ALBANY, N.Y., March 24, 2022 (GLOBE NEWSWIRE) -- The Europe footwear market was valued over US$ 235.4 Bn in 2020. The market is likely to develop at a CAGR of 8.5% during the forecast period, from 2021 to 2031. The Europe footwear market is expected to cross the US$ 572.5 Bn mark by 2031. Due to the convenience of online buying, Internet retail has seen rapid development throughout the COVID-19 situation, and this trend is projected to continue as more people get access to the Internet. However, in Europe's footwear business, fierce rivalry drives firms to introduce newer styles and patterns. As a result, experimenting with lightweight materials and lowering the end product price are important methods for gaining a competitive advantage over competitors. Footwear companies are paying attention to women, children, and those with impairments. Companies are collaborating with designers and textile experts to create new footwear styles that are comfortable, inexpensive, and fashionable.
The growth of the Europe footwear market is likely to be fueled by the fast expansion of mobile shopping apps and ecommerce. Furthermore, people consider Internet shopping for discounts and a positive shopping &transaction experience.
Specialty stores in Europe are meeting customer expectations with innovative items and enticing offers, which is projected to drive the Europe footwear market during the forecast period. Department stores that currently have a small presence are projected to expand over time. Individual merchants and corporate outlets with strong relationships with customers, on the other hand, are likely to grow their footwear sales.
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Key Findings of Market Report
- Footwear companies are diversifying their product lines for children by including creative designs and unique technologies. Children with impairments can now wear their shoes hands-free due to such footwear lines. Footwear companies are also paying attention to the handball sports category as a way to broaden their performance range. Consumers and Olympic participants are likely to benefit from these carefully developed footwear collections.
- Textile experimentation aids in the development of new footwear designs. The expanding European textiles industry has resulted in an incredible variety of textures and colors in fabrics. Different knits, weaves, fabric, fibers, and weights are all options in textiles. Textiles in shoes have the benefit of being versatile in terms of fashion and patterns.
- Growing demand for stylish yet comfortable footwear, together with changing lifestyles and increase in consumer disposable income, is projected to provide an incredible growth opportunity for the Europe footwear market.
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Europe Footwear Market: Growth Drivers
- Customers in Europe have a strong propensity to buy high-end products. Expansion of the footwear market is influenced by the availability of limited stock footwear items with superior quality attributes and brand prospects available through business websites.
- Specialty retailers in Europe are anticipated to help the development of footwear industry by meeting customer demands with newer items and exciting offers. Department shops with a small presence are projected to expand over time.
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Europe Footwear Market: Key Players
Some of the key market players are
- Fal Calzados de Seguridad S.A.
- William Lamb Footwear Ltd
- G&G Footwear S.r.l.
- Bata Corporation
- Imac Group Spa
- PUMA SE
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Europe Footwear Market: Segmentation
Type
- Athletic
- Non-athletic
Material Type
- Leather
- Textiles
- Other Synthetic
End User
- Men
- Women
- Kids
Price
- Mass
- Premium
Distribution Channel
- Online
- Offline
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