Global Footwear Market Set to Grow at Glossary CAGR forecast by 2026 with Top

Posted by swamiv on November 1st, 2019

Global footwear marketBy Type (Non-Athletic, Athletic), Distribution Channel (E-Commerce, Direct, Retail, Others), End-User (Children, Men, Women), Material (Leather, Non-Leather)

Market Definition: Global Footwear Market 

Footwear can be defined as the coverings for feet, and include boots, sandals, shoes, and various other varieties. These coverings are used to protect the feet of the user resulting in comfort while moving and protecting it from external factors. These footwear are also used as a fashion statement and are chosen by the users for their aesthetic appeal.

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Market Drivers:

•          Adoption of new and recently launched products endorsed by various celebrities and sports personalities as a fashion statement from the population; this factor is expected to act as a driver for the market growth

Market Restraints:

•          Increasing fluctuations in the prices of raw materials is expected to act as a restraint to the market growth

Market Analysis: Global Footwear Market 

Global footwear market is expected to grow with a steady CAGR in the forecast period of 2019-2026. The report contains data from the base year of 2018, and the historic year of 2017. This rise in market value can be attributed to the innovations and advancements regarding the comfort and functionality of the footwear without compensating on their aesthetic appeal.

Segmentation: Global Footwear Market 

•          By Type

o    Non-Athletic

o    Athletic

•          By Distribution Channel

o    E-Commerce

o    Direct

o    Retail

o    Others

•          By End-User

o    Children

o    Men

o    Women

•          By Material

o    Leather

o    Non-Leather

Competitive Analysis: Global Footwear Market 

Global footwear market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of footwear market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

Key Developments in the Market:

•          In September 2018, Under Armour, Inc. in collaboration with Hollywood star “Dwayne Johnson”, announced the launch of two new sneakers under the Project Rock 1 collection which were sold out in thirty minutes in their previous launch in May.
•          In August 2018, Reebok launched innovative footwear that is made up of cotton and corn making it the first ever sustainable sneaker.

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