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Footwear Market
The Footwear Market is expected to expand at a significant CAGR during the forecast period (2020-2027).
The factors driving the growth of Footwear Market includes growing demand for luxurious and premium shoes, around the world, rising use of social media platforms by the domestic players to promote their products and increasing working woman population. According to the report published by Statista, the Global Luxury Shoes Market was valued around 19 billion euros in 2018 and are further projected to reach 27 billion euros by the end of 2022, which is expected to boost the Footwear Market Growth in the approaching years. Moreover, the increasing sales of footwear products through e-commerce platforms, growing popularity of sport shoes amongst the millennials and rising investments by the leading players on research and development, are some of the additional factors supplementing the Footwear Market share. In addition, the increasing disposable incomes, rapid urbanization, growing number of shopping complexes and rise in Governments expenditure on sporting activities, are further propelling the market growth.
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However, the growth of Footwear Market is hindered attributed to increasing availability of counterfeit products.
The leading players operating in the market are, Under Armour Inc., Wolverine World Wide, Inc., PUMA, Adidas America Inc., Geox S.p.A, Timberland, Adidas America, Inc. Ecco Sko A/S, Crocs Retail, Inc. and Nike, Inc. among others.
Type: Segment Analysis
Based on Type, the Athletic segment is predicted to capture a sizeable market share during the forecast period. The increasing number of sporting events across the world such as FIFA, Commonwealth Games and Olympics and rising promotion of athletic footwear through online platforms, are accelerating the growth of the segment.
End User: Segment Analysis
As per the Footwear Market Analysis, the Women segment is anticipated to expand at a remarkable CAGR over the forecast period. The increasing spending on fashion and apparels by woman and rise in the participation of woman in the labor market, are some of the factors responsible for the growth of the segment.
Regional: Segment Analysis
According to the Footwear Market Research, the Asia-Pacific region is estimated to hold the highest market share during the forecast period increasing penetration of e-commerce platforms, rising disposable incomes, growing influence of western culture on the society and high population growth rates.
Market Segmentation
Segmentation by Type
Athletic
Non-Athletic
Segmentation by End User
Men
Women
Children
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
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GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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