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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Footwear Market Size
The global footwear market reached a value of around USD 417.50 billion in the year 2023. The market is assessed to grow at a CAGR of 4.9% between 2024 and 2032 to reach a value of approximately USD 642.16 billion by 2032.
Key Takeaways
- As per the FDRA, 64% of footwear customers in the United States are willing to pay $1-$5 more for sustainable shoes.
- China is the largest manufacturer of footwear in the world, followed by India, Brazil, Vietnam, and Indonesia.
- Sneakers are the most popular type of footwear among the Gen-Z population, attributed to the rising emphasis on comfort.
Footwear refers to an outer covering for the foot that is usually manufactured from leather, fabric, or rubber. It usually consists of an upper section, outsole, and midsole, and in the case of a shoe, it also consists of a heel counter and a tow box. These garments typically serve the purpose of protection against harsh environments and provide stability on slippery surfaces.
The global footwear market is being driven by the rising demand for superior quality footwear, in conjunction with product innovations and premiumisation. In addition to this, the market is further being fuelled by the increasing emphasis of manufacturers on the development of innovative designs, while also keeping the comfort of consumers in mind. This has resulted in the introduction of modern products that provide high performance while being comfortable and fashionable.
Footwear Market Report Snapshots
Footwear Market Regional Analysis
*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
In 2023, the market reached an approximate value of USD 417.50 billion.
The market is estimated to grow at a CAGR of 4.9% between 2024 and 2032.
The market is estimated to witness a healthy growth during 2024-2032 to reach around USD 642.16 billion by 2032.
The major driving factors are rising disposable incomes, increasing focus on comfort and design, growing interest in fitness and sports activities, and increase in sales of premium quality products.
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, and Bata Corporation, among others.
Athletic footwear accounted for largest market 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.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124