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Rising Household Disposable Incomes and Footwear Design Innovations Drive the Global Footwear Market


Published: September 2017

REPORT STATISTICS


  • Code: MCP-2782
  • Pages: 825
  • Tables: 241
  • Companies: 543


FOOTWEAR: A RESEARCH BRIEF

The global market for Footwear is forecast to reach US$430 billion by 2024, 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. 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 ranks as the fastest growing market, in volume terms, with a CAGR of 8% over the analysis period 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. 

    Summary of Findings

  • Design Freedom and Environmental Benefits such as Elimination of the Use of Dimethylformamide (DMF) Solvent Drive the Popularity of PU Synthetic Leather Chemicals in the Manufacture of Footwear
  • Emerging and Established Footwear Brands Resort to Celebrity Endorsements to Help Spur Sales of Non-Athletic Footwear
  • Increased Consumer Involvement in Sports and Fitness Activities Drives Demand for Athletic Footwear
  • The Rise of Multifunctional Fashion Drives the Prominence of Convertible Shoes Interchangeable With a Wide Range of Dresses
  • Growing Commercial Value of Eco-Friendly Footwear Boosts Research and Development Interest in Plant-Based Leathers

    Timeline for Analysis

  • Market Estimates and Forecasts for 2016-2024
  • Historic Review 2011-2015

    Geographic Markets Analyzed

  • US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East & Africa and Latin America (Brazil and Rest of Latin America)

    Market Segmentation & Classification

  • Product Categories/Segments:
    • Athletic (Aerobic, Baseball, Basketball, Cricket, Cross-Training, Soccer, Running, Tennis, Walking, Hiking, Hockey, Athleisure, & Others), Outdoor/Rugged, Casual, Dress/Formal, and Footwear Accessories

MAJOR PLAYERS

  • adidas AG
  • ANTA Sports Products Limited
  • ASICS Corporation
  • Bata
  • Caleres
  • Deckers Brands

KEY RESEARCH DELIVERABLES

  • Review of Industry/Market Structure
  • Analysis of Trends & Drivers
  • Insights on Macro Market Scenarios
  • Market SWOT Analysis
  • Latent Demand Forecasts & Projections
  • Comprehensive Geographic Market Analysis
  • Presentation Ready Facts & Statistical Data Findings
  • Coverage of Major/Niche Players, Market Shares & Competition
  • Coverage of major Company/Technology/Product/Financial Stories
  • Extensive Product/Service/End-Use/Technology Coverage Where Applicable