New York, According to a new market research report published by Global Insight Services “Footwear Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Footwear is a type of garment that is worn on the feet. The term “footwear” can refer to a wide variety of shoes, sandals, boots, and other types of footwear. Footwear is a very important part of many people’s lives and there are many different trends that can be seen in the footwear market.
Early shoes were made mostly of leather, which was tough but flexible and allowed the foot to breathe. Today, however, many shoes are made of synthetic materials such as nylon and polyester, which are lighter and more durable than leather. Some shoes are even made of space-age materials such as Kevlar and carbon fiber.
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Key Trends
One of the biggest trends in footwear right now is the athleisure trend. This trend is all about shoes that can be worn both for working out and for everyday casual wear. Many brands are now creating shoes that are stylish and comfortable enough to be worn for both purposes. This trend is especially popular among millennials.
Another big trend in footwear is the rise of sustainable and environmentally-friendly shoes. More and more consumers are becoming aware of the impact their choices have on the environment. As a result, they are looking for shoes that are made from sustainable materials and that have a low environmental impact. This trend is likely to continue to grow in the coming years.
Key Drivers
The footwear market is growing rapidly with the changing fashion trends and the increasing purchasing power of consumers. The following are some of the key drivers of the footwear market:
Increasing preference for stylish and comfortable footwear: There is a growing preference for stylish and comfortable footwear among consumers, especially the millennials. With the rise of social media, people are becoming more aware of the latest fashion trends and are willing to spend more on footwear that is both stylish and comfortable.
Growing health consciousness: An increasing number of people are becoming health conscious and are looking for footwear that provides good support and helps in preventing injuries. This is especially true for older consumers who are more vulnerable to foot problems.
Market Segments
By Type
• Athletic
• Non-athletic
By Material
• Leather
• Non-leather
Key Players
• Nike
• Adidas
• Puma
• Skechers
• Vans
• Under Armour
• Reebok
• Timberland
• New Balance
• Asics
• K-Swiss
• Sperry
• Fila
• Ecco
• Clarks
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Reasons to buy Footwear Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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