Press Release
Press Release
According to a new report by EMR titled, ‘The United States Footwear Market Report and Forecast 2024-2032’, the market attained a value of nearly USD 97.72 billion in 2023. The footwear market is further estimated to grow at a CAGR of 3.8% between 2024 and 2032 to reach USD 136.96 billion by 2032.
The growth of the United States footwear market is fueled by the increasing demand for comfortable footwear for everyday usage that offers features such as cushioned insoles, padding on sandals, and flexible outsoles, among others. Footwear, made from materials like leather, plastic, rubber, and synthetics, serves purposes ranging from protection and comfort to aesthetic appeal. Encompassing shoes, boots, sandals, and slippers, footwear protects feet from injuries and harsh environments. Modern footwear integrates advanced technology for support and comfort, catering to activities like running and hiking, while also playing a key role in fashion and individual style.
Fig.: Top Five Athletic Footwear Brands with the Largest Revenue Shares, 2023
The rising demand for vibrant colours like neon and hot pink, along with bold patterns, adds a fun and expressive element to footwear, driving growth in the US market. These trends allow individuals to showcase their personality through their choice of shoes.
Amid the rising trend of sustainable fashion, many footwear manufacturers are incorporating eco-friendly materials like natural fibers, ethically sourced leather, vegan leather, and recycled polyester into their products. This shift towards renewable resources reflects a commitment to environmental responsibility and resonates with consumers seeking sustainable options.
Increased investments in online and print advertising by footwear brands are boosting market visibility and driving growth in the U.S. footwear market. Additionally, there is a growing demand for athletic footwear with cushioned insoles and other supportive features to enhance the performance of sports professionals. These trends highlight the focus of footwear manufacturers on both effective promotion and offering improved comfort to consumers.
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The major players in the United States footwear market are Nike, Inc., adidas AG, PUMA SE, New Balance Athletics, Inc., ASICS Corporation, Skechers U.S.A., Inc., Under Armour, Inc., FILA Luxembourg, S.a.r.l., Okabashi Brands, Inc., and The Aldo Group Inc., 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 Product |
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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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Companies Covered |
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