Footwear Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

  • Published: May 2021
  • Pages: 150
  • SKU: IRTNTR40599

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The footwear market share is expected to increase by USD 16.85 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 1.13%.

This footwear market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers footwear market segmentation by product (non athletic footwear and athletic footwear), end-user (women, men, and children), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and MEA). The footwear market report also offers information on several market vendors, including adidas AG, ASICS Corp., Burberry Group Plc, New Balance Athletics Inc., Nike Inc., PUMA SE, Skechers USA Inc., Under Armour Inc., VF Corp., and Wolverine World Wide Inc. among others.

What will the Footwear Market Size be During the Forecast Period?

Footwear Market Size

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Footwear Market: Key Drivers, Trends, and Challenges

The rising demand for exclusive designer collections is notably driving the footwear market growth, although factors such as rising labor cost and fluctuating raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the footwear industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Footwear Market Driver

One of the key factors driving growth in the footwear market is the design and material innovations leading to product premiumization. The vendors are constantly innovating and introducing new patterns and designs due to market competition and evolving customer demand because of continuous changes in the fashion industry. Customers seek footwear for formal, especially leather footwear, and casual, such as sports or canvas shoes, purposes. Therefore, the vendors regularly expand their brand and product lines. Athletic footwear belongs to the promoted product segment. The demand for such footwear has been increasing because of the availability of innovative products, which offer premium appeal, that can also be used as partywear. High demand and premiumization allow manufacturers to increase the price of their products. Innovations in designs and celebrity endorsements of products have enabled vendors to cater to the demand from the high-income customer base. Key vendors design personalized and customized athletic shoes to expand their customer base.

Key Footwear Market Trend

The increasing demand for customized footwear is another factor supporting the footwear market share growth. Customization is available for various types of footwear. The customization of premium footwear includes the application of hard metals, such as gold and silver, and precious stones, such as diamonds. In the last five years, the popularity of customized products has increased in developed regions such as the Americas and Europe. Emerging countries, such as China and India, are also experiencing a growing demand for customized premium goods, including premium footwear. In the premium segment, the leading vendors offer customized products, which have an aesthetic appeal. The extent of personalization can vary from design, logo, color, buckles to embroidery or adding names. The advent of the customization of footwear globally complements market growth through new purchases. During the forecast period, the customization of footwear is expected to increase the revenues of the footwear manufacturers.

Key Footwear Market Challenge

The rising labor cost and fluctuating raw material prices will be a major challenge for the footwear market during the forecast period. Several international vendors, such as Prada, Tapestry, and D&G, have their own production facilities or original equipment manufacturers (OEMs) in Asian countries, such as China, India, Indonesia, Bangladesh, and Vietnam. This is due to the availability of low-cost manufacturing and the low cost of operations in these countries. However, in the last decade, the cost of labor in these countries rose rapidly, which increased the cost of production. Evolving and dynamic economic conditions have also adversely affected the cost of labor in countries from which the vendors import their supplies. Therefore, the rising cost of production for the manufacturers lowers their profit margins. Fluctuations in raw material costs are another challenge for vendors. The cost of these materials is also dependent on transportation costs. The transportation costs incurred by companies include taxes, duties, and fuel costs. A major portion of the transportation cost incurred by the vendors is the cost of fuel, which fluctuates frequently. An increase in transportation costs increases the cost of end-products.

This footwear market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

The global footwear market is a part of the global apparel, accessories & luxury goods, footwear, and textiles market. The global apparel, accessories & luxury goods, footwear, and textiles market was valued at $4554.86 billion in 2020. Technavio calculates the global textiles, apparel, and luxury goods, footwear and textile market size based on the combined revenues generated by manufacturers/marketers of textile, apparel, footwear, accessories, and luxury goods. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the footwear market during the forecast period.

Who are the Major Footwear Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:


  • adidas AG
  • ASICS Corp.
  • Burberry Group Plc
  • New Balance Athletics Inc.
  • Nike Inc.
  • Skechers USA Inc.
  • Under Armour Inc.
  • VF Corp.
  • Wolverine World Wide Inc.


This statistical study of the footwear market encompasses successful business strategies deployed by the key vendors. The footwear market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The footwear market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Footwear Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the footwear market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the footwear market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Footwear Market?

Footwear Market Market segmentation by region

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38% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for footwear in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The rising disposable incomes of people, the increasing preference for premium footwear, and the growing health consciousness among people will facilitate the footwear market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of the COVID-19 pandemic hampered the footwear market in the region, especially in highly-populated countries such as China and India, as the governments of these countries imposed nationwide lockdowns to prevent the spread of the disease. The sales of footwear products witnessed a decline until the second half of 2020, as people were still practicing self-isolation. On the other hand, fitness practices at home will further increase the demand for footwear, primarily through online distribution channels. Therefore, the market in focus is expected to grow during the forecast period.

What are the Revenue-generating Product Segments in the Footwear Market?

Footwear Market Segmentation

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The footwear market share growth by the nonathletic footwear segment will be significant during the forecast period. The key factors driving the demand for non-athletic footwear include the growing consumer fashion consciousness and the rising introduction of trendy shoes in the men and children segments. In addition, the demand for private-label brands is increasing due to the availability of top-quality product offerings at low prices. The growth in the demand for premium non-athletic footwear is mainly attributed to the rising disposable income of the population across the globe. High disposable incomes of consumers raise their spending power, empowering them to spend more on premium fashion products such as footwear. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the footwear market size and actionable market insights on post COVID-19 impact on each segment.


