Global Footwear Market to Reach 40B Pairs by 2025
Photo: © lzf / Bigstockphoto
According to market research conducted by IndexBox, driven by the world population growth, global footwear market as a whole is projected to continue an upward consumption trend over the next nine years. Footwear consumption is set to increase with a CAGR of +X% for the ten-year period from 2015 to 2025, which is expected to lead the market value to X billion pairs by the end of 2025.
The growth in footwear consumption will vary widely in terms of region. In the USA, for example, the fitness trend will continue to impact on footwear consumption: the need for athletic comfort and support assumes overriding precedence in the buying process. The current prevailing trend of using active wear and clothing as items of everyday attire is not set to wane, and footwear that boasts a blend of fashion and functionality will continue to perform well over the forecast period. Leading sportswear brands are expected to continue to launch and release new and appealing products ranges, aimed directly at consumers.
A series of changes beckon in the EU footwear market: new variations and style, as well as eco fashion in different footwear categories are being introduced. Current fashion trends and the higher proportion of women in work, dictate that consumers mainly prefer non-athletic, more formal footwear designs. New footwear styles are also emerging: ethical footwear and recycled footwear are providing additional market impetus.
Footwear consumption across Europe is set to be boosted by the growing fashion consciousness amongst consumers with regard to footwear products, and the increasing purchasing power of the young and teenage population. EU countries, where consumption is set to increase over the period under review, include France, the UK, Italy, Spain Germany and the Netherlands.
The Asian footwear market is forecast to record robust growth: the number of consumers in the region is increasing every year. Lifestyle changes, combined with increased levels of disposable income and the current demand for trendy fashion items are all encouraging the rapid growth of Asia's footwear market.
Do you want to know more about the global footwear market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- footwear market share
- footwear prices
- footwear industry
- footwear sales
- footwear market forecast
- footwear price forecast
- key footwear producers
Source: IndexBox AI Platform
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