USD 21.48 Bn growth in Online Footwear Market | APAC to Occupy 54% Global Market Share | Technavio

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Jan 06, 2022, 02:00 ET

NEW YORK, Jan. 6, 2022 /PRNewswire/ -- The global online footwear market is growing exponentially in APAC. The rising urbanization has encouraged consumers to adopt different lifestyles and cultures. Countries such as Australia, New Zealand, China, India, Singapore, Japan, Malaysia, Vietnam, and South Korea are witnessing steady economic growth, which has improved the purchasing power of consumers. In addition, the increase in dual household incomes has increased the consumer spend on lifestyle products. All these factors are creating significant growth opportunities for market players.

Attractive Opportunities in Online Footwear Market by Product and Geography - Forecast and Analysis 2021-2025

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One of the primary growth drivers for this market is the rising popularity of digital payment system. In addition, the rise in online spending and smartphone penetration will further accelerate the growth of the global online footwear market. However, the availability of counterfeit products will challenge the growth of the market.

Technavio estimates the online footwear market size to grow by USD 21.48 billion between 2020 and 2025, expanding at a CAGR of 5.29% during the forecast period. The online footwear market is expected to post a year-over-year growth rate of 4.95%.

Online Footwear Market: Segment Highlights for 2020

By product, the market is analyzed by non-athletic footwear and athletic footwear.
The non-athletic footwear accounted for maximum sales in 2020. The segment is driven by the growth of the private label brands. Also, the increasing demand for trendy non-athletic footwear from Generation Z and millennials is contributing to the growth of the segment.
The market growth in the non-athletic footwear segment will be significant during the forecast period.

Regional Analysis

54% of the growth will originate from the APAC region.
APAC will offer significant growth opportunities for vendors during the forecast period.
The increasing number of online users and growth of the e-commerce industry will foster the online footwear market growth in APAC.
China and India are the key markets for online footwear in APAC.
Market growth in the region will be faster than the growth of the market in Europe, MEA, North America, and South America.

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Notes:

The online footwear market size is expected to accelerate at a CAGR of 5.29% during the forecast period.
The online footwear market is segmented by Product (Non-athletic footwear and Athletic footwear) and Geography (APAC, North America, Europe, South America, and MEA).
The market is fragmented due to the presence of many established vendors holding significant market share.
The research report offers information on several market vendors, including adidas AG, Alibaba Group Holding Ltd., Amazon.com Inc., ASICS Corp., Bata Brands SA, eBay Inc., Fila Holdings Corp., Flipkart Internet Pvt Ltd, GEOX Spa, and Nike Inc.

Sports Footwear Market by Product, End-user, Distribution Channel, Application, and Geography - Forecast and Analysis 2021-2025

Online Footwear Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 5.29%
Market growth 2021-2025	USD 21.48 billion
Market structure	Fragmented
YoY growth (%)	4.95
Regional analysis	APAC, North America, Europe, South America, and MEA
Performing market contribution	APAC at 54%
Key consumer countries	China, US, India, France, and Germany
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	adidas AG, Alibaba Group Holding Ltd., Amazon.com Inc., ASICS Corp., Bata Brands SA, eBay Inc., Fila Holdings Corp., Flipkart Internet Pvt Ltd, GEOX Spa, and Nike Inc.
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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