Footwear Market | Industry, Size, Share, Analysis, Price, Trends, Growth, Report 2020-2027

Japan, Japan, Fri, 16 Jul 2021 01:26:01 / Comserve Inc. / -- Adidas AG, Nike, Inc., PUMA SE, Skechers USA, Inc., Under Armour, Inc, VF Corporation, Geox S.p.A, CROCS, Inc., Ecco Sko A/S, Wolverine World Wide, Inc.

According to Research Dive analysis, the global footwear market is estimated to generate a revenue of $536,889.2 million by 2028, increasing from $360,090.9 million in 2020, at a healthy CAGR of 5.2%

Impact Analysis of COVID-19 on the Global Footwear Market:

The global footwear market experienced a negative impact due to disruption of labor, availability of raw materials, disruption in supply chain and complete shutdown of hypermarkets/supermarkets, specialty stores, brand outlets, and others. Due to pandemic many sports events such as 2020 Summer Olympics to be held in Tokyo, ICC Men's T20 World Cups, and others were postponed that has led to decline in demand for athletic footwear that are widely used for sport activities such as running, basketball, football, and others. The use of athletic footwear for sports offers superior cushioning, tortional stability, breathability, slip resistance, and others. Also, due to lockdown restrictions outdoor and indoor games have been cancelled that has led to decline in demand for footwear especially the athletic footwear. The shutting down of manufacturing units in China, has led to supply chain disruptions such as decline in export orders or order cancellations, due to shortage of raw materials required for footwear manufacturing. Furthermore, many countries have imposed restrictions on delivery of non-essential goods that has led to decline in demand for footwear globally. All these factors have created negative impact on the global footwear market during the pandemic.

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Footwear Market Analysis:

The global footwear market experienced appreciable growth due to increase in health-conscious population, and growth in the number of working professionals. Increase in chronic diseases such as obesity, diabetes, cardiovascular disorders, and others due to lack of exercise has led to increase in number gyms, fitness clubs, and other sport activities. This has subsequently led to increase in demand for athletic shoes that offers flexibility, tortional stability, slip resistance, and superior cushioning. Increase in purchasing power due to rising disposable income and large number of working professionals has led to an increase in demand for trendy leather shoes, sandals, flip flops, heels, wedges, and others. The sedentary lifestyle habits have urged people to perform certain physical exercises such as running, walking that helps them in managing their health. The flourishing e-commerce segment, that offers variety of footwear product from different brands under a single roof with attractive discounts are estimated to drive the footwear market demand. All these factors are estimated to drive the footwear market growth during the review timeframe.

The availability of counterfeit footwear products that imitate the design of original brands such as Nike, Puma, Adidas, and others and offer footwear at lower price is one of the restraining factors that is anticipated to have a negative impact on the footwear market during the analysis period.

The footwear industry is growing rapidly owing to increase in technological advancements, product innovations, development of sustainable products. For instance, Skechers, a California-based footwear company, collaborated with Goodyear, the tire & rubber company for the launch of high-tech product named Goodyear Performance Outsoles in February 2020, that offers durability and long-lasting wear. The wide range of Skechers running and walking sneakers features the Goodyear Performance Outsoles that offers excellent stability and grip over slippery surfaces. In addition, Everlane, the American clothing retailer, has launched summer shoe ‘Day Glove ReKnit' in June 2020, that is entirely made from recycled polyester with cushioned leather insole for comfort. It has customized fit that can mold to the wearer's foot to provide maximum comfort. All these factors are predicted to generate huge opportunities for the growth of footwear market during the forecast period.

Based on type, the global market for footwear is divided into athletic and non-athletic. The athletic sub-segment is projected to have the fastest market growth and generate a revenue of $249,266.8 million by 2028.

Based on geographical scope, the market was investigated across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific footwear is anticipated to rise at a growth rate of 6.1% by 2028 from the revenue generated in 2020.

The companies involved in the global footwear market are Adidas AG, Nike, Inc., PUMA SE, Skechers USA, Inc., Under Armour, Inc, VF Corporation, Geox S.p.A, CROCS, Inc., Ecco Sko A/S, Wolverine World Wide, Inc.

Based on material, the market is classified into leather and non-leather. The non-leather sub-segment garnered $206,957.3 million in 2020 and is projected to grow exponentially by 2028.

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Table of Content

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.Type trends
2.3.Material trends
2.4.End User trends
2.5.Distribution Channel trends

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter's five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Market value chain analysis
3.9.Strategic overview

4.Footwear Market, by Type

4.1.Athletic

4.1.1.Market size and forecast, by region, 2020-2028
4.1.2.Comparative market share analysis, 2020 & 2028

4.2.Non-athletic

4.2.1.Market size and forecast, by region, 2020-2028
4.2.2.Comparative market share analysis, 2020 & 2028

5.Footwear Market, by Material

5.1.Leather

5.1.1.Market size and forecast, by region, 2020-2028
5.1.2.Comparative market share analysis, 2020 & 2028

5.2.Non-leather

5.2.1.Market size and forecast, by region, 2020-2028
5.2.2.Comparative market share analysis, 2020 & 2028

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