Transparency Market Research has published report on the global footwear market. The market is expected to grow at a pace of 3.0% growth rate during the forecast period of 2019 to 2027. With this steady rate of growth the valuation of the market will jump from US$ 235711 Mn in 2018 to US$ 307549.5 Mn by 2027. Based on the type of footwear, non-athletic footwear segment has been a dominant one in the global footwear market.
Prominent manufacturing companies are anticipated to face healthy competition during the forecast period. Some of the leading companies in the market have had significant share in the market. A few global brands in the footwear market include names such as Nike Inc., Adidas AG, Bata Limited, Puma SE, Asics Corp., Jack Wolfskin, The Aldo Group Inc., VF Corp, Kathmandu Holdings Limited, Columbia Sportswear Company, Sympatex Technologies, and WL Gore & Associates Inc. among others.
Companies are opting for mergers and acquisitions, and joint ventures with local players to expand their product portfolio. Producers in developing countries are focusing on reducing their cost of production and increase profitability for the sustainable growth of their business.
Request a sample to get extensive insights into the Footwear MarketAsia Pacific is considered the biggest market for footwear
On the basis of region, the global footwear market is divided into five key regions viz. North America, Latin America, Middle East and Africa, Asia Pacific, and Europe. Asia Pacific dominates the global footwear market. Increasing spending power, urbanization, and influence of latest fashion trends are some of the key reasons behind the growth of the footwear market in the Asia Pacific region.
In terms of geography, the footwear market is divided in this report into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America holds a major market of footwear in terms of value in the year 2018. The market of Asia Pacific is projected to expand at a significant growth rate in the forecasted timeline.
