Footwear Market: Emerging Fashion Trends to Pave Way for Products Developments

Posted by Arslan on December 20th, 2018

The footwear market has witnessed the advent of a number of demographic trends underpinning its various trajectories. Gone are the times when footwear used to be worn for protection or when new varieties could only touch the sensibilities of females. Footwear is increasingly gaining popularity as a fashion accessory not only among women but men alike. The types of footwear is in many ways reflects the personality of consumer in the footwear market. One area that has gained substantial attention of manufacturers in recent times is the athletic footwear, seeing constant product developments and innovations. The footwear market has conquered new demographics with the advent of products made to suit a variety of consumer ends. Efforts to bring design innovations in products underlie the demand for more comfort, convenience, durability, and functionality for various segments of end consumers, including children.

Riding on the back of aforementioned trends, Fact.MR sees large promising avenues in the global footwear market and anticipates the market to rise at a CAGR of 4.5% during the forecast period of 2017–2022. The footwear market will reach a worth of US0 billion by the end of 2022.

The global footwear market is in a constant flux of change underpinned by the rapid changes in fashion in several parts of the world. These trends are also reinforced by emerging styles in the overall apparel industry. With growing role of footwear as lifestyle statement across demographics, the market is likely to witness attractive trajectories.

Among the various product types, footwear meant for casual and occupational purposes are potentially lucrative segments. These are expected to contribute over a fifth of revenue in the overall footwear market. The development of new designs of casual footwear is expected to allure teenagers in the footwear market. Europe is emerging as a potentially lucrative market for casual footwear. In the continent, casual footwear segment is expected to expand at a CAGR of 5.9% from 2017 to 2022.

Emerging Fashion Trends to pave way for Products Developments in Footwear Market

The increasing role of footwear as precursor to new fashion trends is a lucrative proposition in the market. Of rising significance has been new shopping trends shoes for men and women in the global footwear market. New trends in the footwear market in recent years have been potentially shapes by celebrity styles among consumers in developed markets. These styles are setting pace for new consumer craze in the overall footwear market. The rising launch of a number of celebrity-inspired brands is also making waves in emerging markets for footwear.

Both Casual and Occupational Footwear equally Attractive—Targeting these open New Avenues for Footwear Manufacturers

Focusing on casual and occupational give brands and manufacturers access to separate demographics in the global footwear market. And as has been observed in the evolution of the footwear market, both segments are lucrative avenues constantly tapped by companies. The demand for new casual footwear types characterized by a combination of style and comfort is rising among teenagers and adolescents. This has been remarkably fueled by proliferation of casual footwear products on e-commerce sites with their competitive pricing. The benefit of choosing from a vast variety of color and styles that online channels offers has been pivotal for the expansion of the casual footwear market.

On the other hand, occupation category in the footwear market increasingly focus on blue collar and white collar workers. This has unlocked promising avenues in the footwear market, especially in Asia Pacific excluding Japan (APEJ).

Critical Tracking of Competitive Landscape

The report offers in-depth insights into the competitive landscape and the regional and global factors altering the competitive dynamics in the footwear market. The study also shed lights on the intensity of competition prevailing among key players in the footwear market. Some of the prominent companies in the footwear market are Nike, Adidas, PUMA, Under Armor, Crocs, ALDO group, ASICS Corporation, and Deichmann SE.

Footwear Market Report is available for Purchase @ https://www.factmr.com/checkout/120/S