Industries Study Report: footwear industry

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Footwear Industry: Traditional/Non-sustainable Footwear Market Size to grow at 4.3% CAGR by 2030

Footwear Industry Data Book - Athletic, Non-athletic, Sustainable and Traditional/Non-sustainable Footwear Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030

The global Footwear Industry was valued at USD 387.74 billion in 2022 and is anticipated to increase at a significant CAGR of 4.3% from 2023 to 2030.

Grand View Research’s footwear industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research.

Athletic Footwear Market Insights

The global athletic footwear market size was valued at USD 133.13 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5% from 2023 to 2030. Growing enthusiasm and awareness regarding the health benefits of sports and fitness activities, the flourishing retail e-commerce sector worldwide, and rising levels of disposable income of consumers are estimated to be the key trends stoking the market growth. Youngsters are getting keen on adopting a healthy lifestyle and are hence participating actively in sports and other related activities. At the same time, people have started realizing that sports and fitness activities can help ensure good health and reduce the risk of chronic disorders such as depression, cardiovascular diseases, and diabetes.

Increasing environmental concerns are restraining the growth of the athletic footwear industry. The active measures taken by the government and environmental groups toward pollution act as a restraint for the market. Industry is one of the main causes of the pollution of the rivers and environment. For instance, Puma along with other sportswear brands including Nike and Adidas was addressed as ‘Dirty Laundry’ as the subject of a report by the environmental group Greenpeace. Puma was accused of working with suppliers in China who, according to the report, contributed to the pollution of the Yangtze and Pearl rivers.

Prominent players in the market, such as Nike, Inc.; Adidas AG; Skechers USA, Inc.; and New Balance Athletics, Inc. are focusing on developing innovative technologies to increase the stability of sports shoes and make them comfortable. For instance, Adidas AG has innovated a Forged Mesh, a single-layer shoe upper with a ribbed pattern created using ARAMIS motion capture technology for determining the strain exerted on the foot. The technology helps provide maximum flexibility and adequate support along the ankle to ensure free foot movement. Other technologies patented by Adidas AG include Adaptive Traxion, Boost, Bounce, Climachill, Promeknit, and Stableframe.

Order your copy of the Free Sample of Footwear Industry Data Book - Athletic, Non-athletic, Sustainable and Traditional/Non-sustainable Footwear Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Sustainable Footwear Market Share, by Product, 2022 (%)

Sustainable Footwear Market Insights

The global sustainable footwear market size was estimated at USD 6.78 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 6.7% from 2023 to 2030. Growing consumer awareness and concern for environmental sustainability have increased the demand for eco-friendly footwear options. In addition, advancements in sustainable materials and production methods have enabled manufacturers to offer stylish and functional footwear that meets the preferences of eco-conscious consumers. Government regulations and incentives promoting sustainable practices in the fashion industry have further accelerated market growth. Moreover, the rise of ethical and socially responsible consumer behavior has boosted the adoption of sustainable footwear brands.

Sustainability has been observed to be a key trend over the years. On this front, many experts believe that innovations in production will continue to gather momentum. Many prominent market participants, including Nike and Adidas, contributed to the sustainable methods of production, such as reduced labor costs and wastage. Digitization also allows to create sample footwear with better materials and enables the use of a 3-D printer for predicting a single shoe in multiple forms, patterns, and colors.

Many footwear companies have begun to make substantial changes in their production methods. They are increasingly incorporating recycled and sustainable materials into their product lines, such as recycled PET plastics, organic cotton, and sustainable alternatives to leather. This shift reduces the consumption of virgin resources and helps divert waste from landfills. In September 2023, Nike launched its innovative recyclable shoe, the ISPA Link Axis. This groundbreaking shoe, accessible through Nike's SNKRS app, is engineered for complete disassembly, allowing each component to undergo full recycling. Nike's design approach for this shoe incorporates interlocking parts, eliminating the need for adhesive materials and minimizing the overall use of resources.

Go through the table of content of Footwear Industry Data Book to get a better understanding of the Coverage & Scope of the study

Footwear Industry Data Book Competitive Landscape

Prominent players hold a significant market share and have established a strong global presence. Alongside these industry leaders, there are also smaller to medium-sized players that focus on offering a specific range of footwear and primarily cater to regional customers.

