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38% of Growth to Originate from North America for Footwear Market: By Product, End-user, Distribution channel, and Geography | Technavio

·6 min read

NEW YORK, Dec. 15, 2021 /PRNewswire/ -- Footwear Market Facts at a Glance-

Attractive Opportunities in Footwear Market by Product, End-user, Distribution Channel, and Geography - Forecast and Analysis 2021-2025
Attractive Opportunities in Footwear Market by Product, End-user, Distribution Channel, and Geography - Forecast and Analysis 2021-2025
  • Total Pages: 120

  • Companies: 10+ – Including adidas AG, ASICS Corp., Burberry Group Plc, New Balance Athletics Inc., Nike Inc., PUMA SE, Skechers USA Inc., Under Armour Inc., VF Corp., and Wolverine World Wide Inc. among others.

  • Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape

  • Segments: Product (non-athletic footwear and athletic footwear), End-user (women, men, and children), Distribution channel (offline and online)

  • Geographies: APAC (China, Japan, India, Australia, and New Zealand), Europe (UK, Germany, France, Italy, and Spain), North America (U.S, Canada, and Mexico), South America, and MEA

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According to the recent market study by Technavio, the Footwear Market Share in Footwear Industry is expected to increase by USD 16.85 billion from 2020 to 2025, with an accelerated CAGR of 1.13%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.

APAC will register the highest growth rate of 38% among the other regions. China and India are the key markets for footwear. Moreover, market growth in APAC will be faster than the growth of the market in other regions.

Download FREE Sample: for more additional information about the key countries in APAC

Vendor Insights-

The footwear market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Burberry Group Plc - In May 2021, the company launched a series of global pop-ups to celebrate the brand signature Olympia bag, with the first opening in Harrods. which is specially designed to offer an even smoother and more cushioned ride.

ASICS Corp. - In April 2021, the company launched MAGIC SPEED, which offered high-level performance and energy efficiency to help runners go for longer and faster.

Under Armour Inc. - In February 2021, the company unveiled its fastest performance running shoe, UA Flow Velociti Wind.

Find additional highlights on the vendors and their product offerings. Download Free Sample Report

Regional Market Outlook

The footwear market in APAC is expected to garner significant business opportunities for the vendors during the forecast period. China and India are the key markets for footwear in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The rising disposable incomes of people, the increasing preference for premium footwear, and the growing health consciousness among people will facilitate the footwear market growth in APAC over the forecast period.

Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.

Latest Drivers & Trends Driving the Market-

  • Footwear Market Driver:

The vendors are constantly innovating and introducing new patterns and designs due to market competition and evolving customer demand because of continuous changes in the fashion industry. Customers seek footwear for formal, especially leather footwear, and casual, such as sports or canvas shoes, purposes. Therefore, the vendors regularly expand their brand and product lines. Athletic footwear belongs to the promoted product segment. The demand for such footwear has been increasing because of the availability of innovative products, which offer premium appeal, that can also be used as partywear. High demand and premiumization allow manufacturers to increase the price of their products. Innovations in designs and celebrity endorsements of products have enabled vendors to cater to the demand from the high-income customer base. Key vendors design personalized and customized athletic shoes to expand their customer base.

  • Footwear Market Trend:

Customization is available for various types of footwear. The customization of premium footwear includes the application of hard metals, such as gold and silver, and precious stones, such as diamonds. In the last five years, the popularity of customized products has increased in developed regions such as the Americas and Europe. Emerging countries, such as China and India, are also experiencing a growing demand for customized premium goods, including premium footwear. In the premium segment, the leading vendors offer customized products, which have an aesthetic appeal. The extent of personalization can vary from design, logo, color, buckles to embroidery or adding names. The advent of the customization of footwear globally complements market growth through new purchases. During the forecast period, the customization of footwear is expected to increase the revenues of the footwear manufacturers.

Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.

Here are Some Similar Topics-

High Heels Footwear Market by Distribution Channel and Geography - Forecast and Analysis 2021-2025: The high heels footwear market share is expected to increase by USD 1.70 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 1.35%. Download Exclusive Free Sample Report

Sports Footwear Market by Product, End-user, Distribution Channel, Application, and Geography - Forecast and Analysis 2021-2025: The sports footwear market has the potential to grow by USD 8.36 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 1.95%. Download Exclusive Free Sample Report

Footwear Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 1.13%

Market growth 2021-2025

$ 16.85 billion

Market structure

Fragmented

YoY growth (%)

-0.72

Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 38%

Key consumer countries

US, China, UK, Germany, France, and India

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

adidas AG, ASICS Corp., Burberry Group Plc, New Balance Athletics Inc., Nike Inc., PUMA SE, Skechers USA Inc., Under Armour Inc., VF Corp., and Wolverine World Wide Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio