Footwear Market Size to be Worth $543.90 Billion by 2030: Grand View Research, Inc.

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Sep 15, 2022, 11:00 ET

SAN FRANCISCO, Sept. 15, 2022 /PRNewswire/ -- The global footwear market size is expected to reach USD 543.90 billion by 2030, based on a new report by Grand View Research, Inc, expanding at a CAGR of 4.3% from 2022 to 2030. The market has shown immense growth in the past years and has caught the attention of consumers belonging to different demographics. The rising awareness surrounding health and lifestyle-related disorders such as stress and obesity has compelled users to take up physical activity. This is propelling demand for stylish and comfortable footwear. The athleisure segment is on a constant rise compared to its fashion segment.

Key Industry Insights & Findings from the report:

The athletic segment is expected to register a higher CAGR during the forecast period owing to growing awareness and interest surrounding sports and athleisure activities. Customization and personalization of footwear will also boost the athletic segment during the forecast period.
Women segment of the end-use will grow at a substantial rate owing to dedicated female footwear brands in the market, and the surging popularity of sustainable products.
The Asia Pacific held the highest market share and is expected to continue the trend due to the concentration of major players in this region and the growing disposable income of the population residing in this geography.

Read full market research report for more Insights, "Footwear Market Size, Share & Trends Analysis Report By Type (Athletic, Non-athletic), By End-use (Men, Women, Children), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Footwear Market Growth & Trends

Such athleisure shoes are also positioned as casual wear, which is gaining popularity amongst the younger population. Incorporating athletic shoes into daily fashion is a visible trend observed today. In the past years, there has also been increased participation of women in the sports segment. The number of women buying footwear is increasing, and this trend is expected to continue during the forecast period. Technological innovation, increased marketing, awareness of the right fit shoe, and an increase in disposable income are factors that will help surge demand for footwear in the forecasted years.

The non-athletic segment had the largest market share. A large number of players worldwide manufacturing different types of footwear like boots, sandals, sneakers, and flats, to cater to ever-changing consumer preferences can be attributed to its growth. Sustainable footwear is an emerging trend in this segment where brands source their raw materials from ethical sources and commit to zero environmental wastes and toxins.

Men dominated the end-use segment, and the interest in outdoor activities can be attributed to this majority share. Multi-use shoes that have features of both sports and casual wear are gaining traction amongst this user segment. Even cult brands have increased spending on marketing as emerging players are catching consumer attention too. Major celebrity endorsements help create a huge impact in endorsing sustainable footwear.

The market is dominated by well-established brands that have a strong presence globally. Apart from them, there are also small and medium-sized players who sell in regional markets. Strategic partnerships, mergers and acquisitions, and collaborations are different methods adopted by brands globally to cater to evolving needs and gain a competitive edge over other players.

Footwear Market Segmentation

Grand View Research has segmented the global footwear market based on type, end-use, and region:

Footwear Market - Type Outlook (Revenue, USD Billion, 2017 - 2030)

Athletic
Non-athletic

Footwear Market - End-Use Outlook (Revenue, USD Billion, 2017 - 2030)

Men
Women
Children

Footwear Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

North America

U.S.

Europe

U.K.

Asia Pacific

China
India

Central & South America

Brazil

Middle East & Africa

List of key players of the Footwear Market

Nike, Inc.
Adidas AG
PUMA
Geox S.p.A
Timberland
Skechers U.S.A, Inc
ECCO Sko A/S
Crocs Retail, LLC
Under Armour, Inc
Wolverine Worldwide, Inc

Check out more related studies published by Grand View Research:

Medical Footwear Market - The global medical footwear market size is anticipated to reach USD 12.97 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.7% over the forecast period. Increasing cases of foot-related issues, ankle sprain, ulcers, diabetes, and strain and foot pain owing to obesity are expected to fuel the growth of this market.
Leather Footwear Market - The global leather footwear market size is expected to reach USD 202,305 million by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 2.8% during the forecast period, attributed to the rise in working class population and disposable income, flourishing retail e-commerce sector, and evolving fashion trends in business wear. Availability of myriad products and shopping channels will further accelerate the growth.
Tactical Footwear Market - The global tactical footwear market size is anticipated to reach USD 2.37 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.1% from 2020 to 2027. Tactical footwear is usually heavier in terms of weight compared with conventional shoes and are used by military personal, paratrooper, public safety workers, and adventure sports enthusiasts.

Browse through Grand View Research's Clothing, Footwear & Accessories Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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