Key players operating in the Footwear Industry are:

Crocs, Inc.
Martens
Salomon Group
ECCO Sko A/S
Merrell

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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Footwear Industry Key Players Analysis: VF Corporation, Skechers U.S.A, Inc, and Asics

Footwear Industry Data Book - Athletic, Non-athletic, Sustainable and Traditional/Non-sustainable Footwear Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030

Access the Global Footwear Industry Data Book, 2023 to 2030, compiled with details like trade data, pricing intelligence, and competitive benchmarking.

Athletic Footwear Market Report Highlights

The global Athletic Footwear Market size was valued at USD 133.13 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% from 2023-2030.

Based on type, the sports shoes segment held the second-largest revenue share in 2021. The rising health-conscious population, coupled with a high interest in athletic sports, is driving the demand for sports shoes
By end user, the men segment accounted for the largest revenue share in 2021. Sports shoes with flexibility, stability, traction, and durability are more popular among men. The women segment is expected to witness significant growth during the forecast period
Asia Pacific dominated the market in 2021 owing to the high enthusiasm among the citizens for sports, fitness, and adventure activities

Athletic Footwear Market Share, by Type, 2022 (%)

Order your copy of Free Sample of “Footwear Industry Data Book - Athletic, Non-athletic, Sustainable, and Traditional/Non-sustainable Footwear Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Sustainable Footwear Market Report Highlights

The global Sustainable Footwear Market size was valued at USD 6.78 billion in 2022 and is expected to grow at compound annual growth rate (CAGR) of 6.7% from 2023 to 2030.

Based on region, the Asia Pacific region is anticipated to grow at the fastest CAGR of 6.8% over the forecast period. Consumers in the region are looking for sustainable alternatives that align with their fashion preferences and support eco-friendly practices
Based on type, the athletic footwear segment is estimated to grow at the fastest CAGR of 6.7% over the forecast period. Continuous advancements in sustainable materials, such as recycled plastics, organic textiles, and bio-based materials, are enabling the production of high-performance athletic footwear. These innovative materials reduce environmental impact and attract consumers looking for eco-friendly options
In terms of end-user, the women’s footwear segment is anticipated to grow at the fastest CAGR of 6.7% over the forecast period. The growing awareness of sustainable fashion, particularly among women, is a significant driving force behind the increasing demand for sustainable footwear within this demographic.

Go through the table of content of Footwear Industry Data Book to get a better understanding of the Coverage and Scope of the study

Competitive Landscape

To achieve business growth in regional markets, multinational players are actively pursuing strategies such as mergers, acquisitions, and other strategic initiatives. These efforts enable them to expand their presence and market share in specific regions through partnerships or acquisitions of local companies.

Key players operating in the Footwear Industry are:

Skechers U.S.A, Inc
ECCO Sko A/S
Crocs Retail, LLC
Under Armour, Inc
Wolverine Worldwide, Inc.

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Footwear Industry: Consumer Service Adoption Trends, 2023 - 2030

Footwear Industry Data Book Covers Athletic, Non-athletic, Sustainable and Traditional/Non-sustainable Footwear Market

The global Footwear Industry generated over USD 387.74 billion in 2022 and is expected to grow at a CAGR of 4.3 % over the forecast period.

Access the Global Footwear Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Athletic Footwear Market Growth & Trends

The global athletic footwear market size is expected to reach USD 196.1 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.0% from 2023 to 2030. Athletic shoes have also been tailored for the casual market, and are popular, especially with young people. Athletic footwear is built for high performance and is considered a part of an athlete’s gear along with clothing and equipment. Athletic shoes provide sports-specific levels of cushioning, flexibility, stability, traction, and durability. Cushioning minimizes the force of impact.

Increasing awareness regarding the health benefits of sports and fitness activities that helps to reduce the risks of various illnesses, such as obesity, depression, and diabetes, is expected to fuel the growth of the market. Moreover, changing consumer lifestyles, a rise in the disposable income of consumers, and the growing retail e-commerce sector worldwide are some other factors expected to boost the market growth during the forecast period.

In addition, the technological advancements, development of new and innovative shoes, and increasing awareness regarding the importance of using the right type of shoes in order to prevent muscle injuries, leg injuries, and many others are stimulating the demand for athletic shoes. Moreover, emerging fashion trends of wearing branded athletic footwear mostly among youngsters are influencing the growth of the market. However, rising prices of raw materials and the increasing prevalence of fake and brand copied athletic footwear products are the factors that might restrict the market growth.

