Footwear Market Future Outlook, Size, Growth Drivers, 2032

Market Overview:

According to Fortune Business Insights Global Footwear Market size was valued at USD 463.87 billion in 2024 and is expected to be worth USD 495.46 billion in 2025. The market is projected to reach USD 789.52 billion by 2032, recording a CAGR of 6.88% during the forecast period.

The global footwear market includes a wide range of products, such as boots, sandals, shoes, and slippers. These items are available in diverse designs, colors, and materials, enhancing their appeal among consumers. Key factors fueling market growth include rising disposable incomes, increasing demand for premium and high-quality footwear, rapid urbanization, and shifting consumer lifestyles.

LIST OF KEY COMPANIES PROFILED IN THE REPORT

Nike, Inc. (U.S.)
Adidas AG (Germany)
Skechers (U.S.)
Puma SE (Germany)
Under Armour (U.S.)
Crocs, Inc. (U.S.)
Geox (Italy)
ECCO Sko A/S (Denmark)
New Balance (U.S.)
Relaxo Footwears Limited (India)

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Segmentation:

Casual Segment Captured Dominant Share Driven by Their Ease and Suitability Factors

In terms of type, the market is segmented into casual, athletic/sports, formal, and others. The casual segment captured the dominant global footwear market share in 2024, driven by its comfort and suitability factors. Casual footgear is available in various designs and aligns with the latest fashion trends.

Men Segment Led Market Owing to Rise in Fashion Consciousness and High Interest in Sports Activities

In terms of end user, the global market is segmented into men, women, and kids. The men segment held the leading position in the global market. The segment’s growth can be attributed to the surge in fashion awareness in the male population and their high interest in sports activities such as cricket and football.

Supermarket/Hypermarket Segment Led Market Owing to Wide Availability of Diverse Array of Brands

In terms of distribution channels, the market is categorized into supermarkets/hypermarkets, specialty stores, online/e-commerce, and others. The supermarket/hypermarket segment led the market owing to the wide availability of a diverse array of footwear brands. They also provide an extensive variety of footgear at affordable prices and offer promotional discounts, increasing consumer interest in them.

With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:

This report presents an in-depth analysis of the global footwear market, examining key aspects such as major product types, distribution channels, end-user segments, and prominent market players. It also highlights the latest market trends and significant industry developments. In addition to these areas, the report provides insights into various other factors that have contributed to the market’s growth.

Drivers and Restraints:

High Participation in Sports and Focus on Sustainability to Spur Market Growth

The high inclination of consumers toward sports activities, such as football and cricket, for physical health benefits and fitness or enjoyment purposes propels the demand for sports shoes. The increasing participation of people in different sports events and tournaments is fueling further product demand. Consumer knowledge of the environmental impact is resulting in a surge in their interest in sustainable products manufactured from materials such as organic cotton and recyclable plastic. The top players are actively focusing on increasing their production of sustainable footgear.

However, the imposition of different regulations and policies on sales and production of footgear is expected to limit footwear market growth.

Regional Insights:

Presence of Leading Footwear Producers Helps Asia Pacific to Dominate Market

Asia Pacific emerged as the dominant region in the global market in 2024. The region’s growth is fueled by the presence of countries such as China and India, which are the leading producers of footwear around the globe. The rapid expansion of the e-commerce sector, driven by heightened internet accessibility in the region, further drives the market growth in the region.

North America registers the second largest market share, driven by the presence of several tech-savvy consumers, driving demand for smart footgear equipped with cutting-edge features such as smartphone connectivity and built-in GPS. The U.S. leads the North American market, fueled by the increasing consumer involvement in sports activities, such as football and hockey, propelling demand for shoes.

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Competitive Landscape:

Leading Players Focus on Cutting-Edge and Unique Footgear Development to Strengthen Their Market Positions

Intense competition comprising mid-scale, large-scale, premium, and local brands characterizes the global market. These brands are incorporating various strategic initiatives such as collaboration, production expansion, and marketing to strengthen their market positions. The leading players are focusing on cutting-edge and unique footgear development with features such as 3D printing.

Notable Industry Development:

May 2024: Skechers, an American brand of footgear and apparel, launched its new store in Prague. The store is located in High Street Na Príkope and offers products such as footgear, accessories, and apparel.