Dublin, Jan. 13, 2025 (GLOBE NEWSWIRE) — The “Footwear market by product type (boots, sandals and slippers, shoes), material type (foam, leather, plastic), age group, end use, gender, distribution channel.” – The report “Global Forecast 2025-2030” has been added ResearchAndMarkets.com Offer.
The footwear market grew from $382.90 billion in 2023 to $404.61 billion in 2024. It is expected to continue growing at a CAGR of 5.87% and reach $570.98 billion by 2030 US dollars will reach.
The footwear market, which includes everything from athletic shoes to luxury heels, is a dynamic segment within the broader fashion industry that is subject to constant change due to consumer preferences, technological innovations and economic trends. In this context, the needs and applications of the market have diversified, increasing demand from casual clothing to specialized sports and orthopedic shoes. Consumers increasingly value comfort, durability and sustainability. Therefore, manufacturers need to incorporate advanced materials and environmentally friendly production methods, which presents opportunities for brands that invest in these areas. The expansion of e-commerce and omnichannel retail strategies have further expanded the end-use range and made footwear accessible to a broader, geographically diverse audience.
Key growth factors include rising disposable incomes, increased health awareness and social media-influenced fashion trends, which together are driving higher consumption of niche products such as sports and tailored footwear.
At the same time, innovative technologies such as 3D printing and AI-driven design processes offer potential opportunities for brands to differentiate themselves and increase profitability. Sustainability remains a great opportunity, but also represents a challenge that requires significant investment in research and development. However, brands that successfully implement circular economy principles can gain a significant competitive advantage. Limitations include geopolitical tensions affecting supply chains, environmental regulations and challenges in predicting consumer trends in the face of rapid technological changes. It is critical for businesses to embrace digital transformation and use data analytics to refine product offerings and personalized marketing strategies. Companies also need to innovate within the largely untapped potential of smart shoes and offer built-in fitness tracking capabilities, which could appeal to tech-savvy consumers.
Additionally, collaborations with technology companies to improve product features or develop proprietary innovations may provide significant future growth opportunities. In summary, while the footwear market presents several challenges, including fluctuating raw material costs and evolving regulatory landscapes, a focus on sustainability, technological integration and market responsiveness is key to capitalizing on future opportunities.
Market dynamics
Market Dynamics represents an ever-changing landscape of the footwear market by providing actionable insights into factors such as supply and demand levels. Taking these factors into account helps design strategies, make investments and formulate developments to take advantage of future opportunities. In addition, these factors help avoid potential pitfalls related to political, geographical, technical, social and economic conditions, highlight consumer behavior and influence manufacturing costs and purchasing decisions.
- Market Drivers
- Globalization and cross-cultural exchange of designs offer consumers a wide range of shoe styles
- Environmental awareness drives demand for sustainable and environmentally friendly shoes
- Increasing urban sprawl requires versatile footwear that can transition from casual to formal occasions
- Market Restrictions
- Problems related to fluctuations in prices and supplies of raw materials
- Market opportunities
- Technological advances for personalized and customizable footwear options
- Growing potential for eco-friendly shoes aligned with the growing green movement
- Market challenges
- Concerns associated with counterfeit goods regarding brand loyalty and authenticity of the shoes
Current developments
Skechers launches exclusive cricket shoes collection to tap Indian sports market
- Skechers launched a cricket shoe collection exclusively in India, capitalizing on the country's enthusiasm for cricket. This move is likely due to the booming sportswear market in India and the strategic aim to align with the local sports culture. The transaction involves the launch and marketing of a specialty product that potentially increases the visibility and sales of the Skechers brand.
HEYDUDE partners with Metro Brands to penetrate the Indian footwear market
- HEYDUDE's partnership with Metro Brands Ltd. marks its strategic entry into the Indian footwear market, leveraging Metro's extensive retail network for a pan-India debut. With the experience of Metro Brands Ltd. In introducing international brands, this collaboration aims to establish HEYDUDE as the leading casual footwear brand in India.
YOHO launches hands-free sneakers with BLINC, improving the comfort and convenience of shoes
- YOHO launched BLINC, India's first hands-free sneakers that enhance the shoe experience through easy wearability and increased comfort. This innovative product eliminates the need to use hands to wear or remove sneakers, responding to growing consumer demand for more practical and user-friendly footwear solutions.
Important company profiles
The report looks at recent significant developments in the footwear market and highlights leading players and their innovative profiles. This includes:
- Achilles Corporation
- Adidas AG
- Allbirds, Inc.
- BH Shoe Holdings, Inc. (from Berkshire Hathaway Inc.)
- C. & J. Clark International Ltd.
- Columbia Sportswear Company
- Crocs, Inc.
- HERE IS Sko A/S
- FILA Holdings Corporation
- Geox SpA
- Grenson Ltd.
- Justin Brands, Inc.
- Khadim India Ltd.
- Liberty Shoes Limited
- Mizuno Corporation
- Moonstar Company
- Munro & Company, Inc.
- New Balance Athletics, Inc.
- Nike, Inc.
- Puma SE
- Reebok International Limited
- Rocky Brands, Inc.
- Salvatore Ferragamo
- Santoni
- Skechers USA
- tapestry
- The Bata Corporation
- Dead Isotoner Holdings
- Under Armour
- VF Corporation
- Wolverine World Wide, Inc.
Key attributes:
| Report attribute | Details |
| Number of pages | 184 |
| Forecast period | 2024 – 2030 |
| Estimated market value (USD) in 2024 | $404.61 billion |
| Projected market value (USD) by 2030 | $570.98 billion |
| Compound annual growth rate | 5.9% |
| Regions covered | Global |
Main topics covered:
1 preface
2 Research methodology
3 Summary
4 Market overview
5 Market Insights
- Market dynamics
- Porter's Five Forces Analysis
- PESTLE analysis
6 footwear market, by product type
- Boots
- Sandals and slippers
- Shoes
- Casual shoes
- Formal shoes
- Sports shoes
- Special shoes
7 shoe market, by material type
- foam
- leather
- Genuine leather
- Faux leather
- plastic
- rubber
- Textile
8 shoe market, by age group
- Adults (20-50)
- Toddlers and children (0-12)
- Seniors (over 50)
- Teens (13-19)
9 Footwear market, by end use
- Daily wear
- Fashion and luxury use
- Sports & Fitness
- workplace
10 shoe market, by gender
11 footwear market, by distribution channel
- Offline channels
- Branded outlets/franchises
- Specialist shops
- Supermarkets/Hypermarkets
- Online channels
- Branded websites
- E-commerce platforms
12 America's shoe market
13 Asia Pacific Footwear Market
14 Europe, Middle East and Africa footwear market
15 Competitive Landscape
- Market share analysis, 2023
- FPNV positioning matrix, 2023
- Competitive scenario analysis
- Skechers launches an exclusive cricket shoes collection to tap the Indian sports market
- HEYDUDE partners with Metro Brands to enter the Indian footwear market
- YOHO launches hands-free sneakers with BLINC, improving the comfort and convenience of shoes
- Strategy analysis and recommendation
For more information about this report, visit https://www.researchandmarkets.com/r/wpxov0
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