Outlook of the footwear market
The market research analyst predicts the footwear market to reach a market value of around USD 216 billion by the end of 2019. The increased influence of fashion is the primary driver for the growth of this market. Consumers prefer matching their footwear with their daily outfits. The population in the age group between 14 years to 30 years is relatively more fashion conscious and contributes considerably to the replacement purchase of footwear.
The increase in marketing initiatives by vendors is also expected to contribute to the market growth during the forecast period. Celebrity-endorsed fashion, sponsoring sports teams, and attracting consumers through social media are some marketing initiatives adopted by vendors. For instance, during 2014, Adidas entered a 10-year sponsorship agreement with Manchester United for USD 1.13 billion for advertising their brand.
Segmentation by product type and analysis of – athletic footwear, non-athletic footwear
The non-athletic footwear segment accounted for 62% of the market share during 2014. The report expects this segment to reach a market value of around USD 133 billion by the end of 2019. The increasing influence of fashion is a crucial driver for this segment. Private labels such as White Stag and Faded Glory are popular in this category as they offer quality products at a relatively low price.
The report offers an analysis of each of the following segments and discusses its impact on the overall market growth -
- Athletic footwear
- Non-athletic footwear
Segmentation by distribution channel and analysis of – footwear specialists, internet sales, supermarkets
Footwear specialists accounted for around 55% of the market shares during 2014. The in-house services offered such as experienced and friendly staff, and the availability of a variety of brands under the same roof is the driving factor for the popularity of this distribution channel.
The report offers an analysis of each of the following segments and discusses its impact on the overall market growth
- Footwear specialists
- Internet sales
- Department stores
- Clothing stores
Geographical segmentation and analysis of the footwear market
- North America
North America accounted for around 40% of the market share during 2014 and is expected to retain its leadership until the end of 2019. The report predicts this region to reach a market value of USD 86 billion by the end of 2019. The US is the market leader in this region.
Competitive landscape and key vendors – Adidas, New Balance, Nike, Puma, and VF Corp
The footwear market is highly fragmented with the presence of well-diversified international vendors. There is an intense competition between these companies, enabling constant growth and innovations.
The leading vendors in the market are
- New Balance
- VF Corp
Other prominent vendors in the market include Alexander McQueen, Brooks, Burberry, Carter’s, Dolce & Gabbana, Espirit, Fendi, Gucci, H&M, Herms, Hugo Boss, Jimmy Choo, Louis Vuitton, Michael Kors, Prada, Ralph Lauren, Staurt Weitzman, Tommy Hilfiger, United Colors of Benetton, Versace, Vionic, Warrior, and Zara.
Key questions answered in the report include
- What will the market size and the growth rate be in 2019
- What are the key factors driving the footwear market
- What are the key market trends impacting the growth of the footwear market
- What are the challenges to market growth
- Who are the key vendors in this market space
- What are the market opportunities and threats faced by the vendors in the footwear market
- Trending factors influencing the market shares of the APAC, Europe, North America, and ROW
- What are the key outcomes of the five forces analysis of the footwear market