Footwear Market Size, Share and Trends Analysis Report by
New York, Sept. 09, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of “Footwear Market Size, Share & Trends Analysis Report By Type, By End-use, By Region And Segment Forecasts, 2022 – 2030” – https://www.reportlinker.com/p06318455/?utm_source=GNW
The global footwear market size is expected to reach USD 543.90 billion by 2030, growing at a CAGR of 4.3% from 2022 to 2030. The market has witnessed immense growth over the past few years and has captured the attention of consumers from different demographics. The growing awareness of health and lifestyle disorders, such as stress and obesity, has compelled users to embrace physical activity. This propels the demand for stylish and comfortable shoes. The athleisure segment is in constant progression compared to its fashion segment.
These sports shoes are also positioned as casual wear, which is gaining popularity among the younger population. Incorporating sports shoes into everyday fashion is a visible trend seen today.
In recent years, the participation of women in the sports segment has also increased. The number of women buying shoes is increasing and this trend is expected to continue during the forecast period.
Technological innovation, increased marketing, awareness of the right footwear, and increasing disposable income are factors that will help drive up the demand for footwear in the forecasted years.
The non-sports segment held the largest market share. A large number of players around the world manufacturing different types of footwear like boots, sandals, sneakers, and flats, to meet ever-changing consumer preferences, can be attributed to its growth.
Sustainable footwear is an emerging trend in this segment where brands source raw materials from ethical sources and are committed to eliminating environmental waste and toxins.
Men dominated the end-use segment, and the interest in outdoor activities can be attributed to this majority share. Multi-purpose shoes that feature both sport and leisure features are gaining traction among this user segment.
Even cult brands have increased their marketing spend as emerging players are also catching consumers’ attention. Major celebrity endorsements help create a huge impact in promoting sustainable footwear.
The market is dominated by well-established brands that have a strong global presence. Besides them, there are also small and medium-sized players who sell in regional markets.
Strategic partnerships, mergers and acquisitions, and collaborations are various methods adopted by brands globally to meet changing needs and gain competitive advantage over other players.
Footwear Market Report Highlights
• The sports segment is expected to register a higher CAGR during the forecast period due to the growing awareness and interest surrounding sports and sports leisure activities. Footwear personalization and personalization will also drive the sports segment during the forecast period
• The female end-use segment will grow at a substantial rate due to dedicated women’s footwear brands in the market and the growing popularity of durable products
• Asia-Pacific held the highest market share and is expected to continue the trend owing to the concentration of major players in this region and the growing disposable income of the population residing in this geographical area.
Read the full report: https://www.reportlinker.com/p06318455/?utm_source=GNW
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