Press Release
Press Release
Footwear encompasses a diverse range of products such as shoes, boots, sandals, sneakers, slippers, heels, loafers, flats, moccasins, and clogs, among others. The footwear market growth is experiencing an uptick amid the growing need for trendy, comfortable, and sports-oriented footwear. This surge is driven by the increasing engagement in sports activities and a rising preference for eco-friendly shoe options.
The market expansion is further being fuelled by the increasing prevalence of online sales, substantial investments in advertising by footwear brands, and a heightened desire for athletic footwear. Additionally, the growing occurrences of lifestyle-related health concerns, including stress and obesity, are motivating a greater portion of the population to participate in sports and fitness pursuits, consequently driving the demand for fashionable and comfortable footwear.
Regionally, the Asia Pacific is expected to hold a significant share of the global market during the forecast period. Japan, Taiwan, India, and China stand out as lucrative markets in the Asia Pacific, driven by the rising disposable incomes and improved living standards of consumers.
In April 2023, Skechers USA Inc. (NYSE: SKX) announced its decision to acquire Sports Connection Holding ApS, its current distributor in Scandinavia. The acquisition includes 58 Skechers retail outlets, multiple e-commerce platforms, and a network of over 1,600 wholesale customers. Following the completion of the deal, Sports Connection is expected to function as a wholly owned subsidiary of Skechers, taking a leading role in advancing the brand's expansion across the Nordic countries, encompassing Denmark, Finland, Norway, Sweden, Greenland, and the Faroe Islands.
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The major players in the global footwear market are Nike, Inc., PUMA SE, Skechers USA, Inc., Adidas AG, VF Corporation, TBL Licensing LLC, Crocs Retail, LLC, Under Armour®, Inc., Jimmy Choo S.r.l., FILA Holdings Corp., Prada S.p.A., Burberry Group Plc, Wolverine World Wide, Inc, and Bata Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Material |
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Breakup by Pricing |
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Breakup by End Use |
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Breakup by Distribution Channel |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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