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.
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.
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.
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.
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
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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