Global Footwear Market to Grow at a CAGR of 4.9% During 2024-2032, Aided by the Growing E-Commerce Sector

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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Market Breakup by Type, Material, Pricing, End Use, Distribution Channel, and Region:

• The market, on the basis of type, can be bifurcated into athletic footwear and non-athletic footwear.

• Based on material, the market can be divided into rubber, leather, plastic, and fabric, among others.

• The market, on the basis of pricing, can be classified into premium and mass.

• Based on end use, the market can be segmented into men, women, and kids.

• The market, on the basis of distribution channel, can be divided into supermarkets and hypermarkets, footwear specialists, departmental stores, clothing stores, and online, among others.

• The major regional markets for footwear include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global footwear market demand is being driven by the increasing demand for stylish, trendy, and comfortable footwear across all age groups.

• The market is fuelled by the increasing popularity of sports-focused footwear. Additionally, substantial investments by governments and global organisations to promote sports leagues and participation serve as key drivers supporting the market growth.

• The pervasive influence of athleisure, particularly among millennials, is surging the demand for athletic footwear.

• There is an increasing demand for footwear from e-commerce channels due to their convenience, attractive discounts, and wide product assortment.

Key Offerings of the Report:

• The EMR report gives an overview of the global footwear market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the types, materials, pricing, end uses, distribution channels, and major regions of footwear.

• The market report also analyses the trade data by covering the major importing and exporting countries.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

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.

Key Highlights of the Report

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