Portland, OR — (PRESS RELEASE JET) — 09/29/2017 — Global Footwear Market is expected to garner $371.8 billion by 2020, registering a CAGR of 5.5% during the forecast period 2015 – 2020. Footwear industry is growing at a steady pace since the past few years. Analysis of the report includes various types of footwear including athletic and non-athletic shoes used by individuals of all age groups and gender.
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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.
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
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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