Global Footwear Market Report 2022: U.S. Market is Estimated at $105.8 Billion in 2021, While China is Forecast to Reach $80.9 billion by 2026

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Mar 10, 2022, 11:15 ET

DUBLIN, March 10, 2022 /PRNewswire/ -- The "Footwear - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Footwear Market to Reach $440 Billion by 2026

The global market for Footwear estimated at US$384.2 Billion in the year 2020, is projected to reach a revised size of US$440 Billion by 2026, growing at a CAGR of 2.3% over the analysis period.

Casual Footwear, one of the segments analyzed in the report, is projected to grow at a 2.6% CAGR to reach US$213.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Athletic Footwear segment is readjusted to a revised 1.9% CAGR for the next 7-year period. This segment currently accounts for a 37.6% share of the global Footwear market.

China, India, Brazil, Italy, Vietnam, Indonesia, Mexico, Thailand, Turkey and Spain are the leading producers of footwear, while USA, Japan, Germany, UK, France and Italy are the major consumers and importers of footwear. Korean and Taiwanese footwear makers are the forgotten lot who once dominated the global production scene.

The U.S. Market is Estimated at $105.8 Billion in 2021, While China is Forecast to Reach $80.9 billion by 2026

The Footwear market in the U.S. is estimated at US$105.8 Billion in the year 2021. The country currently accounts for a 27.14% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$80.9 Billion in the year 2026 trailing a CAGR of 3.6% through the analysis period.

Apart from being a lucrative market for non-athletic footwear, China is also emerging to be a strong market for athletic footwear mainly due to regulatory initiatives relating to fitness and national exercise programs, rapid pace of urbanization, increasing per-capita incomes, international sporting events organized in the country, and increasing participation in recreational sports, among other factors.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.5% and 1.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.8% CAGR while Rest of European market (as defined in the study) will reach US$83.8 Billion by the end of the analysis period.

Growth in these regional markets has and continues to be supported by footwear increasingly being considered a fashion accessory by many, and also due to robust demand for innovative and novel footwear. Rising adoption of comfortable and trendy footwear among consumers in various age groups is also driving demand in these markets.

Rising interest and participation in various sports and also transforming lifestyles are spurring adoption of athletic footwear, even among people who are not sports oriented. In recent years, interest in fitness and health related activities has been on the rise among customers. This is spurring demand for innovative and technically advanced sportswear products. Several international brands have been integrating sportswear and fashion wear to attract customers.

Outdoor/Rugged Footwear Segment to Reach $27 Billion by 2026

Outdoor/Rugged footwear is specially designed for high-performance outdoor activity such as trekking; trail running, kayaking, mountaineering, rock-climbing and others. They incorporate high-quality materials to combat extreme climates and suit various traction requirements, unlike everyday outdoor casual wear shoes. In the global Outdoor/Rugged segment, USA, Canada, Japan, China and Europe will drive the 2.6% CAGR estimated for this segment.

These regional markets accounting for a combined market size of US$17.4 Billion in the year 2020 will reach a projected size of US$20.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.

Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$3.4 Billion by the year 2026, while Latin America will expand at a 2.8% CAGR through the analysis period.

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
Urbanization: A Megatrend with Significant Implications for Footwear Market
Growing Affluence of Expanding Middle Class Population
Rising Living Standards & Changing Lifestyle Trends
Competitive Landscape
Footwear Market: Characterized by Intense Competition
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 (Total 470 Featured)

adidas AG
Reebok International Limited
ANTA Sports Products Limited
ASICS Corporation
Bata
Bata India Ltd.
Caleres
Deckers Brands
ECCO Sko A/S
Feng Tay Enterprises Co., Ltd.
Geox s.p.a
Gucci Group NV
Kenneth Cole Productions, Inc.
LaCrosse Footwear, Inc.
Nike Inc.
Nine West
Power Athletics Limited
Puma SE
RG Barry Corporation
Timberland LLC
Vans, Inc.
Weyco Group Inc.
Wolverine World Wide, Inc.

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
Athletic Footwear
Outdoor/Rugged Footwear
Casual Footwear
Dress/Formal Footwear
Footwear Accessories
Select Glossary of Footwear Terminology

4. GLOBAL MARKET PERSPECTIVE

III. REGIONAL MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/al03f3

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