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Footwear Market Forecast, Trends, Opportunities, 2032

Sakshi Thakur |

Market Overview:

According to Fortune Business Insights Global Footwear Market size was valued at USD 463.87 billion in 2024 and is expected to be worth USD 495.46 billion in 2025. The market is projected to reach USD 789.52 billion by 2032, recording a CAGR of 6.88% during the forecast period.

The global footwear market encompasses a broad spectrum of products, including shoes, boots, sandals, and slippers, available in various designs, colors, and materials to suit diverse consumer preferences. Market growth is primarily driven by rising disposable incomes, growing demand for premium and high-quality footwear, accelerated urbanization, and evolving consumer lifestyles.

LIST OF KEY COMPANIES PROFILED IN THE REPORT

Nike, Inc. (U.S.)
Adidas AG (Germany)
Skechers (U.S.)
Puma SE (Germany)
Under Armour (U.S.)
Crocs, Inc. (U.S.)
Geox (Italy)
ECCO Sko A/S (Denmark)
New Balance (U.S.)
Relaxo Footwears Limited (India)

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https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/footwear-market-112088

Segmentation:

Casual Segment Captured Dominant Share Driven by Their Ease and Suitability Factors

In terms of type, the market is segmented into casual, athletic/sports, formal, and others. The casual segment captured the dominant global footwear market share in 2024, driven by its comfort and suitability factors. Casual footgear is available in various designs and aligns with the latest fashion trends.

Men Segment Led Market Owing to Rise in Fashion Consciousness and High Interest in Sports Activities

In terms of end user, the global market is segmented into men, women, and kids. The men segment held the leading position in the global market. The segment’s growth can be attributed to the surge in fashion awareness in the male population and their high interest in sports activities such as cricket and football.

Supermarket/Hypermarket Segment Led Market Owing to Wide Availability of Diverse Array of Brands

In terms of distribution channels, the market is categorized into supermarkets/hypermarkets, specialty stores, online/e-commerce, and others. The supermarket/hypermarket segment led the market owing to the wide availability of a diverse array of footwear brands. They also provide an extensive variety of footgear at affordable prices and offer promotional discounts, increasing consumer interest in them.

With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:

This report offers a comprehensive analysis of the global footwear market, covering key areas such as major product categories, distribution channels, end-user segments, and leading market players. It also explores emerging market trends and notable industry developments. Furthermore, the report delves into additional factors that have influenced and supported the market’s overall growth.

Drivers and Restraints:

High Participation in Sports and Focus on Sustainability to Spur Market Growth

The high inclination of consumers toward sports activities, such as football and cricket, for physical health benefits and fitness or enjoyment purposes propels the demand for sports shoes. The increasing participation of people in different sports events and tournaments is fueling further product demand. Consumer knowledge of the environmental impact is resulting in a surge in their interest in sustainable products manufactured from materials such as organic cotton and recyclable plastic. The top players are actively focusing on increasing their production of sustainable footgear.

However, the imposition of different regulations and policies on sales and production of footgear is expected to limit footwear market growth.

Regional Insights:

Asia Pacific Leads Global Footwear Market with Strong Manufacturing Base

In 2024, Asia Pacific emerged as the leading region in the global footwear market, driven by major manufacturing hubs like China and India. These countries play a crucial role as top footwear producers worldwide. Additionally, the rapid growth of the e-commerce sector—boosted by increased internet penetration—continues to support market expansion across the region.

North America holds the second-largest market share, fueled by a tech-savvy consumer base with a growing interest in smart footwear featuring innovations such as smartphone connectivity and built-in GPS. The U.S. dominates the regional market, with rising participation in sports like football and hockey significantly boosting demand for athletic footwear.

To know more about this market, please visit:
https://www.fortunebusinessinsights.com/footwear-market-112088 

Competitive Landscape:

Leading Players Focus on Cutting-Edge and Unique Footgear Development to Strengthen Their Market Positions

Intense competition comprising mid-scale, large-scale, premium, and local brands characterizes the global market. These brands are incorporating various strategic initiatives such as collaboration, production expansion, and marketing to strengthen their market positions. The leading players are focusing on cutting-edge and unique footgear development with features such as 3D printing.

Notable Industry Development:

May 2024: Skechers, an American brand of footgear and apparel, launched its new store in Prague. The store is located in High Street Na Príkope and offers products such as footgear, accessories, and apparel.

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