Footwear Market to Expand with a CAGR of 3.0% due to Rising Sports and Physical Activities, Says Transparency Market Research

Footwear Market to Impel Due to Increasing Sports Activities

Albany, New York, Dec. 10, 2018 (GLOBE NEWSWIRE) -- The global footwear market is likely to experience high immense competition due to the rising number of new players entering in the market. The competition in the market is also fierce as the leading players operating in the market are offering different variety of products to their customer. This will not only increase the competition in the market but it will also help them in gaining higher share in the market and increase their geographical reach. Skechers USA Inc., Nike Inc., Puma SE, Asics Corp., Adidas AG, New Balance Inc., Sympatex Technologies GmbH, Bata Limited, Columbia Sportswear Company, VF Corp., The Aldo Group Inc., Kathmandu Holdings Limited, Deichmann SE, and Jack Wolfskin are the key players operating in the global footwear market.

According to a recent research published by Transparency Market Research, the global footwear market is anticipated to progress at 3.0% CAGR during the forecast period between 2017 and 2025. Expanding at this growth rate, the valuation of market is projected to touch US$ 278.8 bn by the end of 2025.  In 2016, the market was valued at US$215.7 bn.

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In terms of product type, the non-athletic segment is likely to lead the global market in terms of revenue and volume. As of 2016, this segment held 64.0% share in the overall market and is expected to hold maximum share in the coming years. On regional front, North America held 35.6% of share in the global market in terms of revenue. On the other hand, Asia Pacific held 40.5% share in the same year in terms of volume.

Rising Demand for Innovative Footwear to Boost Market Growth

The global footwear market has grown significantly on the back of rising demand for new and different types of footwear. Nowadays, individuals are interested in maintaining their physical fitness. They are also engaged in various sports activities that has led the demand for sportswear. Moreover, increasing retail culture that provided huge variety of footwear has also fueled the growth in this market. Rising demand for innovative footwear products is also expected to propel the demand in this market. In addition, increasing demand for new and different footwear from women, children, and men will further drive the demand in the global footwear market.

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Increasing Availability of Counterfeit Products to Deter Market Performance

Despite, the growing demand for footwear few restraining factors that might hamper the growth in the global footwear market. One of the major factor deterring the growth in this market is increasing counterfeiting of products. The manufactures are exact copy of the original products that makes it difficult to distinguish between original and counterfeit goods. This has largely affected the profit margins of the big companies and original manufacturers.

The information presented in this review is based on a TMR report, titled “Footwear Market (Product - Athletic Footwear (Running and Cross Training/Tennis Shoe, Soccer/football Shoe, Golf Shoe, Hiking Shoe, Baseball Shoe) and Non-Athletic Footwear (Casual Footwear, Dress Evening Footwear, Military Boots, Lite Hiking Outdoor Sandal; End Use - Men’s Footwear, Women’s Footwear, and Kid’s Footwear; Material - Rubber and Plastic; Distribution Channel - Online Channel, Shoe Stores, Supermarkets and Hypermarkets, Independent Retail Stores, Textile Retailers, Departmental Stores) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025.”

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The Global Footwear Market has been segmented as presented below:

Global Footwear Market: By Product: 

• Athletic Footwear
  • Running and Cross Training/Tennis Shoe
  • Soccer/football Shoe
  • Golf Shoe
  • Hiking Shoe
  • Baseball Shoe
• Non-Athletic Footwear
  • Casual Footwear
  • Dress Evening Footwear
  • Military Boots
  • Lite Hiking Outdoor Sandal

Global Footwear Market: By End Use:

• Men’s Footwear
• Women’s Footwear
• Kid’s Footwear

By Material:

• Rubber
• Plastic

Global Footwear Market: By Distribution Channel:

• Online Channel
• Shoe Stores
• Supermarkets and Hypermarkets
• Independent Retail Stores
• Textile Retailers
• Departmental Stores

Global Footwear Market: Geography

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Italy
  • Spain
  • France
  • Germany
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of South America
• Middle East & Africa (MEA)
  • Saudi Arabia
  • South Africa
  • Rest of MEA

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