Given the combined effect of outlet closures and frugality resulting from the rapidly deteriorating economic situation, the discretionary character of footwear made it one of the most seriously hit businesses by the pandemic. Moreover, a decline in consumer demand for athletic footwear was noted by brands like Adidas, Nike, and Puma as consumers reduced or delayed discretionary spending in response to the impacts of COVID-19 owing to a rise in unemployment rates and diminished consumer confidence. Decreased retail traffic as a result of store closures, reduced operating hours, and social distancing restrictions could be noticed. The market is consolidated with the presence of a large number of international players and a few regional players.

Athletic Footwear Market Share, by Type, 2022 (%)

Order your copy of the Free Sample of “Footwear Industry Data Book - Athletic, Non-athletic, Sustainable and Traditional/Non-sustainable Footwear Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Sustainable Footwear Market Growth & Trends

The global sustainable footwear market size is expected to expand at a CAGR of 6.7% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market growth is attributed to the advancements and innovations pertaining to sustainable production methods and materials, along with functionality and comfort of footwear without compromising on the appeal.

Growing awareness among consumers, increasing education levels, social influences, and preference for sustainable products are anticipated to bode well for the market. Millennials and Gen X are more inclined towards individualized products. Young consumers want unique and customized products.

Footwear brands and companies are engaged in retaining their customers by practicing sustainable business practices across manufacturing and supply chain. 68% of consumers consider sustainability to be a driving factor, and hence a part of final purchase.

The sustainable footwear market is segmented into athletic and non-athletic footwear. Athletic shoe is gaining importance, and hence the innovations and developments made by the brands are necessary. Nike is perpetually on the top list in sustainable sportswear as it launched sustainable sneakers made of Flyknit material, which is made from 50% recycled fibre.

Many leading global players such as New Balance, Adidas, Nike, and Reebok have changed their way of production to be eco-friendlier. The current practice involves tackling plastic pollution via recycling. For instance, Vivobarefoot designed a line of shoes that is made of recycled bottles and Converse Renew collection uses 100% recycled plastic bottles for its shoes.

Go through the table of content of Footwear Industry Data Book to get a better understanding of the Coverage & Scope of the study

Competitive Landscape

Key players operating in the Footwear industry are:

Nike Inc.
Adidas AG
PUMA SE
Geox S.p.A
VF Corporation
Skechers U.S.A, Inc
ECCO Sko A/S

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Protective Footwear Market Growth Analysis, Future Demand, & Forecast Research Report, 2022

Global protective footwear market is anticipated to witness an exponential growth in the forecast period. Protective Footwear also termed as “safety shoe” or “boot”, is defensive equipment that helps to defend foot from direct compression threats and falling objects.

The factors that propel the growth of the market include:

Rapid industrial development
Increase in the number of accidents
Increasing consciousness among people
Government rules and regulations regarding workers safety
Introduction to innovative products

On the other hand, there are factors that may hamper the growth of the market including lack of awareness among workers in emerging countries and cheaper alternatives to safety shoes.

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Protective footwear market could be explored by product type, application, end user, and geography.

The market could be explored by product type as:

Rubber Footwear
PVC Footwear
Pu Footwear
Other

The key applications that could be explored in this market include:

Metallurgical
Building
Port
Mines
Other

The market could be explored by end-user as:

Chemical industry
Construction industry
Manufacturing industry
Oil and gas industry
Mining industry

The “Construction Industry” segment led the protective footwear market in 2017 and will continue to lead in the forecast period.

North America accounted for the major share of the protective footwear market in 2017 and will continue to lead in the forecast period.

Some of the key players that fuel the growth of the industry comprise:

Rocky Honeywell
Lehigh Safety Shoes
Georgia Boot
Ariat
Durango
Black Diamond
Baffin
Dan Post
Blundstone
Florsheim
Dr Martens
Kodiak
Impacto
Reebok
Puma
Thorogood
Royer
Xtratuf
Terra
Tingley

The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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Boot Market Worldwide Trends, Top Players, and Competitive Analysis, 2022

Global boot market is anticipated to witness an exponential growth in the forecast period. Boot is one of the widespread footwear of shoe. It covers the lower leg and whole foot and used to protect leg and foot from snow, water, and industrial constituents such as chemicals. However, lately, it is also used for fashion and style purpose.

