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Footwear Market Growing at CAGR of 1.5% from 2015 to 2021

Press Release   •   Nov 08, 2016 07:05 EST

Europe footwear market is expected to undergo several changes such as new variations and style and eco fashion in different footwear categories. By type, the footwear market is segmented into athletic footwear and non-athletic footwear. Athletic footwear market is further sub categorized into Insert Shoe, Sports (Cross Training), Hiking Shoes and Backpacking Boots. Non-athletic footwear market is further sub categorized into Dress/Formal, Casual Footwear and Fashion Footwear. Europe footwear market is expected to witness significant growth due to busy lifestyles, increasing number of working women and growing fashion consciousness among consumers towards footwear.

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The U.K. among all the European countries held the largest market share of 15.2% in 2014, followed by Germany. In 2014 Germany held a market share of 13.6%. This trend is expected to be the same over the forecast period. It is estimated that U.K. would be the largest market for footwear in 2021, followed by Germany.

The Europe Footwear market was valued at USD 42,941.3 million in 2014 and is estimated to reach USD 47,625.8 million by 2021, growing at a CAGR of 1.5% from 2015 to 2021.

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Footwear included under athletic footwear segment includes insert shoe, sports (Cross Training), Hiking Shoes and Backpacking Boots. The market for non-athletic footwear is comparatively higher as compared to the athletic footwear. Consumers mainly prefer non-athletic footwear due to changes in fashion and rise in number of working women. Due to this demand for non-athletic footwear is increasing across Europe. Consumers mainly prefer athletic footwear due to changes in lifestyle and introduction of new footwear styles, including ethical footwear and recycled footwear. Thus, non-athletic footwear market segment is expected to dominate the footwear market throughout the forecast period of 2015 to 2021.

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