An increasing number of males are gravitating towards investing in better pieces of footwear.
According to the World Footwear Yearbook released by the Portuguese Footwear Association, roughly 23.5 billion pairs of footwear were sold across the world in 2018. Footwear has long been an enormously significant element of the fashion business. Every year, enormous sums of money are invested by footwear companies all over the world in the development of emerging trends in order to propel the market forward. For expanding footwear sales among both men and women, key industry players in the footwear business are increasingly depending on convenient storefronts and e-commerce platforms. Customers are benefiting from e-commerce websites that offer regular discounts and sell shoes from various companies on a single platform.
Furthermore, sports footwear firms have boosted their customer base by having athletes market their products both on the field and in ads. This category is also fueled by people's growing health worries, which motivates them to invest in a better pair of shoes for working out outside or in gyms. All of these factors have aided in the growth of the footwear industry. In 2018, the market generated $340 billion in revenue. The footwear market will increase at a compound annual growth rate (CAGR) of 4.5 percent from 2019 to 2025, according to the research.
The footwear industry, being part of the fashion industry, is always changing and developing. Feather-based footwear has been the most popular trend in recent years. Feather-based footwear is currently being offered for ordinary consumers by prestigious companies such as Valentino, Giambattista Valli, Simone Rocha, Prabal Gurung, and others, after earning tremendous popularity in fashion shows and among celebrities across the world.
With a geographical share of 36 percent in 2018, North America dominated the footwear market. Football, baseball, basketball, and hockey, four of the continent's most popular sports, are largely responsible for this. The national leagues for various sports have pushed athletes to participate in footwear marketing initiatives.
Key Segments of the Global Footwear Market
Type Overview, 2019-2028 (USD Million)
Material Overview, 2019-2028 (USD Million)
End-user Overview, 2019-2028 (USD Million)
Distribution Channel Overview 2019-2028 (USD Million)
- Specialty Stores
- Brand Outlets
- Online Sales Channel
Regional Overview, 2019-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America