The factors that propel the growth of the market include:

The growing influence of fashionable fashion boots
Increasing awareness regarding the benefit of boots
High technical acceptance in established countries like Canada, U.S., and France
The increasing popularity of online sales
Presence of several distribution channels

On the other hand, there are factors that may hamper the growth of the market including lack of awareness and low quality of the product.

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The market could be explored by type, material, application, distribution channel, and geography.

The market could be explored by type as:

Work boots
Sports boots
Military boots
Equestrian boots
Others

Based on the material, the market could span:

Plastic
Leather
Rubber
Polyurethane
Waterproof

The market could be explored by distribution channel as:

Supermarkets and hypermarkets
Online channels
Independent retail stores
Shoe stores
Textile retailers
Departmental stores

The ‘Supermarket and Hypermarkets’ segment led the market in 2016 and will continue to lead in the forecast period. The key factor that may be attributed to the growth of the market includes increasing demand.

Some of the key players that fuel the growth of the boot industry comprise:

Red Dragonfly
Belle
Daphne
AOKANG
ST&SAT
Meermin
Camel

Footwear Market Forthcoming Development and In-depth Industry Analysis

The Global Footwear Market is anticipated to grow considerably in the forecast period due to the growing demand for trendy as well as comfortable footwear among all age groups across the globe. Factors responsible for driving the market growth, in the recent years, include burgeoning demand for designer shoes, increase in the per capita income in both developed and developing economies, high-end clientele, and growing popularity of the athletic footwear among men.

Additionally, robust growth in the fashion industry, rising demand for latest and improved footwear designs across the globe, and large-scale production in the Asia Pacific region are expected to fuel market growth of footwear market in the upcoming years. Globally, the market is predicted to grow at high CAGR over the forecast period, providing numerous opportunities for market players to invest for research and development in the footwear market.

Moreover, declining cost of footwear due to increased production coupled with easy availability are considered as one of the prominent factors for the rapid growth of footwear market, in the recent years. Easy availability of footwear owing to the presence of numerous retail channels and the gaining prominence of e-commerce retailers is anticipated to stimulate market growth in years to come. In addition, various e-commerce retailers are adopting new techniques to understand customers buying behavior, thus vastly gaining competitive edge over their counterparts. However, increase in the number of local manufacturers and large-scale production, thereby increasing competitiveness are expected to limit market progress to a certain extent.

Commonly, footwear industry majorly consists of men, women, and children’s shoes. The footwear industry also include various types of outdoor and indoor shoes that are produced with the help of materials such as leather, plastic, and rubber. The athletic footwear is considered as one of the fastest growing segment in the footwear market with substantial revenue generation in the last couple of years. Rising adoption of athletic footwear during sports activities in order to avert injuries to leg muscle, knee pain, hip pain, and back pain, is leading to substantial purchase of athletic footwear in North America and Asia Pacifica market. Presence of numerous e-commerce websites, supermarkets, hypermarkets, local retail stores, shoe stores, independent textile retailers, and departmental stores are expected to boost overall market performance in the upcoming years.

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Additionally, lowering cost of the athletic footwear in Asia-Pacific market is expected to augment market demand in near future. The recent development of innovative manufacturing technology that is increasingly adopted by industry players, has led to production of high performing and comfortable sports shoes. For example, advent of a forged mesh technology, that allows development of a single layer shoe with a ribbed pattern on the upper portion with help of ARAMIS, which is a motion capture technology, has gained a lot of appreciation and demand from North America and European region. Increasing demand form sports such as soccer, baseball, basketball, American-football, hockey, tennis, cricket and badminton is expected to boost the growth of sports shoes market segment.

The footwear industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in the manufacturing of footwear and existence of well-established manufacturing infrastructure. Asia-Pacific region is predicted to hold major market share in the footwear market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with increasing per capita income, growing penetration of e-commerce websites, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the footwear market are Adidas Co., Nike Incorporations, New Balance Incorporations, Puma Group, Asics Co., Bata Ltd., Deichmann SE, Skechers Incorporations, VF Co., W.L. Gore & Associates Inc., Fila Incorporations, Under Armour, Incorporations, Lotto Sport Italia S.p.A., The Aldo Group Inc., Reebok International, Saucony Co., Skechers Incorporations, and Woodland Worldwide.

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