Footwear Market Share, Size, Growth, Global Industry Overview, Trends, Opportunity and Forecast to 2027

The Footwear Market is expected to reach US$ 288.2 Billion by 2027, exhibiting at a CAGR of 4% during 2022-2027.

ST. BROOKLYN, NY, USA, February 12, 2023 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “𝗙𝗼𝗼𝘁𝘄𝗲𝗮𝗿 𝗠𝗮𝗿𝗸𝗲𝘁: 𝗚𝗹𝗼𝗯𝗮𝗹 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗧𝗿𝗲𝗻𝗱𝘀, 𝗦𝗵𝗮𝗿𝗲, 𝗦𝗶𝘇𝗲, 𝗚𝗿𝗼𝘄𝘁𝗵, 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆 𝗮𝗻𝗱 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁 𝟮𝟬𝟮𝟮-𝟮𝟬𝟮𝟳”, the global footwear market size reached US$ 224.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 288.2 Billion by 2027, exhibiting at a CAGR of 4% during 2022-2027.

Footwear refers to articles that are worn for the purpose of adornment, hygiene, fashion, or providing protection against adversities of the environment, including ground textures and temperature. It is manufactured by using a wide array of materials, such as wood, canvas, leather, jute, plastics, rubber, etc., with a highly soft sole and heel to support the weight of the wearer. Footwear can either be machine- or hand-made and is commonly available in various patterns, colors, advanced technical fabrications, etc., for both athletic and non-athletic purposes.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗳𝗿𝗲𝗲 𝘀𝗮𝗺𝗽𝗹𝗲 𝗯𝗿𝗼𝗰𝗵𝘂𝗿𝗲: https://www.imarcgroup.com/footwear-market/requestsample

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𝗚𝗹𝗼𝗯𝗮𝗹 𝗙𝗼𝗼𝘁𝘄𝗲𝗮𝗿 𝗠𝗮𝗿𝗸𝗲𝘁 𝗧𝗿𝗲𝗻𝗱𝘀:

The escalating demand for superior-quality articles is among the key factors stimulating the footwear market. Moreover, leading manufacturers are focusing on developing unique designs while giving importance to comfort, which is acting as another significant growth-inducing factor. Besides this, the growing consumer inclination towards participating in athletic and physical activities, such as jogging and running, is positively influencing the global market. Furthermore, the rising sales of footwear via organized retail outlets are propelling the market growth. Apart from this, numerous promotional activities by key market players and the inflating expenditure capacities of individuals are further bolstering the global market. Additionally, extensive investments in R&D activities to introduce smart shoes consisting of pressure sensors to facilitate easy functioning of self-lacing are also augmenting the market growth. In line with this, the increasing number of e-commerce platforms are enabling companies to offer enhanced convenience to users via flexible payment methods, easy return or exchange policies, monetary benefits, etc., which is anticipated to fuel the footwear market over the forecasted period.

𝗖𝗵𝗲𝗰𝗸𝗼𝘂𝘁 𝗡𝗼𝘄: https://www.imarcgroup.com/checkout?id=1313&method=1

Footwear Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the footwear market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Nike Incorporation
• Adidas AG
• PUMA
• Geox S.p.A
• Skechers USA, Incorporation
• Timberland
• Crocs Retail, Inc.
• Ecco Sko A/S
• Wolverine World Wide, Inc.
• Under Armour Inc., etc

Key Market Segmentation:

The report has segmented the global footwear market on the basis of product, material, distribution channel, pricing, end-user and region.

Breakup by Product:

• Non-Athletic Footwear
• Athletic Footwear

Breakup by Material:

• Rubber
• Leather
• Plastic
• Fabric
• Others

Breakup by Distribution Channel:

• Footwear Specialists
• Supermarkets and Hypermarkets
• Departmental Stores
• Clothing Stores
• Online Sales
• Others

Breakup by Pricing:

• Premium
• Mass

Breakup by End-User:

• Men
• Women
• Kids

Breakup by Region:

• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
• Middle East and Africa ( Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)

𝗔𝘀𝗸 𝗔𝗻𝗮𝗹𝘆𝘀𝘁 𝗳𝗼𝗿 𝟭𝟬% 𝗳𝗿𝗲𝗲 𝗰𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗲𝗱 𝗿𝗲𝗽𝗼𝗿𝘁: https://www.imarcgroup.com/request?type=report&id=1313&flag=C

This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Key Highlights of the Report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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