Footwear Market Outlook
The footwear market is expected to be growing at a growth rate of 12.83% in the forecast period of 2021 to 2028. Footwear market report analyses the growth, which is currently being growing due to the rising awareness among consumers in sports activities, both men and women.
Global “Footwear Market” Research Report 2021-2027 is a historical overview and in-depth study on the current future market of the Footwear industry. The report represents a basic overview of the Footwear market share, competitor segment with a basic introduction of key vendors, top regions, product types, and end industries. This report gives a historical overview of the medical footwear trends, growth, revenue, capacity, cost structure, and key driver’s analysis. The report further investigates and assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the Footwear market.
The potential of eCommerce platforms is high in the developing economies of Brazil and Colombia. The large consumer base and influence of celebrity culture can work in favor of the market. But lack of proper infrastructure and slow internet speeds can dampen the market growth.
Competition Outlook
VF Corporation, New Balance Athletics, Inc., ECCO Sko A/S, Skechers USA, Incorporation, The Columbia Sportswear Company, Wolverine Worldwide, Inc., Adidas AG, Nike Corporation, AeroGroup, Kering S.A., Deichmann SE, Asics Corporation, Geox S.p.A, Crocs Retail, Inc., and Under Armour Inc. are key players of the global Footwear Industry.
Segmentation
The global Footwear Market has been segmented by product type, category, end user, and distribution channel.
The global Footwear Market has been classified, based on product type, into sports footwear, formal footwear, and casual footwear. Casual footwear is expected to rake in a massive share of the market owing to the preference for sneakers among the public. The various designs and use of polymers have made it convenient and easy to wash and thus driving sales in the global Footwear Market.
The global Footwear Market has been bifurcated, by category, into open footwear and closed footwear.
The global Footwear Market is segmented by end users into men and women.
The global Footwear Market has been classified, based on distribution channel, as store-based and non-store based. Store-based distribution channel has been further segmented into supermarkets and hypermarkets, specialty stores, and others.
Regional Analysis
The global Footwear Market Share has been analyzed for four key regions—North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World (RoW).
APAC is expected to dominate the market due to improved standards of living among the masses and increased purchasing power. Changes in economic policies in China are likely to trigger the demand for footwear for children.
Europe is expected to display a stable growth rate over the forecast period. The rise of online shopping and growing social media awareness can foster growth in the global Footwear Market. Sales of athleisure are likely to drive the demand for sports footwear and bolster the demand in the global market.
In RoW, the Middle East can capture a major share of the market. On the other hand, Latin American countries can generate significant revenue due to the influence of sports and the worship of celebrity culture. Venezuela, Brazil, and Colombia can contribute to the market as well.
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