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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Footwear Market Trends
The global market for footwear is primarily being driven by the increasing popularity of e-commerce platforms, such as Amazon, Walmart, and Alibaba, among others. Customers are increasingly shifting towards online shopping owing to its convenience and the availability of diverse products. This development is further supported by the expansion and fortification of regional and global logistics.
The sneaker market is expected to be a major influencing factor propelling the footwear demand. The market for sneaker is expected to develop rapidly in the forecast period owing to the availability of sneaker-specific platforms, including StockX, GOAT, and Grailed, among others.
Recycling is another major factor influencing the market as it aligns with rising manufacturers’ focus on sustainability. Companies are investing in innovative recycling technologies that allow the repurposing of various materials into new footwear. For example, thermoplastic polyurethane (TPU) can be recycled to create performance-grade materials for shoes.
Adidas, a leading footwear player, has established a longstanding partnership with Parley for the Oceans to create shoes made from upcycled marine plastic waste. The initiative not only addresses the issue of ocean plastic but also showcases how recycled materials can be integrated into high-performance footwear.
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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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