Dublin, May 13, 2021 (GLOBE NEWSWIRE) -- The "Footwear - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for Footwear is projected to reach US$403.2 billion by 2025, driven by new design trends and rising discretionary spending among the expanding base of middle class population.
Other major factors driving growth in the market include rise of smart concepts such as connected fabrics, footwear internet of things and material innovations including leather alternatives derived from fruit, palm, mushroom, pineapple and sericin. 3D printing is increasingly becoming mainstay of shoe manufacturing with the technology enabling manufacturers to cope with the overwhelming demand for a wide variety of shoe designs and mass customization.
In the casual footwear market, timeless classics are making a comeback with women preferring simple classic black pair of shoes with medium heels which serve as perfect accessory for almost any outfit. From office to date to gym, people are buying footwear for every occasion. Shoes are increasingly becoming expressive of one's personality, a trend that is driving up the concept of investment shoes defined as expensive shoes with luxury materials such as premium leather.
Sneakers are rapidly going from street fashion into the sophisticated corporate boardrooms. In a landmark change in consumer behavior, men are spending more shoes and are preferring color over the conventional black. Consumerism is the key reason behind the growing per capita consumption of footwear worldwide.
Other noteworthy trends in the market include growing popularity of dimethylformamide (DMF) free PU synthetic leather chemicals in the manufacture of footwear supported by benefits such as design freedom and environmental benefits; increased consumer involvement in sports and fitness activities and the ensuing demand for athletic footwear; and growing commercial value of eco-friendly footwear and increased research and development interest in plant-based leathers.
The rise of multifunctional fashion is driving the prominence of convertible shoes interchangeable with a wide range of dresses. Also, emerging and established footwear brands are resorting to celebrity endorsements to help spur sales of non-athletic footwear.
Athletic shoes constitute one of the leading categories of the footwear market, supporting the active lifestyles of consumers who are increasingly getting 'sporty'. Key footwear brands within the segment include Nike and adidas as well as small-sized brands and companies that offer a wide range of footwear for diverse customer segments. Companies operating within the segment are also constantly innovating on functionality, performance and comfort to evade competition.
From golfing to running, sports have become highly intertwined with consumers' day-to-day lifestyles and are not considered just recreation. Growing awareness of keeping fit, both among the ageing and the youngsters, is bolstering healthy growth, coupled with rising average per capita income. In what is being considered as a relatively new trend, gifting of athletic footwear on prominent occasions and holidays is fast catching up across the US and other markets.
In the past couple of years, footwear has earned itself as one of the most sought after holiday gifts, thereby making it one of the top five preferences for local consumers. This particular trend is expected to boost growth of the local footwear industries in the US and developed European market.
The United States, in value terms, represents the single largest market worldwide supported by robust demand for athletic and sporting footwear as a result of their acceptance as part of casual dressing among men and women. Asia-Pacific including China is a major market led by factors such as growing population, apparel needs and a parallel increase in demand for affordable mass-market footwear; westernization of lifestyles among young affluent people and a parallel increase in demand for sneakers; and growing preference for high-fashion and branded footwear among the middle class population.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- An Introduction to Footwear Market
- Footwear: Current Market Scenario and Outlook
- While Developed Regions Remain Primary Revenue Contributors, Developing Regions Emerge as Fast Growing Markets
- China Remains the Largest Production Base
- Proximity Playing a Key Role for Setting-Up Manufacturing Operations
- Socio-Economic & Demographic Trends Favor Growth
- Stable Economy
- Select Mega-Urban Regions Worldwide (2035*)
- Growing Affluence of Expanding Middle Class Population
- Rising Living Standards & Changing Lifestyle Trends
- Competitive Landscape
- Footwear Market: Characterized by Intense Competition
- Consumer Trends Intensify Competition Among Players
- Percentage Share Breakdown for Nike, adidas, New Balance, Under Armour, PUMA, Skechers, and Others
- Athletic Footwear Segment
- Nike: Going Strong
- adidas: The Closest Competitor
- Puma Remains in the Race
- Casual Footwear Market
- Outsourcing: Key Business Strategy for Leading Footwear Brands
- Companies Eye Other Outsourcing Destinations beyond China
- Pricing: Key Parameter in Competition
- Cross Industry Forays Rife, Elevating Competition Levels
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Scanning the Athletic Footwear Trends
- Demand for Athletic Shoes Surges
- Fashion-Statements Override Brand Aspirations
- Athletic Footwear: A Gift for All Occasions
- Rising Demand for Sneakers
- Riding High on Basketball
- Running Shoes - Leader amongst the Athletic Footwear Category
- Female Footwear - An Aggressive Growth Segment
- Tennis Shoes Draw Attention
- Trekking Shoes - Going on an Uphill Journey
- Cross Trainers - Increasingly Designed for Outdoor Wear
- Skating Shoes Market: An Insight
- Short Lead Times Spell Success in a Dynamic Market
- Efforts to Boost Demand
- Competition from Designer Brands
- Licensing Needs a Shot in the Arm
- Growing Sophistication of Manufacturing Technologies
- Online Sales Pick up Pace
- Shifting Brand Loyalty - A Major Concern!
- Non-Athletic Footwear: Noteworthy Trends
- Eco-Friendly Footwear: Future Directions
- Emergence of New Design Themes
- Moving in Line with Changing Fashion Trends
- Men's Shoes - Making a Style Statement
- Changing Customer Preferences
- Fashion and Comfort: Top on Women's Shopping List
- Multifunctional Shoes Gain Popularity
- Innovations in Footwear Components
- Affordable Luxury - Not just an Oxymoron in Footwear Space
- Luxury Footwear Designers Gain Traction
- Increasing Popularity of Private Labels
- Outdoor Footwear Gets Diversified
- Safety Shoes - A Review
- Innovations in Footwear Industry
- Technological Advancements in the Footwear Industry
- Futuristic Innovative Trends
- Innovative 3D Printing Technology Forays into Footwear Industry
- Smart Shoes to Transform Footwear Industry
- Major Sneakers Innovations in Shoe Industry
- Select Shoe Innovations by Popular Brands
- Consumer Insights
- Consumerism in the 21st Century
- Branding - What the Consumer Looks for
- Female Footwear Market
- The Replacement Issue
- Teenagers - A Key Segment
- Kids - The Retailers' New Favorites
- Baby Boomers - Changing Priorities
- Retail Environment
- Logistics
- Retailers under Pressure
- Small Shops - The Most Favored Targets
- Shelf Presence
- 'Space Lifting' Footwear Retailing
- E- Commerce: Evolving as a Vibrant Medium
- 'Proactive' Merchandising In-Store Garners Momentum
- Point-of-Sale Data: Understanding the Needs of the Consumer
- Huge Discounting
- Co-Branding: Crucial for the Success of P-O-P Displays?
- Manufacturers Evolving too
- FOOTWEAR: PRODUCT DEFINITIONS & OVERVIEW
- Athletic Footwear
- Outdoor/Rugged Footwear
- Casual Footwear
- Dress/Formal Footwear
- Footwear Accessories
- Select Glossary of Footwear Terminology
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 470
For more information about this report visit https://www.researchandmarkets.com/r/58n0k1