Although there is more bad news about the retail industry than good news, a recent survey by the research firm Transparency Market Research shows that the annual compound annual growth rate of the global footwear market in 2017-2025 is expected to reach 3%.
Transparency Market Research (TMR), a multi-customer, customized research and consulting service provider, expects the global footwear market to grow from US$215.71 billion in 2016 to 2025, taking into account currency growth. 278.86 billion U.S. dollars. The market leader will still be Nike (new products such as NikeLab x Johanna F. Schneider Collection and Nike Free Trainer 5.0 will help Nike continue to grow), followed closely by Adidas AG, Puma SE, and New Balance Inc. And Asics Corp. According to TMR's chief analyst, “Expanding product categories and infiltrating into new markets are key factors in the growth of the footwear market.â€
Compared to the past, footwear is now more regarded as a fashion accessory. Not only that, but the demand for stylish and comfortable footwear among people of all ages continues to grow. This is a key factor in promoting the global footwear market. As more and more people participate in sports activities and changing lifestyles, the demand for sports shoes from non-professional athletes also increases.
2016 global footwear market performance
In terms of product type, footwear market products are mainly divided into sports shoes and non-sport shoes. Non-sports shoes will have a higher share in the market, with sales and sales accounting for 52.9% and 64% of total sales in 2016, respectively.
In terms of product materials, it is mainly made of rubber, plastic and other materials. Rubber footwear was dominant in 2016, with sales and sales accounting for 24.2% and 25.6%, respectively.
As far as distribution channels are concerned, they are mainly divided into e-commerce, supermarkets and hypermarkets, independent retail stores, and professional shoe stores. In 2016, e-commerce, independent retail stores, supermarkets and hypermarkets accounted for more than 70% of market sales.
Geographically speaking, this report divides the world into six markets: North America, Europe, Asia Pacific, South America, the Middle East, and Africa. The North American market has the highest sales, accounting for 35.6%; the sales volume is the highest in the Asia Pacific region, with a ratio of 40.5%.
Current major players in the global footwear market include Adidas AG, Nike Inc., New Balance Inc., Puma SE, Asics Corp., Bata Limited, Deichmann SE, Skechers USA Inc., VF Corp., WL Gore & Associates Inc., Sympatex. Technologies GmbH, Kathmandu Holdings Limited, Columbia Sportswear Company, New Balance Inc., Aldo Group Inc., VF Corp. and Jack Wolfskin.
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