HELENA, July 20, 2022 (GLOBE NEWSWIRE) -- Data Bridge Market Research in its report titled Global Footwear Market offers comprehensive insights and detailed research on this market. The report covers the key factors that are propelling the growth of the Footwear market, untapped lucrative opportunities for manufacturers, the latest trends and latest developments that are shaping the growth of the market, and other valuable insights across different market segments. To make the business successful, adopting such a Global Footwear Market research report is one the vital keys. Market research study finds out the general market conditions while working on this report. It also figures out the probable market for a new product to be launched and assesses the client company's market share and possible sales volume. Moreover, it recognizes the types of consumers, their response and views about the products, and their thoughts on the step-up of a product. The persuasive Footwear report also estimates the most appropriate method for the distribution of certain products.
Data Bridge Market Research analyses that the footwear market is expected to reach a value of USD 31.37 billion by 2029, at a CAGR of 13.33% during the forecast period. The footwear market report examines the current growth, which is being driven by rising consumer awareness of sport activities among both men and women.
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The global footwear market appears to be fragmented due to the presence of many well-established companies. Furthermore, this raises the level of competition in the market. As a result, players are employing various strategies such as mergers, acquisitions, and joint ventures to maintain their market leadership. Several market players, for example, are collaborating with other companies in order to expand their production capabilities and develop innovative products. Many companies in the footwear industry are increasing their R&D efforts in order to develop next-generation products. In order to expand their customer base, they are also focused on providing cost-effective and high-quality products. These initiatives are expected to generate revenue opportunities in the global footwear industry.
Some of the major players operating in the footwear market are:
- Bata Brand (India)
- Honeywell International Inc. (U.S.)
- Wolverine World Wide Inc. (U.S.)
- Rahman Group (India)
- Dunlop Protective Footwear (Portugal)
- VF Corporation (U.S.)
- Uvex group (Germany)
- Hewat's Edinburgh (U.K.)
- ELTEN GmbH (Germany)
- COFRA Holding (Switzerland)
- Rock Fall Ltd. (U.K.)
- Oftenrich Holdings Co. Ltd. (U.S.)
Recent Development
- Puma SE opened its largest store in north India in Gurgaon in October 2021. The store, located in Gurgaon's CyberHub retail destination, is a "digitally-enabled experiential store" with digital touchpoints to attract digitally savvy customers who are increasingly shopping online.
- In July 2021, Nike released its 'Rawdacious colorway palette,' which is a combination of white as the primary colour, with components of pink blast, total orange, and bright crimson, for its new line of athletic footwear, which includes the Pegasus 38, Invincible Run, Air Zoom Superfly Elite 2, ZoomX Vaporfly NEXT percent 2, and Air Zoom Alphafly NEXT percent 2.
- Nike will officially launch the Nike App, the company's fastest-growing platform, in July 2021.
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Segmentation:- Footwear Market
Product Type
- Athletic
- Non athletic
Material
- Plastic
- Synthetic rubber
- Leather
- Plant based
- Others
Distribution channel
- Hypermarkets
- Online channels
- Specialty stores
- Others
End users
- Men
- Women kids
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Footwear Market Country Level Analysis:
Asia-Pacific dominates the footwear market due to the presence of a large consumer usage base in developing countries such as China, India, and Indonesia, as well as the region's growing demand for athletic and non-athletic footwear usage.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Key Drivers
- increasing demand for convenient and comfortable footwear
Due to the high demand for convenient and comfortable footwear, and companies focusing on a few key specifications, such as creative designs, product advancements, and advanced technical manipulations, the footwear market is expected to grow.
- Increased sports activities and technological advancement
the rise in sports activities, emphasis on performance, and technological advancements have resulted in the footwear gaining immense popularity in sportswear, as well as the growing demand for fashionable, comfortable, and convenient footwear, as well as the growing number of working people around the world, are some of the key factors expected to drive the footwear market during the forecast period.
Key questions answered in the report:
- Which are the five top players of the Footwear market?
- How will the Footwear market change in the next five years?
- Which product and application will take a lion's share of the Footwear market?
- What are the drivers and restraints of the Footwear market?
- Which regional market will show the highest growth?
- What will be the CAGR and size of the Footwear market throughout the forecast period?
Table of Content:
Section 01: executive summary
Section 02: scope of the report
Section 03: research methodology
Section 04: introduction
Section 05: market landscape
Section 06: market sizing
Section 07: five forces analysis
Section 08: market segmentation by product
Section 09: market segmentation by Application
Section 10: customer landscape
Section 11: market segmentation by end-user
Section 12: regional landscape
Section 13: decision framework
Section 14: drivers and challenges
Section 15: market trends
Section 16: competitive landscape
Section 17: company profiles
Section 18: appendix
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