Global Footwear Market: Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

The Footwear Market Report has been segmented on the basis of product type, material type, application, and region.  In the global footwear market duplication of footwear and sometimes high costs in the market are the major factors expected to hamper the growth of the global market to a certain extent.

Global Footwear Market Overview:

The Footwear Market was valued at $236.4 billion in 2021 & is projected to reach $324billion by 2028. It is expected to grow at a 4.3% CAGR between 2021 and 2028.

Footwear is a garment or covering used to worn on the feet to protect against adversities of the environment, such as various ground textures and temperature, hygiene and adornment. Footwear having two main types athletic footwear and non-athletic footwear.

Global Footwear Market Dynamics:

Increasing preferences towards sports activities and demand for sports shoes among the health-conscious population are major factors expected to bolster growth of the global target market over the forecast period.

Growing awareness about physical appearance and growing demand for trendy footwear across the globe are some of the major factors expected to fuel the growth of the global footwear market during the forecast period.

Furthermore, rising preference towards comfortable and fancy footwear among individuals is also anticipated to bolster growth of the global market in the next 10 years.

Rapidly rising adoption of e-commerce shopping of footwear owing to availability of variety and it saves times is a key trend, expected to drive growth of the global footwear market.

Global Footwear Market Segment Analysis:

Among product types, the non-athletic footwear segment is projected to account for significant revenue share in the global market over the forecast period, owing to high demand for casual footwear such as loafers, and boat shoes, among the male population. Athletic footwear is comfortable and available in different styles and colors in the target market.

Among application, the women’s footwear segment is expected to register substantial growth, owing to various discounts offered by sellers and it aids to convenient and hassle-free shopping experience on online stores.

Global Footwear Market Regional Analysis:

Asia Pacific market for footwear accounts for significant shares in terms of revenue in the global market, owing to rapidly growing urbanization and adoption of the western lifestyle.

In addition, an increasing population, rising disposable income, governmental initiatives in the development of economy are another factors expected to propel the growth of the target market in the region.

Increasing demand for athletic footwear in North America is one of the key factors expected to support the revenue growth of the footwear market. Moreover, the high disposable income of the population and superior quality is expected to fuel target market growth in countries in the region.

Market in Middle East and Africa and Latin America are expected to register a moderate growth in terms of CAGR in the global market, owing to high demand for non-athletic footwear in countries in the region.

Global Footwear Market Segmentation:

Segmentation by Product Type:

• Athletic Footwear
  • Running and Cross Training/Tennis Shoe
  • Soccer/Football Shoe
  • Golf Shoe
  • Hiking Shoe
  • Baseball Shoe
• Non-Athletic Footwear
  • Casual Footwear
  • Dress Evening Footwear
  • Military Boots
  • Lite Hiking Outdoor Sandal

Segmentation by Material Type:

• Rubber
• Plastic

Segmentation by Application:

• Men’s Footwear
• Women’s Footwear
• Kid’s Footwear

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa