Footwear Market by Type, Growth, Size and Industry Forecast 2014-2020 | Key Players- Nike Inc., Adidas AG, PUMA, GEOX S.p.A, SKECHERS

Footwear Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $371.8 billion by 2020, registering a CAGR of 5.5% during the period 2015 – 2020.The Asia Pacific region is a major exporter of leather footwear to the United States and United Kingdom and ranks as the highest revenue generating region in the footwear market worldwide. The region generated a revenue of $116.9 billion in 2014, and is expected to grow at a CAGR of 4.7% during the forecast period. A global increase in disposable incomes, growing urbanization and changing lifestyles are key factors that boost the growth of the global footwear market.

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Athletic and non-athletic are the two major types of footwear, wherein non-athletic footwear holds a larger market share in comparison with athletic footwear. Both the segments would witness growth during the forecast period, on account of the growing consciousness of fitness, which subsequently boosts the market of athletic footwear; and the large demand of non-athletic footwear such as casual shoes, boots, sneakers, slip-ons, flip flops and formal shoes.

Leather footwear are premium products occupying a significant market share in the global market for footwear. Additionally, rising health concerns are influencing individuals to perform indoor and outdoor physical activities. This trend has generated a high demand for athletic shoes, in turn increasing the demand for footwear. Over the past decade, the global market for footwear has witnessed a steady growth and is anticipated to continue at the same pace in the years to come. The estimation of global market is based on revenue generated by the sale of footwear across different geographic regions.

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Market players are also focusing on expanding their sales channels through different web portals across various regions. Online platforms for purchase of footwear are gaining steady popularity among teenagers and youths, thereby occupying a significant share among all distribution channels.  Presently, manufacturers are focusing on developing and innovating new products, to maintain their market positions. Leading companies operating in the market, such as Adidas, Timberland, Nike, and ECCO among others are constantly devising new solutions and focusing on providing better services while upgrading the designs of their existing footwear models.

Key Findings of Footwear Market:

  • Increasing disposable incomes and changing lifestyles are some key factors that influence the market growth over the forecast period (2015 – 2020)
  • Leather segment accounted for around 60% of the market in 2014 and would continue to dominate the market throughout the analysis period; Non-leather segment, with relatively smaller market share would witness faster growth during 2015 – 2020
  • Asia Pacific accounts for the highest revenue generating region in the global market and would continue to lead the market over the forecast period

The raw materials that are commonly used in the manufacturing of footwear include suede leather, tanned leather, rubber, fur and textile fabrics. Leather footwear accounts for larger market share as compared to the non-leather footwear made of materials such as rubber, textile fabrics and similar others. The United Kingdom and United States are major importers of leather footwear.

Presently, retail stores are a significant sales channel for manufacturers, however, with growing e-commerce networks, the online platform would gain popularity over the forecast period.

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Product launch and partnerships are the two key strategies adopted by leading market players. Additionally, the market players are constantly in the process of conceptualizing effective strategies for marketing and branding their products across global events such as the Olympics, Formula One Grand Prix and Wimbledon among others. The key players profiled in this report are Nike Inc., Adidas AG, PUMA, GEOX S.p.A, SKECHERS USA, Inc., Under Armour, INC., Wolverine World Wide, Inc., Timberland, Crocs Retail, Inc., and ECCO Sko A/S.

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