Worldwide Footwear Industry to 2027 - Increase in Social Media Marketing Presents Opportunities - ResearchAndMarkets.com

The "Footwear Market by Type, Material, End User and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.

According to this report the global footwear market size was valued at $365.5 billion in 2020, and is projected to reach $530.3 billion by 2027, registering a CAGR of 5.5% from 2020 to 2027.

Growing health and fitness awareness among people is boosting the growth of footwear market. Moreover, rise in trend of fitness exercises such as Zumba (a dance form) and Yoga (exercise activity) is generating huge demand for sports shoes among individuals. Rise in number of sport lovers and fan followers of sports such as football, basketball, and hockey is further creating higher demand for cleats and shoes required for these respective sports. In addition, upcoming Summer Olympic Games in 2020 in Tokyo is anticipated to create lucrative opportunities for market players to launch new products and endorse their products to enhance their offerings. Therefore, it will result in driving the growth of market.

Along with men and women, children now a days demand for fancy, stylish, colorful, and sports-inspired footwear. Increase in number of children engaged in various sports activities fuels the demand for athletic footwear. This has increased large demand for football, basketball, hockey, tennis, baseball and many other sports footwear among children. Along with sport footwear, stylish sneakers, flip-flops, slip-ons, boots, and casual shoes are witnessing huge demand among children, which drives the growth of the overall market.

Key Benefits

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the footwear market analysis from 2019 to 2027 to identify the prevailing market opportunities.
• The key countries in all the major regions are mapped on the basis of market share.
• The market forecast is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global industry.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global industry trends, key players, market segments, application areas, and market growth strategies.

Key Findings

• Depending on type, the non athletic segment dominated the global footwear market in 2019, and is expected to retain its dominance throughout the forecast period.
• By material, the non-leather segment accounted for highest share in the footwear market growth in 2019, and is projected to grow at a CAGR of 5.0% from 2020 to 2027.
• On the basis of end user, the women segment led the global footwear market demand in 2019, and is expected to retain its dominance throughout the forecast period.
• As per distribution channel, the specialty stores was the major shareholder in 2019, and is projected to register a CAGR of 4.3% from 2020 to 2027.
• Region wise, Asia-Pacific accounted for about 41.4% footwear market share in 2019, and is expected to grow at a CAGR of 6.5%.
  

Market Dynamics

Drivers

• Changes in Lifestyles
• Increase in Health Awareness
• Surge in Government Investment in Sports Events
• Rise in Number of Sports-Inspired Children

Restraints

• Availability of Counterfeit Products
• Government Rules and Regulation Towards Leather Products

Opportunities

• Rise in Demand for Fancy Yet Comfortable Footwear
• Increase in Social Media Marketing
  

Companies Mentioned

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

For more information about this report visit https://www.researchandmarkets.com/r/obdujm

View source version on businesswire.com: https://www.businesswire.com/news/home/20200713005375/en/