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: Companies lose customers during online holiday promotions...
02.01.2019   #data management #customer relationship management

Companies lose customers during online holiday promotions

Bad preference management equals frustrated customers

A recent survey from PossibleNOW uncovered that as many as 36 percent of businesses are not actively collecting customer preference data. Additionally, another 31 percent aren’t sure if they’re collecting this data. Many retailers will ...

Thumbnail-Photo: 2nd World Retail Forum, Amsterdam
07.03.2019   #event #artificial intelligence

2nd World Retail Forum, Amsterdam

The latest developments in the industry

World Retail Forum is a platform for retail professionals from across the globe to come together, share experiences and learn from top industry leaders and retail gurus. ...

Thumbnail-Photo: Fewer consumers celebrating Valentine’s Day...
07.02.2019   #seasonal business #consumer demand

Fewer consumers celebrating Valentine’s Day

Those who do are spending more

Americans are expected to spend a record amount on Valentine’s Day this year despite a years-long decrease in the percentage of people celebrating the holiday, according to the annual survey released today by the National Retail Federation and ...

Thumbnail-Photo: Digital Sales Summit in Hannover
08.01.2019   #e-commerce #digitization

Digital Sales Summit in Hannover

The E-Commerce Event

The Digital Sales Summit will be held for the first time in Hanover on 21 February.An extraordinary location and a LineUp which you have never seen before in the eCommerce industry, this is the easiest way to describe the Digital Sales Summit.In his ...

Thumbnail-Photo: Good news for brick and mortar retailers
08.03.2019   #brick and mortar retail #in-store marketing

Good news for brick and mortar retailers

71 percent of shoppers are spending more in-store than online

Both men and women are spending significantly more in-store than online during a typical shopping visit according to a new report, by First Insight, Inc. The company, which recently surveyed consumers on shopping habits, purchase behavior and ...

Thumbnail-Photo: U.S. prestige beauty industry sales grow six percent in 2018...
07.02.2019   #brick and mortar retail

U.S. prestige beauty industry sales grow six percent in 2018

Artisanal fragrance was the fastest growing aspect of the market

The U.S. prestige beauty industry reached 18.8 billion dollar in 2018, a six percent sales increase over 2017, according to The NPD Group. The skincare category grew by 13 percent and contributed 60 percent of the industry’s total gains; ...

Thumbnail-Photo: Retail jobs grew nearly 15,000 in January over December...
07.02.2019   #retail #economy

Retail jobs grew nearly 15,000 in January over December

The economy seems to be in a good place

Retail industry employment in January was down by 15,100 jobs unadjusted from a year earlier but increased 14,800 jobs seasonally adjusted from December, the National Retail Federation said today. The retail numbers, which exclude automobile ...

Thumbnail-Photo: The new power of the consumer
20.03.2019   #customer satisfaction #trend research

The new power of the consumer

Trend Radar Study 2019: why shoppers love product ratings

A global study on the “rating economy” shows that product ratings are growing in importance, impacting shopping behavior and brand loyalty.Customers are relying less on marketing messages, and the balance of power is shifting toward the ...

Thumbnail-Photo: PANORAMA Berlin January 15-17, 2019
19.12.2018   #event #fashion

PANORAMA Berlin January 15-17, 2019

The largest fashion marketplace in Europe

True to the meaning of the word panorama, PANORAMA BERLIN offers a broad overview of national and international mens and womenswear collections. Thereby, it enriches the international trade fair landscape consistently with strong and relevant new ...

Thumbnail-Photo: Retailer app identifies counterfeit products and strengthens customer...
21.01.2019   #app #labels

Retailer app identifies counterfeit products and strengthens customer relationships

Secure barcodes on paper labels offer retailers and customers many benefits

Counterfeit goods prompt harmful financial losses due to a loss of sales and profits, decreased tax revenues and by threatening jobs – and this doesn’t just impact retailers and manufacturers. According to EUIPO (The European Union ...

Supplier

Westiform GmbH & Co. KG
Westiform GmbH & Co. KG
Kinzigtalstrasse 2
77799 Ortenberg