As part of the final report, an analysis will be included to examine the effects of the Russia-Ukraine War and COVID-19 on the Footwear industry.
New Industry Report on Global Footwear Market Status and Prospects [2023-2032] has been released. The report is 120 pages long and provides an overview of the business with key types and applications along with the industrial chain structure. It includes information about the global market, such as development trends, competitive landscape analysis, key regions, and their development status. The report also examines advanced approaches and plans, as well as manufacturing processes and cost structures. It analyzes import/export utilities, market figures, cost, price, revenue, and gross productivity of the market. If you are interested in the report, Please Request a Free Sample Copy
The global footwear market is expected to expand at an overall annual compound growth rate (CAGR) of 3.44% from 2018 to 2023, leading to a global revenue of USD 280.61 billion by 2023.
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The global footwear market, characterized by frequent change and volatility, reflects the trends that will impact the world in the next few years. The search for a variety of styles, and the new trend of fashionable and innovative footwear is increasing its demand across the world.
Based on the various products available, the global footwear market has been classified into athletic and non-athletic footwear. The demand for non-athletic footwear is anticipated to be the largest and the most promising in the coming years. This is due to the availability of customization and personalization for different footwear, along with the rising fashion of innovative and trendy footwear.
Based on the distribution channel, the market is segmented into online channels, supermarkets and hypermarkets, independent retail stores, and others. These segments occupy more than around 65% of the global market share. Shopping online or from supermarkets and independent retail stores holds the majority of the market share, globally.
Also, demand for footwear from various end users including men, women, and kids is also provided in this report. Demand for footwear from women held the most significant market share in 2017 and is anticipated to maintain its dominance during the forecast period.
Moreover, the cross-sectional analysis of all the segments mentioned above across different regions such as North America, Asia-Pacific, Europe, Latin America and the Middle East and Africa has also been considered within the scope of research. Geographically, North America dominated the global footwear market and was followed by the Asia-Pacific, especially China, in 2017.
Key growth factors
The footwear market is predicted to witness a high growth rate owing to the rising disposable income in developing economies, rapidly growing population, and increasing demand for athletic shoes because of increasing awareness about health and fitness, and attractive promotional strategies by companies that induce increased purchases.
The growing trend of new and stylish footwear across all age groups is one of the primary factors that is expected to augment the demand for footwear at a high rate in the coming years.
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Threats and key players
Despite so many factors driving the market, the rising cost of raw materials is one of the most critical factors that is expected to limit the demand for footwear in the coming years.
Moreover, the availability of counterfeit products and competition among vendors hinder the expansion of the global footwear market.
Some of the major players operating in the footwear market are Adidas AG, Nike Inc., PUMA SE, New Balance Inc., Asics Corporation, Deichmann SE, Bata Ltd, Skechers USA Inc., Under Armour, Timberland, etc.
What’s covered in the report?
1. Overview of the footwear market
2. Current market demand along with future expected demand for footwear on the basis of various product types athletic and non-athletic
3. Current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, the Middle East & Africa) market size data for footwear market.
4. Current and forecasted market size data for segments based on material,including rubber, leather, plastic, and others
5. Current and forecasted market size data for segments based on distribution channel online sales, supermarkets and hypermarkets, independent retail stores, and others
6. Current and forecasted market size data for end user segments – men, women, and kids
7. Analysis of company profiles of major players operating in the market.
8. Key opportunities for the footwear market.
9. Market trends in the global footwear market.
10. Value chain analysis in order to optimize the available resources
11. Market attractiveness analysis in terms of region in order to furnish the competitive advantage of one region over the others.
12. Market positioning of the key players across different regions in 2017.
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1. Understand the demand for footwear to determine the viability of the business.
2. Identify the developed and new markets where footwear is viable business.
3. Formulate a product market strategy based on the position in the value chain to determine the optimal product placement.
4. Identify the gap areas and address them.
5. Develop strategies based on the economic factors for each of the segments.
6. Define the competitive positioning by comparing the products with the key players in the market.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
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On June 8th, 2022, the Bureau of Economic Analysis and U.S. Census Bureau released a report detailing the recovery of the U.S. market and international trade. The report highlighted the significant growth in exports and imports, with exports reaching $300 billion in April 2022, an increase of $13.4 billion, and imports amounting to $294.5 billion, increasing by $17.4 billion. Despite the impact of COVID-19 on the global economy, the U.S. market is showing signs of recovery.
However, the Healthcare/ICT/Chemical industries are still feeling the effects of the pandemic, which is creating a large market for Footwear. As the recovery of the U.S. market continues, there will be a direct impact on these industries, and the demand for Footwear is likely to increase. The report highlights the need for businesses to stay informed about market trends and adjust their strategies accordingly to take advantage of emerging opportunities in this evolving landscape.
Intricacies of COVID-19 Impact Analysis:
The pandemic of COVID-19 has also reduced the availability of and demand for non-COVID-19-related medical treatment. A wide range of treatments, including emergency care for acute diseases, routine check-ups, and recommended cancer screenings, are being postponed or avoided by patients. Undiagnosed illnesses and a failure to intervene early will have serious long-term health consequences. COVID-19 has accelerated a variety of existing and emerging healthcare trends, including changing consumer attitudes and habits, the convergence of life science and health care, rapid advances in digital health technologies, and new talent and care delivery models, to name a few.
In-depth Analysis of the Russia-Ukraine War Impact:
Global industries were impacted by the Russia-Ukraine War, which started in February 2022. There have been widespread announcements of strict travel restrictions over Ukrainian airspace. The market in 2022 has been damaged by the Russia-Ukraine War.
The conflict between Russia and Ukraine raises defense spending and fortifies NATO nations’ armed forces. Due to Russia’s invasion, the majority of European nations have raised their defense budget. Germany earmarked USD 109 billion, which is more than the whole cost of the military in 2021, increasing its defense spending above 2% of GDP.
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Some Questions Answered in the Footwear Market Report:
- What is the projected size of the global Footwear market in 2030, and what growth rate is expected?
- What are the primary drivers of growth in the global Footwear industry?
- What are the major market trends that are affecting the expansion of the Footwear market?
- What obstacles must be overcome in order to achieve sustained growth in the Footwear market?
- What opportunities and threats do vendors in the global Footwear market face?
- What are the raw materials and manufacturing equipment used in the production of Footwear, and what is the manufacturing process?
- What are the different types and applications of Footwear, and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the Footwear market?
- What factors are driving the growth of the Footwear market in the top regions worldwide?
- Who are the major players in the global Footwear market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the Footwear market?
- What are the main findings of a five forces analysis of the global Footwear market?
To gain a better understanding of market conditions, a Five Forces analysis is conducted, which includes an assessment of the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
Additionally, a PESTLE analysis is performed to evaluate the external factors that may impact the market:
- Political factors: This includes political policies and stability, as well as trade, fiscal, and taxation policies.
- Economic factors: Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates are all considered under this category.
- Social factors: Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles are taken into account when analyzing the social factors that may affect the market.
- Technological factors: Changes in digital or mobile technology, automation, research, and development are evaluated to determine the potential impact on the market.
- Legal factors: Employment legislation, consumer law, health and safety regulations, and international trade restrictions are among the legal factors that may affect the market.
- Environmental factors: Climate, recycling procedures, carbon footprint, waste disposal, and sustainability are all taken into consideration when assessing the potential impact of environmental factors on the market.
Our Footwear Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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