According to the report, the Global Footwear Market was valued at USD 19,8782.9 million in terms of value and 9990.7 million in terms of volume in 2014, which is expected to reach USD 220227.9 million and 10,974.0 million in terms of value and volume respectively by 2020, growing at a CAGR of 1.72% and 1.58% in terms of value and volume respectively from 2014 to 2020.
The Global Footwear Market is driven by factors such as growing demand for new design of footwear and growing awareness about healthy and active life style. Increasing population, propensity of people to spend more and emerging retail outlets have also attributed to the growing demand for footwear across the global market. The global footwear market is also facing some restraints which are slowing down the growth of the global footwear market. Rising prices of raw material and increasing environmental concerns are the main concerns for the global footwear market. However, there is a wide opportunity in the footwear market such as changing consumers’ lifestyle and fashion trends, emerging role of e-commerce and increasing new brands in the market that would enhance the demand of footwear market in the coming years.
The global footwear market has seen diversified trends across different geographic regions such as North America, Europe, Asia Pacific, and Rest of the World. The footwear market is expected to see robust growth due to increase in the number of consumers every year and growing demand for new design footwear. The market has been divided into three segments: by types of footwear, by consumer group, and by geography. Types of footwear include athletic footwear and non-athletic footwear. The report also offers insights about the sub-segment of athletic footwear and non-athletic footwear. In addition, the market has been segmented into consumer group, which includes men, women, and kids.
Furthermore, the market is segmented on the basis of geographic region, which includes North America, Asia Pacific, Europe, and RoW. North America would account for the maximum share in terms of value in the global footwear market where as Asia Pacific is expected to maintain the leading position in terms of volume during the forecast period.
In addition global footwear market is segmented into consumer group including men, women and children. Men accounted for the largest share in the footwear market with 52%, followed by women with 36%, and children with 12% market share globally. This growth is attributed to the increasing global population, which is dominated by the male gender.
Some of the top players in the global footwear market are Nike, Adidas, Ascis, Puma, VF Corp, Skechers and New Balance among others. At present, among the top players in the global footwear market, Nike is the leading footwear company followed by Adidas and Ascis. Nike and Adidas have the more number of retail outlets, strong distribution channel, and large customer base globally. Asics and Puma are popular in the European market where as VF Corp., Skechers, and New Balance are American companies with strong presence in the American footwear market.
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