.Rest of Europe

8.2.12.1.Market size and forecast, by Type, 2020-2028
8.2.12.2.Market size and forecast, by Material, 2020-2028
8.2.12.3.Market size and forecast, by End User, 2020-2028
8.2.12.4.Market size and forecast, by Distribution Channel, 2020-2028
8.2.12.5.Comparative market share analysis, 2020 & 2028

8.3.Asia Pacific

8.3.1.Market size and forecast, by Type, 2020-2028
8.3.2.Market size and forecast, by Material, 2020-2028
8.3.3.Market size and forecast, by End User, 2020-2028
8.3.4.Market size and forecast, by Distribution Channel, 2020-2028
8.3.5.Market size and forecast, by country, 2020-2028
8.3.6.Comparative market share analysis, 2020 & 2028

8.3.7.Japan

8.3.7.1.Market size and forecast, by Type, 2020-2028
8.3.7.2.Market size and forecast, by Material, 2020-2028
8.3.7.3.Market size and forecast, by End User, 2020-2028
8.3.7.4.Market size and forecast, by Distribution Channel, 2020-2028
8.3.7.5.Comparative market share analysis, 2020 & 2028

8.3.8.China 

8.3.8.1.Market size and forecast, by Type, 2020-2028
8.3.8.2.Market size and forecast, by Material, 2020-2028
8.3.8.3.Market size and forecast, by End User, 2020-2028
8.3.8.4.Market size and forecast, by Distribution Channel, 2020-2028
8.3.8.5.Comparative market share analysis, 2020 & 2028

8.3.9.India  

8.3.9.1.Market size and forecast, by Type, 2020-2028
8.3.9.2.Market size and forecast, by Material, 2020-2028
8.3.9.3.Market size and forecast, by End User, 2020-2028
8.3.9.4.Market size and forecast, by Distribution Channel, 2020-2028
8.3.9.5.Comparative market share analysis, 2020 & 2028

8.3.10.Australia & New Zealand

8.3.10.1.Market size and forecast, by Type, 2020-2028
8.3.10.2.Market size and forecast, by Material, 2020-2028
8.3.10.3.Market size and forecast, by End User, 2020-2028
8.3.10.4.Market size and forecast, by Distribution Channel, 2020-2028
8.3.10.5.Comparative market share analysis, 2020 & 2028

8.3.11.ASEAN

8.3.11.1.Market size and forecast, by Type, 2020-2028
8.3.11.2.Market size and forecast, by Material, 2020-2028
8.3.11.3.Market size and forecast, by End User, 2020-2028
8.3.11.4.Market size and forecast, by Distribution Channel, 2020-2028
8.3.11.5.Comparative market share analysis, 2020 & 2028

8.3.12.Rest of Asia Pacific

8.3.12.1.Market size and forecast, by Type, 2020-2028
8.3.12.2.Market size and forecast, by Material, 2020-2028
8.3.12.3.Market size and forecast, by End User, 2020-2028
8.3.12.4.Market size and forecast, by Distribution Channel, 2020-2028
8.3.12.5.Comparative market share analysis, 2020 & 2028

8.4.LAMEA

8.4.1.Market size and forecast, by Type, 2020-2028
8.4.2.Market size and forecast, by Material, 2020-2028
8.4.3.Market size and forecast, by End User, 2020-2028
8.4.4.Market size and forecast, by Distribution Channel, 2020-2028
8.4.5.Market size and forecast, by country, 2020-2028
8.4.6.Comparative market share analysis, 2020 & 2028

8.4.7.Latin America  

8.4.7.1.Market size and forecast, by Type, 2020-2028
8.4.7.2.Market size and forecast, by Material, 2020-2028
8.4.7.3.Market size and forecast, by End User, 2020-2028
8.4.7.4.Market size and forecast, by Distribution Channel, 2020-2028
8.4.7.5.Comparative market share analysis, 2020 & 2028

8.4.8.Middle East 

8.4.8.1.Market size and forecast, by Type, 2020-2028
8.4.8.2.Market size and forecast, by Material, 2020-2028
8.4.8.3.Market size and forecast, by End User, 2020-2028
8.4.8.4.Market size and forecast, by Distribution Channel, 2020-2028
8.4.8.5.Comparative market share analysis, 2020 & 2028

8.4.9.Africa

8.4.9.1.Market size and forecast, by Type, 2020-2028
8.4.9.2.Market size and forecast, by Material, 2020-2028
8.4.9.3.Market size and forecast, by End User, 2020-2028
8.4.9.4.Market size and forecast, by Distribution Channel, 2020-2028
8.4.9.5.Comparative market share analysis, 2020 & 2028

9.Company profiles

9.1.Adidas AG

9.1.1.Business overview
9.1.2.Financial performance
9.1.3.Product portfolio
9.1.4.Recent strategic moves & developments
9.1.5.SWOT analysis

9.2.Nike, Inc.

9.2.1.Business overview
9.2.2.Financial performance
9.2.3.Product portfolio
9.2.4.Recent strategic moves & developments
9.2.5.SWOT analysis

9.3.PUMA SE

9.3.1.Business overview
9.3.2.Financial performance
9.3.3.Product portfolio
9.3.4.Recent strategic moves & developments
9.3.5.SWOT analysis

9.4.Skechers USA, Inc.

9.4.1.Business overview
9.4.2.Financial performance
9.4.3.Product portfolio
9.4.4.Recent strategic moves & developments
9.4.5.SWOT analysis

9.5.Under Armour, Inc

9.5.1.Business overview
9.5.2.Financial performance
9.5.3.Product portfolio
9.5.4.Recent strategic moves & developments
9.5.5.SWOT analysis

9.6.VF Corporation

9.6.1.Business overview
9.6.2.Financial performance
9.6.3.Product portfolio
9.6.4.Recent strategic moves & developments
9.6.5.SWOT analysis

9.7.Geox S.p.A

9.7.1.Business overview
9.7.2.Financial performance
9.7.3.Product portfolio
9.7.4.Recent strategic moves & developments
9.7.5.SWOT analysis

9.8.CROCS, Inc.

