News • 15.03.2019

Footwear market expected to grow rapidly

Application insights, latest trends, developments, and forecasts to 2021

Shoes; Copyright: Clem Onojeghuo/Unsplash
Source: Clem Onojeghuo/Unsplash

Global Footwear Market is expected to grow at a significant CAGR in the upcoming years as the scope and its applications are rising enormously across the globe. Footwear is a garment worn on the feet to protect and comfort against adversities of the environment like temperature and ground textures. Moreover, it is used as a fashion statement. 

High demand for sportswear among customers as growing sports activity, growth in shoe-knitting technology of the footwear, and rising adoption of enhanced technologies are documented as major factors of Footwear Market that are estimated to enhance the growth in the years to come. Footwear Market is segmented based on product type, material, distribution channel, end users, and region. Non-athletic footwear and athletic footwear are the product types that could be explored in Footwear in the forecast period. 

Non-athletic footwear comprises lite hiking outdoor sandals, casual footwear, military boots, and dress evening footwear. Athletic footwear sector comprises baseball shoes, running and cross training/tennis shoes, hiking shoes, golf shoes, and basketball shoes. In terms of volume and revenue, non-athletic sector may account for the substantial market share in the coming years. Plastic, rubber, leather, cotton, jute, and other material types could be explored in Footwear in the forecast period. Departmental stores, online channels, textile retailers, shoe stores, independent retail stores, supermarkets and hypermarkets, and other distribution channels could be explored in Footwear in the forecast period. The market may be categorized based on end users like kid's footwear, men's footwear, and women's footwear that could be explored in the forecast period.

Footwear Market is segmented geographically into Americas (North America, South America, and Latin America), Europe (Eastern Europe, Western Europe), Asia Pacific (India, China, Japan, New Zealand, and Australia), Latin America(Mexico, Argentina, and Brazil), Middle East (UAE, Saudi, and Qatar) and Africa (South Africa). Globally, North Americamay account for the substantial market share of Footwear in terms of revenue and is estimated to lead the overall market in the coming years. 

The reason behind the overall market growth could be growing participation of the people in fitness activities like aerobics, basketball, volleyball, squash, and tennis. Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR in the foremost period. 

The key players of Footwear Market are New Balance, Adidas Group, Fila, Nike, PUMA, BATA BRANDS, HUGO BOSS, Burberry, Jimmy Choo, Alexander McQueen, Hermès, DOLCE&GABBANA, VF Corporation, and Guccio Gucci. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.

Source: Radiant Insights, Inc.

related articles:

popular articles:

Thumbnail-Photo: How ugly labels can increase purchase of unattractive produce...
05.03.2021   #sales promotion #product presentation

How "ugly" labels can increase purchase of unattractive produce

Why do consumers reject unattractive produce?

Researchers from University of British Columbia published a new paper in the Journal of Marketing that examines whether and how the use of 'ugly' labeling for unattractive produce increases sales and profit margins.The study, forthcoming in ...

Thumbnail-Photo: Say hello to E-commerce Berlin Virtual Edition!...
25.03.2021   #e-commerce #digital marketing

Say hello to E-commerce Berlin Virtual Edition!

Free virtual conference on May 26-27th 2021

The COVID-19 still has a significant impact on us all, which has led us to postpone E-commerce Berlin Expo 2021, and fill the gap with E-commerce Berlin - Virtual Edition.Based on participants' expectation we intend to keep the event onsite, so ...

Thumbnail-Photo: Navori Labs Unleashes AI Marketing Software
23.02.2021   #digital signage #data analysis

Navori Labs Unleashes AI Marketing Software

Navori expands into the AI-Computer Vision driven analytics world with Aquaji t ohelp retailers

With nearly 25 years of digital signage innovation, Navori expands into the AI-Computer Vision driven analytics world with Aquaji to help retailers, digitalout-of home (DOOH) networks and other physical businesses measure performance, strengthen ...

Thumbnail-Photo: Instacart hires former Facebook Vice President of Product...
08.02.2021   #e-commerce #social media

Instacart hires former Facebook Vice President of Product

Asha Sharma as new Chief Operating Officer

Instacart’s goal is to look more holistically at the end-to-end customer experience and better operationalize it across the company. To help achieve that, they’re welcoming an operator and entrepreneurial product leader in Asha Sharma to ...

Thumbnail-Photo: How the industry thinks: The most important trends for 2021...
05.01.2021   #brick and mortar retail #digitization

How the industry thinks: The most important trends for 2021

What awaits retailers after the first Corona year?

2020 – most certainly not an easy year. But many agree: The only way forward is to look ahead. So we asked industry insiders – retailers, academics, manufacturers – what they expect for this year. How will changing customer ...

Thumbnail-Photo: Food mail order between 1931 and 2021
01.03.2021   #online trading #e-commerce

Food mail order between 1931 and 2021

Specialty retailer Jungborn does e-commerce for seniors

Food and online retail – the two terms don't always go together in Germany. And then e-commerce for seniors on top of that? It is precisely in this niche that specialty mail order company Jungborn wants to establish itself. And it has been ...

Thumbnail-Photo: Will people soon be shopping at the Club?
22.02.2021   #digital marketing #app

Will people soon be shopping at the "Club"?

Marketing opportunities of the new social media app Clubhouse.

WhatsApp, TikTok, Instagram, Snapchat - many retailers use the platforms to get their products to customers - that's nothing new. Recently, users have been able to meet in the "Clubhouse." Marcel Hollerbach, CMO of Productsup, talks ...

Thumbnail-Photo: The car’s the star
19.01.2021   #food retail #self service

The car’s the star

GB’s drive-thru grows in popularity

The trend for ordering food and drinks from our cars at Britain’s growing number of drive-thru restaurants soared from September to November 2020 according to global information company The NPD Group. There were 121 million visits to ...

Thumbnail-Photo: Retail industry lags behind in customer experience strategy...
03.03.2021   #customer satisfaction #digitization

Retail industry lags behind in customer experience strategy

Lack of data and analytics hinders successful customer experience delivery

NTT Ltd. announced its Retail Guide to the Global Customer Experience Benchmarking Report which shows that the retail sector is particularly lagging behind in customer experience (CX) compared with the all industry benchmark. However, retailers ...

Thumbnail-Photo: British shoppers visit variety discounters for grocery shopping...
09.04.2021   #brick and mortar retail #food retail

British shoppers visit variety discounters for grocery shopping

Variety discounters to grow at four times the speed of UK food and grocery market

New research from IGD reveals that variety discounters – Home Bargains, B&M, Poundland, Wilko and smaller players – will be worth £12.6bn by 2022, up from £11.1bn in 2020. The channel will take a 5.8% share of the overall ...

Supplier

Seven Senders GmbH
Schwedter Straße 36 A
10435 Berlin
Navori Labs
Navori Labs
Rue du lion d'or 4
1003 Lausanne
iXtenso - Magazin für den Einzelhandel
iXtenso - Magazin für den Einzelhandel
Celsiusstraße 43
53125 Bonn
EuroShop
EuroShop
Stockumer Kirchstraße 61
40474 Düsseldorf