The footwear market has witnessed the advent of a number of demographic trends underpinning its various trajectories. Gone are the times when footwear used to be worn for protection or when new varieties could only touch the sensibilities of females. Footwear is increasingly gaining popularity as a fashion accessory not only among women but men alike. The types of footwear is in many ways reflects the personality of consumer in the footwear market. One area that has gained substantial attention of manufacturers in recent times is the athletic footwear, seeing constant product developments and innovations. The footwear market has conquered new demographics with the advent of products made to suit a variety of consumer ends. Efforts to bring design innovations in products underlie the demand for more comfort, convenience, durability, and functionality for various segments of end consumers, including children.
Fact.MR sees large promising avenues in the global footwear market and anticipates the market to rise at a CAGR of 4.5% during the forecast period of 2017–2022. The footwear market will reach a worth of US$450 billion by the end of 2022.
Emerging Fashion Trends to pave way for Products Developments in Footwear Market
The increasing role of footwear as precursor to new fashion trends is a lucrative proposition in the market. Of rising significance has been new shopping trends shoes for men and women in the global footwear market. New trends in the footwear market in recent years have been potentially shapes by celebrity styles among consumers in developed markets. These styles are setting pace for new consumer craze in the overall footwear market. The rising launch of a number of celebrity-inspired brands is also making waves in emerging markets for footwear.
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Both Casual and Occupational Footwear equally Attractive—Targeting these open New Avenues for Footwear Manufacturers
Focusing on casual and occupational give brands and manufacturers access to separate demographics in the global footwear market. And as has been observed in the evolution of the footwear market, both segments are lucrative avenues constantly tapped by companies. The demand for new casual footwear types characterized by a combination of style and comfort is rising among teenagers and adolescents. This has been remarkably fueled by proliferation of casual footwear products on e-commerce sites with their competitive pricing. The benefit of choosing from a vast variety of color and styles that online channels offers has been pivotal for the expansion of the casual footwear market.
On the other hand, occupation category in the footwear market increasingly focus on blue collar and white collar workers. This has unlocked promising avenues in the footwear market, especially in Asia Pacific excluding Japan (APEJ).
The report titled “Footwear Market Forecast, Trend Analysis & Competition Tracking: Global Market insights 2017 to 2022”, presents a critical, evidence-based assessment of various contours of the global footwear market. The study offers in-depth insights into key trends and opportunities characterizing the current outlook and evaluates the various factors shaping the future trajectories of the demand dynamics of footwear. The report on the global footwear market assesses the prospects of various product types such as casual, fashion, occupational, therapeutic, athletic, and protective. The report takes a closer look at the market potential of materials used for footwear such as leather, natural rubber, synthetic rubber, EVA, PVC, PU, and textiles. The study offers insights into the dynamics of the footwear market based on price, such as economy, mid, premium and super-premium footwear. The study presents a critical assessment of sales channels such as online, specialists, general merchandise, department stores, and various other sales channels.
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Footwear essentially consists of shoes for all demographics and can be worn both inside and outdoor environments. The footwear market is replete with various types of shoes worn for a variety of purposes that include for getting protection and in meeting occupational needs. Designers and manufacturers of footwear world over are constantly focused on improving the comfort, design, and functionality of their products. This is leading to the emergence of new demographic segments the footwear market. The marked shifts of brands to develop footwear to meet new fashion trends and styles are creating new avenues in the footwear market.
Additional Questions Answered
The study offers a critical assessment of prevailing and emerging trends shaping the overall dynamics of the footwear market. The insights offered takes a closer look at various aspects, key oh which follow:
Does the changing demand patters of occupational footwear in the APEJ market will lead to substantial lucrative opportunities for market players?
Which fashion trends have potential to open new avenues in the footwear market?
How are the customer preferences changing in developed markets for footwear?
Which are the recent industry developments to target new demographics?
Which distribution channel will potentially impact the course of the footwear market in the coming years?
Critical Tracking of Competitive Landscape
The report offers in-depth insights into the competitive landscape and the regional and global factors altering the competitive dynamics in the footwear market. The study also shed lights on the intensity of competition prevailing among key players in the footwear market. Some of the prominent companies in the footwear market are Nike, Adidas, PUMA, Under Armor, Crocs, ALDO group, ASICS Corporation, and Deichmann SE.
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