Footwear Market is Expected to Reach USD 258.22 Billion and 12.11 Billion Units Respectively in 2023: Transparency Market Research

ALBANY, New York, April 1, 2016 /PRNewswire/ --

According to a new market report published by Transparency Market Research "Footwear Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023," in terms of revenue, global footwear market was valued at USD 208.72 billion in 2014, and is expected to reach USD 258.22 billion by 2023, increasing at a CAGR of 2.5% from 2015 to 2023. In terms of volume, global footwear market was valued at 9.99 billion units in 2014, growing at a CAGR of 2.3% from 2015 to 2023 to account for 12.11 billion units in 2023.

The global footwear market is primarily driven by rising focus on sportswear and increasing retail culture. Factors such as great diversity in the footwear market and easy availability of products in many retail outlets are anticipated to encourage impulse buying of these products. Different brands as well as retailers are re-orienting their focus on this market, which has led to a significant increase in the number of retail outlets worldwide. Furthermore, increasing demand for innovation in design and technology of footwear products is likely to create a growth opportunity for the global footwear market during the forecast period. However, development of counterfeit footwear products by local manufacturers is expected to hinder the growth of the market during the forecast period. 

Full Research Report on Global Footwear Market with detailed figures and segmentation at: http://www.transparencymarketresearch.com/footwear-market.html

On the basis of product type, the global footwear market is subdivided into athletic footwear and non-athletic footwear. Introduction of new shades and designs at a low cost are the key drivers responsible for the increasing demand of non-athletic footwear in the global market. Thus, both by revenue and volume, non-athletic footwear was the largest contributor in the footwear market in 2014 and accounted for market shares of approximately 52% and 64% respectively. 

Both athletic and non-athletic footwear were further subdivided into various types. The global athletic footwear market, by product type, is classified into seven segments: running and cross training/tennis shoe, soccer/football shoe, golf shoe, basketball shoe, hiking shoe, baseball shoe and others. In terms of revenue and volume, running and cross training/tennis shoe was the largest contributor in the footwear market in 2014 and accounted for market shares of approximately 25% and 26% respectively. The major reason is attributed to increasing usage of running and cross training/tennis shoes for fitness purposes and day to day activities. 

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The global non-athletic footwear market, by product type, is segmented into five categories: casual footwear, dress evening footwear, military boots, lite hiking outdoor sandal and others. Both by revenue and volume, casual footwear was the largest contributor in the footwear market in 2014 and accounted for market shares of approximately 31.5% and 31.3% respectively. Casual footwear is built for daily wear and offers maximum comfort throughout the day. Moreover, wide varieties of casual shoes with different styles and materials are continuously manufactured by leading players. 

By gender, the overall market is classified into three segments: - men's footwear, women's footwear and kids' footwear. The market for women's footwear is expected to show a decent growth on account of the growing demand for footwear that has a higher level of sophistication and quality. Both by revenue and volume, women's footwear was the largest contributor in the footwear market in 2014 and accounted for market shares of approximately 50% and 46% respectively. 

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The global footwear market, by geography, is divided into four regions:-North America, Europe, Asia Pacific and Rest of the World (RoW). In terms of revenue, North America was the largest contributor in the market in 2014, accounting for a market share of approximately 35%. Increasing participation in athletic activities coupled with changing lifestyle is set to augment the growth of the footwear market in North America. In terms of volume, Asia Pacific was the largest contributor in the market in 2014, accounting for a market share of approximately 40%. The major reason is attributed to increasing middle class population and rapid expansion of footwear industry in emerging countries such as China and India among others. 

Some of the leading players in the market are Nike Inc. (U.S.), Adidas AG (Germany), Puma SE (Germany), New Balance Inc. (U.S.), Asics Corp.(Japan), Bata Limited (Canada), Deichmann SE (Germany), Skechers USA, Inc. (U.S.), The Aldo Group Inc. (Canada), VF Corp. (U.S.), W.L. Gore & Associates, Inc. (U.S.), Jack Wolfskin (Germany), Sympatex Technologies GmbH (Germany), Polartec, LLC (U.S.), Kathmandu Holdings Limited (New Zealand), and Columbia Sportswear Company (U.S.). Key players have also been profiled on the basis of company overview, financial overview, business strategies and recent developments in the field of footwear. 

Global footwear market: by product type 

• Athletic footwear
  • Running and cross training/tennis shoe,
    • Soccer/football shoe
    • American football/rugby shoe
    • Soccer shoe
  • Golf shoe
  • Basketball shoe
  • Hiking shoe
  • Baseball shoe
  • Others
• Non-athletic footwear
• Casual footwear
• Dress evening footwear
• Military boots
  • Hunting/fishing boots
  • Rain boots/galoshes
  • Winter/snow boots
  • Rocky military boots
  • Others
• Lite hiking outdoor sandal
• Others

Global Footwear market: by gender 

• Men's footwear
• Women's footwear
• Kids' footwear

Global Footwear market: by geography 

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • U.K.
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia Pacific
• Rest of the World (RoW)
  • South America
  • Middle East
  • Africa 

Other Research Reports by Transparency Market Research: 

• Personal Protective Equipment Market: http://www.transparencymarketresearch.com/saudi-arabia-personal-protective-equipment-market.html
• Industrial Protective Footwear Market: http://www.transparencymarketresearch.com/industrial-protective-footwear.html
• Athletic Footwear Market: http://www.transparencymarketresearch.com/athletic-footwear-market.html

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