According to the latest report by IMARC Group titled, “Footwear market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, The global footwear market size was worth US$ 227.1 Billion in 2018. Looking forward, IMARC expects the market to reach a value of US$ 266.5 Billion by 2024, registering a CAGR of 2.7% during 2019-2024.
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With the significant changes in the lifestyles and fashion trends of consumers, footwear has evolved as a symbol of status. Consumers are nowadays more inclined toward purchasing footwear with advanced technical fabrications, which are superior in quality and provide maximum comfort to them.
In recent years, the growing demand for footwear that blends fashion with comfort has prompted manufacturers to focus on designing technologically advanced smart shoes, which significantly aid in expanding their product portfolio and business operations. For instance, Nike has introduced HyperAdapt, innovative self-lacing shoes, which have pressure sensors in the soles that allow automatic lacing when the wearer puts the foot inside the shoe. Similarly, Hugo Boss, a luxury footwear brand, has recently launched vegan pineapple leather shoes for men. Furthermore, several companies are developing sustainable footwear ranging from hay-based sneakers to biodegradable, vegan stilettos, which are gaining rapid popularity among the masses. Moreover, the leading footwear companies, such as Cole Haan and Converse, Inc., are diversifying their product lines through mergers and acquisitions, which, in turn, is expected to propel the growth of the market in the upcoming years.
Explore full report with table of contents: https://www.imarcgroup.com/footwear-market
Report coverage:
Historical, Current and Future Market Trends
Market Breakup by Product:
Non-Athletic Footwear
Athletic Footwear
Market Breakup by Material:
Rubber
Leather
Plastic
Fabric
Others
Market Breakup by Distribution Channel:
Footwear Specialists
Supermarkets and Hypermarkets
Departmental Stores
Clothing Stores
Online Sales
Others
Market Breakup by Pricing
Premium
Mass
Market Breakup by End-User:
Men
Women
Kids
Market Breakup by Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Read more information about Footwear Manufacturers: https://www.imarcgroup.com/top-companies-footwear-industry
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being 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 highlights of the report:
Market Performance
Market Outlook
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Competitive Structure
Profiles of Key Players
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