New York, NY, July 10, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Footwear Market by Product (Athletic and Non-Athletic), by Material (Rubber, Leather and Plastic), by End-User (Men, Women and Kids) and by Distribution Channel (Online Channel, Supermarkets and Hypermarkets, Independent Retail Stores and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2023”.

According to the report, the Global footwear market stood at US$ 246.07 billion in 2017. Witnessing a tremendous rise during the period from 2015 to 2021, the revenue in this footwear market is expected to reach US$ 320.44 billion by the end of the forecast period.

Tea is a type of shrub, cultivated widely in countries such as India, China, Sri Lanka, and Kenya. A Footwear refers to garments which are worn on the feet, which serves the purpose of protection. Human beings require protection for themselves from cold, dampness, dust, heat and roughness of ground while standing, walking or running. The history of the use of footwear by humankind can be traced back to the ice age about 5 million years ago. Earlier the left and right shoes were similar in shape i.e. they were straight in shape. The different right and left shoes were invented by a bootmaker, William Young from Philadelphia in 1800.

Browse through 71 Tables & 32 Figures spread over 110 Pages and in-depth TOC on “Global Footwear Market Size & Share 2017: Industry Segments, Trends, and Forecast, 2023”.

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Footwear is increasingly becoming an essential fashion accessory. The increasing demand for trendy and comfortable footwear among all age groups is the main factor responsible for the growth of the global footwear market. There is an increase in the participation of people in sports activities, which also drives the market growth. The changing lifestyle and increasing awareness about health concerns have driven the demand for athletic shoes among non-sportspeople as well. This led to an increase in demand for footwear globally. The increasing variety of products, rising population, and increase in disposable income are some of the other drivers that contribute to the growth of the footwear market. However, the availability of counterfeit products which are developed by local manufacturers is expected to slightly restrain the growth of the global footwear market.

The product segment is bifurcated into athletic footwear and non-athletic footwear. Athletic footwear segment includes running and cross training shoes, soccer/football shoes, hiking shoes, and others. The non-athletic footwear segment is sub-segmented into casual footwear, military boots, and others. Non-Athletic footwear is expected to dominate the market. In 2016, the non-athletic segment accounted for approximately 51% of the total revenue of the market. Due to changing lifestyles, there is an increase in demand for athletic footwear among the non-sports people also.

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On the basis of material, the footwear market is divided into rubber, leather, plastic, and others. Rubber is the most used material in every type of footwear. Therefore, rubber is expected to be the dominating material segment of the global footwear market within the forecast period.

Based on the end user, the market is segmented into men, women, and kids. Women’s footwear is expected to remain a dynamic category with the presence of several brands, a huge increase in points of sale, and significant budgets for marketing and advertising campaigns.

The footwear market based on distribution channel is divided into online sales, supermarkets and hypermarkets, independent retail stores and others. Online sales, supermarkets and hypermarkets and independent retail stores accounted for a large share of the global footwear market as consumers prefer to make purchases through these channels.

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North America is expected to dominate the global footwear market. In terms of revenue, in 2017, North America led the market holding approximately 34% of the revenue share of the global footwear market. A growing number of athletes and the urge to stay fit and active are the main factors driving the growth of the footwear market in this region. Also, growing fashion consciousness and innovation in product designs are some other factors driving the growth of the market.

Europe is expected to show significant growth in the years to come due to constantly changing fashion trends. Increase in popularity of sports footwear and the need for maintaining fitness has resulted in the growth of the footwear market in this region. Growing advancements in the footwear manufacturing industry are also responsible for the increase in demand for footwear in this region.

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The Asia Pacific, in terms of revenue, held approximately 29% of the total market share in the year 2017. Due to regions like China and India, which manufactures and exports the footwear to regions like the United States and the United Kingdom, there is a rapid growth expected in this region. Escalating sports activities, adoption of western culture, and availability of cost-efficient products are some of the driving factors for the growth of the footwear market in the Asia Pacific.

Some of the key players in the global footwear market are Adidas AG, Nike Inc., New Balance Inc., Puma SE, Asics Corp., Bata Ltd., Skechers USA Inc., Deichmann SE, Jack Wolfskin, Columbia Sportwear Company. Some international brands are merging sportswear with fashion wear due to increasing demand for athletic footwear.

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The global footwear market is segmented as follows:

By Product

  • Athletic Footwear
    • Running and Cross Training Shoes
    • Soccer/Football Shoes
    • Hiking Shoes
    • Others
  • Non-Athletic Footwear
    • Casual Footwear
    • Military Boots
    • Others

 By Material

  • Rubber
  • Leather
  • Plastic
  • Others

By End-User

  • Men
  • Women
  • Kids

By Distribution Channel

  • Online Sales
  • Supermarkets and Hypermarkets
  • Independent Retail Stores
  • Others

By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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