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Report Overview
The global footwear market reached a value of around USD 417.50 Billion in 2024. The market is assessed to grow at a CAGR of 4.90% between 2025 and 2034 to reach a value of approximately USD 673.61 Billion by 2034. The footwear market is significantly growing with the increasing demand for fashionable footwear and trending designs. Market value, particularly in urban areas, is also rising, driven by the surge in limited-edition shoes and the increasing appeal of luxury footwear. The footwear consumption has increased due to the growing popularity of athletic shoes and sneakers as lifestyle products. The demand for casual footwear has also increased rapidly. The growth of online shopping platforms has made it easier for consumers to buy shoes. Moreover, with the use of social media marketing, brands are being able to create hyperlocal initiatives to announce exclusive launches and collaborations, hence increasing customer engagement. Moreover, with high demand for fashionable & high-performance footwear supported by celebrity endorsements and influencer campaigns, the growth of the market is bound to surge.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
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As per the FDRA, 64% of footwear customers in the United States are willing to pay $1-$5 more for sustainable shoes.
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China is the largest manufacturer of footwear in the world, followed by India, Brazil, Vietnam, and Indonesia.
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Sneakers are the most popular type of footwear among the Gen-Z population, attributed to the rising emphasis on comfort.
Footwear Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The current size of the footwear market is USD 417.50 Billion.
The market is expected to grow at a CAGR of 4.90% over the forecast period.
The market is estimated to witness a healthy growth during 2025-2034 to reach around USD 673.61 Billion by 2034.
Growing discretionary incomes, a greater emphasis on comfort and design, a growing interest in sports and fitness, and an increase in sales of high-end goods are the main motivating reasons.
The growing product purchase by consumers via e-commerce platforms such as Amazon, Alibaba, and others, and the launch of improved products range by manufacturers are the key market trends guiding the growth of the market.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Non-athletic footwear and athletic footwear are the different types of footwear in the market.
The major players in the 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, Bata Corporation, ECCO Sko A/S, Under Armour, Inc., Timberland, and Geox S.p.A., among others.
The Asia Pacific market held the dominant share.
The Asia Pacific is the fastest growing region in the market.
North America and Europe hold major shares in the market.
Vietnam, China, and Belgium hold potential for market expansion.
The leading material in the market is synthetic leather.
The footwear market changed after COVID-19 to focus on sustainability, e-commerce, and comfort.
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