Footwear Market Overview: 2024-2030
Base Year: 2023
Historical Years: 2019-22
Forecast Years: 2024-30
The Footwear Market size was valued at around USD 402 billion in 2023 and is projected to grow at a CAGR of around 4.3% during the forecast period, i.e., 2024-30. Various factors like the increasing popularity of online shopping and social media play a big role in driving the growth & expansion of the Global Footwear Market. It is now much easier and accessible to buy different footwear due to the presence of online platforms and social media keeps everyone updated with trends leading to more purchases.
Markntel Advisor’s Footwear Market Insights report provides the current and forecast market analysis, individual leading companies’ market shares, challenges, Footwear Market drivers, barriers, Footwear Market Trends, and Key Players in Footwear Market.
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Footwear Market Dynamics: 2024-2030
Footwear Market Driver:
Growing Popularity of Online Shopping – Due to an increase in the popularity of online shopping platforms and social media, the process of buying footwear has become easy and more accessible. Using social media, people can see what is trending and are more likely to align with current fashion trends, which results in more people buying footwear that is trending. People can now even customize and personalize their products on online shopping platforms which results in a much more unique product and customer satisfaction. This helps people to choose their style based on their preference which makes every product more personalized. Due to online platforms being so popular, various fashion influencers also use them to buy footwear, which makes the trend keep on changing and evolving and then resulting in many more purchases of similar products. Moreover, some brands like Adidas are integrating with Augmented Reality (AR), using which a person can virtually try the product.
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Footwear Market (2024-30): Segmentation Outlook
The market report has segmented the market into the following categories:
- By Product Type
- Athletic
- Non-Athletic
- By Material
- Leather
- Non-Leather
- Rubber
- Plastic
- Fabric
- Others
- By End-User
- Men
- Women
- Children
- By Sales Channel
- Online
- Offline
- By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
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Top Companies Operating in the Footwear Market:
- Adidas AG
- Asics Corp.
- Authentic Brands Group LLC (Reebok International Limited)
- Bata Corporation
- Columbia Sportswear
- Deichmann SE
- ECCO Sko A/S
- Fila Holdings Corp.
- Geox
- Jack Wolfskin
- New Balance
- Nike Inc.
- Puma SE
- Relaxo Footwears Limited
- Skechers USA, Inc.
- The ALDO Group
- Timberland
- Under Armour, Inc.
- Wolverine World Wide, Inc.
- Others
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