The
global footwear market was worth USD 185.2 billion in 2011 and is
expected to reach USD 211.5 billion in 2018, growing at a CAGR of
1.9% from 2011 to 2018. In the overall global market, Asia Pacific is
expected to maintain its lead position in terms of revenue till 2018.
Asia Pacific is expected to enjoy 30.1% of the global footwear market
revenue share in 2018 followed by Europe.
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The
global footwear market is experiencing a stable growth rate due to
changing fashion trends. This market has exhibited sustainable
development owing to driving factors such as rising demand for
innovative designs, growing awareness about healthy and active
lifestyle, rising population and disposable income levels, and rise
in retail culture.
The
athletic footwear market is expected to grow at a CAGR of 1.8% from
2011 to 2018 to reach USD 84.4 billion by 2018. Non-athletic footwear
is the largest market segment and is expected to grow at a faster
CAGR as compared to the athletic footwear segment. Various fashion
trends in the market such as demand for innovative designs and
styles, and celebrity endorsement is driving the non-athletic
footwear market.
The
global footwear market is segmented into Men, Women and Kids
footwear. Men's footwear market is a leading segment with 52% market
share of the overall footwear market. Kids footwear market is
expected to grow at a CAGR of 3.7% due to the high demand of
comfortable and designer footwear for kids.
Based
on type of distribution, footwear retailing is sub-divided into
store-based and non-store retailing. Store-based footwear retailing
accounted for most of the footwear market revenue and is valued at
USD 173.6 billion in 2011. Non-store footwear retailing is expected
to gain pace in future and is expected to grow at a CAGR of 6.9% from
2011 to 2018 to reach USD 18,588 million by 2018.
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The
Asia Pacific region holds the largest share at 42% of the overall
footwear market and is expected to grow at a CAGR of 2.1% from 2011
to 2018 followed by Europe with 21% of market share. The Asia Pacific
region remains the point of focus for footwear manufacturers due to
the cheaper cost of manufacturing and faster growth in population and
disposable income of consumer groups.
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Nike
is the world leader in athletic and non-athletic footwear segment and
comprehensively leads the overall global footwear market. The
footwear market is largely consolidated with top five players
including Nike, Adidas, Reebok, Puma and New Balance holding around
70% market share. Other major players in the footwear market are
Asics, Converse, Sketchers and K-Swiss. The popularity of local
manufacturers and growing piracy in developing countries remains the
major challenge for global footwear manufacturers.
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