The global 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.

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.

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).

Regional Analysis

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.

Complete Report Details @ https://www.marketresearchfuture.com/reports/footwear-market-8037

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.

Key Developments

June 2019: Nike Corporation introduced a new product in India under the brand name of “Air Jordan 7 Retro Sp”.

March 2019: Nike Corporation increased the production of its renowned brand Adapt due to the increasing consumer inclination toward the auto-lacing technologies.

October 2017: Adidas AG increased the production capacity of its plant in Germany and opened a production facility in Ansbach, Germany.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact Us:

Market Research Future

Email: [email protected]

Office No. 528, Amanora Chambers

Magarpatta Road, Hadapsar,

Pune - 411028

Maharashtra, India

+1 646 845 9312a