The global footwear industry is predominantly influenced by consumer preferences and fashion trends. The rising demand for innovative along with comfortable products among all age groups are the key market drivers. The technological innovations and integration of the manufacturing processes have enabled the footwear industry to deliver modern, trendy, designer and comfortable footwears at reasonable prices.
Most of the footwear products are made up of leather and other non-leather materials such as tanned leather, suede leather, textile fabrics, fur and rubber. The leather is mostly used in boots and formal shoes, which are majorly preferred by men. Non-leather products are primarily preferred by women. Leather footwear holds the largest market share and is considered to be the premium product due to its high cost and demand.
The footwear market is broadly categorized on the basis of type and consumer group. On the basis of type, the market can be segmented into athletic and non-athletic footwear. Athletic footwear category is further segmented into inset shoes, sports shoes, hiking shoes and backpacking boots. Sports shoes are projected to hold the largest market share in terms of volume, whereas, insert shoes segment is expected to dominate the market in terms of value. Non-athletic footwear segment is subcategorised into casual footwear, fashion footwear and formal footwear. Casual footwear holds the largest market share in the non-athletic segment. On the basis of the consumer group, the global footwear market is segmented into men, women and kids. The men footwear segment dominates the global market.
Rising sports activity and increasing health concerns are major factors driving demand of athletic footwears. Factors such as increasing trend of online shopping, easy availability of products, product diversity and rise in the number of working professionals are further driving the global footwear market. Conversely, growing production of counterfeit products is acting as a major deterrent to global footwear market and it necessitates the enforcement of intellectual property rights.
ASDReport.com has a good collection of reports on footwear market. The reports cover several segments like shoe stores, skating shoes, sportswear, women’s footwear and much more.