9.8.1.Business overview
9.8.2.Financial performance
9.8.3.Product portfolio
9.8.4.Recent strategic moves & developments
9.8.5.SWOT analysis

9.9.Ecco Sko A/S

9.9.1.Business overview
9.9.2.Financial performance
9.9.3.Product portfolio
9.9.4.Recent strategic moves & developments
9.9.5.SWOT analysis

9.10.Wolverine World Wide, Inc.

9.10.1.Business overview
9.10.2.Financial performance
9.10.3.Product portfolio
9.10.4.Recent strategic moves & developments
9.10.5.SWOT analysis

Footwear is a type of human-made apparel that covers and protects the entire foot, including the soles. People may walk on rough areas like gravel roads without harming their feet thanks to footwear. Some styles of footwear, such as boots, can assist keep people’s feet warm or dry in extreme cold weather. Leather, plastic, and rubber are the most common materials used in modern footwear. Leather was in fact one of the first materials utilized in the creation of a shoe. The soles can be constructed of rubber or plastic, with a sheet of metal inserted sometimes.

Impact of COVID-19 on the Industry

The new coronavirus epidemic wreaked havoc on various businesses, including the footwear industry, which was hit hard by the entire lockdown. This resulted in supply chain interruptions, order postponements or cancellations, and a drop in export orders. The key companies operating in the RFID market are adopting several growth strategies & business tactics such as mergers & acquisitions, collaborations, partnerships, and launches to maintain a strong position in the overall market, which is expected to drive the growth of the global market in the coming years.

Furthermore, the global demand for footwear has decreased due to the closure of retail stores, supermarkets, manufacturing facilities, and premium outlets. Supply chain disruptions and a dramatic increase in the price of various raw materials have resulted from the closure of factories and production units in China. The export of footwear from India to other countries has dropped dramatically.

For example, Indian Retailer, the largest retail industry news service, reported on March 31, 2020 that Agra is India’s main footwear hub, sending shoes worth $406 million to European nations each year. The footwear export from Agra was severely harmed as a result of the pandemic, as these firms import numerous raw materials and components from China, including insoles, cellulose board, laces, foam, buckles, and other materials. The epidemic also had a significant impact on both offline and online footwear sales. Leading footwear firms’ premium outlet stores, such as Puma and Adidas were closed creating a negative impact on the global footwear market demand.

Several countries are assisting the society in recovering from the chaotic condition through technical breakthroughs and diverse initiatives. Many companies have used targeted and intelligent approaches to deal with the situation, with a greater emphasis on footwear sales via online platforms.

Key Developments in the Industry

The key companies operating in the global footwear market are adopting several growth strategies & business tactics such as mergers & acquisitions, collaborations, partnerships, and launches to maintain a strong position in the overall market, which is subsequently assisting the market to grow across the world.

For instance, in April 2019, Adidas, a leading firm in the footwear industry announced the launch of FUTURECRAFT. With this launch Adidas reaffirms its commitment to reducing plastic waste. LOOP is a performance running shoe that is 100 percent recyclable. The FUTURECRAFT is a futuristic technology. The LOOP project aims to address the issue of plastic waste by permitting a circular manufacturing paradigm or “closed loop” in which raw materials can be reused several times. These raw materials can not only be converted into a tote or a water bottle; but also into a new pair of high-performance athletic shoes.

  • For instance, in May 2021, PUMA, a global sports corporation, announced its partnership with the W Series, an international solitary motor racing show for female drivers. In 2021, PUMA will create racewear with a female-first design. PUMA Motorsport provided the drivers with high-performance, flame-resistant racewear during the W Series’ successful first season in 2019 and will continue as the Global Racewear Partner in 2021.
     
  • For instance, in December 2020, Crocs, Inc., a global leader in casual and innovative footwear for men, women and children, announced their fifth collaboration with Post Malone, an RIAA Diamond-certified music artist. The Post Malone x Crocs Duet Max Clog II, which was created in collaboration with Malone, comes in two colorways: black and pink.

Forecast Analysis of Footwear Market

The global footwear market is estimated to witness significant growth in the analysis period. This growth can be majorly attributed to product launches and alliances among market players, as well as product advancements, in order to attract customers and increase business. Changing lifestyle habits, emerging economies, and rise in health awareness amongst population that exercise regularly is predicted to drive the demand for footwear market.

The availability of different counterfeit products that replicate the original items and offer the counterfeit footwear at lower prices are projected to hinder the market growth. Puma, UGG, Adidas, and other well-known international brands are among the footwear names that are heavily impacted by counterfeiting. A considerable number of counterfeit shoe brands have been reported on online platforms, where dealers use authentic product photos stolen from brands and then deliver the counterfeit shoes once the transaction is done. These factors are anticipated to hamper the growth of the global footwear market in the forecast timeframe.

As per a newly published report by Research Dive, the global footwear market is predicted to garner $536,900.5 million by 2028. Geographically, the Asia Pacific market for footwear is estimated to dominate the global industry, owing to the changing lifestyle habits, innovative footwear products launched by various companies, and increase in health awareness amongst people. The key players operating in the global industry include Wolverine World Wide, Inc., Ecco Sko A/S, CROCS, Inc., Geox S.p.A, VF Corporation, Under Armour, Inc, Skechers USA, Inc., PUMA SE, Nike, Inc., and Adidas AG.

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