Footwear Market Scope

Report Coverage


Page number


Base year


Forecast period


Growth momentum & CAGR

Accelerate at a CAGR of 1.13%

Market growth 2021-2025

$ 16.85 billion

Market structure


YoY growth (%)


Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 38%

Key consumer countries

US, China, UK, Germany, France, and India

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

adidas AG, ASICS Corp., Burberry Group Plc, New Balance Athletics Inc., Nike Inc., PUMA SE, Skechers USA Inc., Under Armour Inc., VF Corp., and Wolverine World Wide Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Footwear Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive footwear market growth during the next five years
  • Precise estimation of the footwear market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the footwear industry across APAC, North America, Europe, South America, and MEA
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of footwear market vendors

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1. Executive Summary                           

2. Market Landscape                             

                2.1 Market ecosystem             

                                Exhibit 01:  Parent market

                2.2 Market Characteristics      

                                Exhibit 02:  Market Characteristics

                2.3 Value chain analysis           

Exhibit 03:  Value Chain Analysis: Apparel, accessories, luxury goods, footwear, and textiles

                                2.3.1 Inputs

                                2.3.2 Inbound logistics

                                2.3.3 Operations

                                2.3.4 Outbound logistics

                                2.3.5 Marketing and sales 

                                2.3.6 Service 

                                Support activities 


3. Market Sizing                       

                3.1 Market definition

                                Exhibit 04:  Offerings of vendors included in the market definition

                3.2 Market segment analysis 

                                Exhibit 05:  Market segments

                3.3 Market size 2020 

                3.4 Market outlook: Forecast for 2020 - 2025 

                                Exhibit 06:  Global - Market size and forecast 2020 - 2025 ($ billion)

                                Exhibit 07:  Global market: Year-over-year growth 2020 - 2025 (%)

4. Five Forces Analysis                          

                4.1 Five Forces Summary        

                                Exhibit 08:  Five forces analysis 2020 & 2025

                4.2 Bargaining power of buyers           

                                Exhibit 09:  Bargaining power of buyers

                4.3 Bargaining power of suppliers       

                                Exhibit 10:  Bargaining power of suppliers

                4.4 Threat of new entrants    

                                Exhibit 11:  Threat of new entrants

                4.5 Threat of substitutes         

                                Exhibit 12:  Threat of substitutes

                4.6 Threat of rivalry   

                                Exhibit 13:  Threat of rivalry

                4.7 Market condition

                                Exhibit 14:  Market condition - Five forces 2020

5. Market Segmentation by Product                        

                The segments covered in this chapter are:

  • Non athletic footwear
  • Athletic footwear

                Non athletic footwer has the highest growth while athletic footwear has the lowest growth

                5.1 Market segments

                                Exhibit 15:   Product- Market share 2020-2025 (%)

                5.2 Comparison by Product    

                                Exhibit 16:  Comparison by Product

                5.3 Non athletic footwear - Market size and forecast 2020-2025             

                                Exhibit 17:  Non athletic footwear - Market size and forecast 2020-2025 ($ billion)

                                Exhibit 18:  Non athletic footwear - Year-over-year growth 2020-2025 (%)

                5.4 Athletic footwear - Market size and forecast 2020-2025      

                                Exhibit 19:  Athletic footwear - Market size and forecast 2020-2025 ($ billion)

                                Exhibit 20:  Athletic footwear - Year-over-year growth 2020-2025 (%)

                5.7 Market opportunity by Type          

6. Market Segmentation by End-user             

                The segments covered in this chapter are:

  • Women
  • Men
  • Children

                Here women has the highest growth than men and children segments.

                6.1 Market segments

                                Exhibit 22:  End user - Market share 2020-2025 (%)

                6.2 Comparison by End user  

                                Exhibit 23:  Comparison by End user

                                Exhibit 21:   Market opportunity by Product

                6.3 Women - Market size and forecast 2020-2025         

                                Exhibit 24:  Women - Market size and forecast 2020-2025 ($ billion)

                                Exhibit 25:  Women - Year-over-year growth 2020-2025 (%)

                6.4 Men - Market size and forecast 2020-2025               

                                Exhibit 26:  Men - Market size and forecast 2020-2025 ($ billion)

                                Exhibit 27:  Men - Year-over-year growth 2020-2025 (%)

                6.5 Children - Market size and forecast 2020-2025        

                                Exhibit 28:  Children - Market size and forecast 2020-2025 ($ billion)

                                Exhibit 29:  Children - Year-over-year growth 2020-2025 (%)

                6.6 Market opportunity by End user   

                                Exhibit 30:   Market opportunity by End user

7. Market Segmentation by Distribution channel     

                The segments covered in this chapter are:

  • Offline
  • Online

                Here offline distribution has more growth than online distribution

                7.1 Market segments

                                Exhibit 31:  Distribution channel - Market share 2020-2025 (%)

                7.2 Comparison by Distribution channel           

                                Exhibit 32:  Comparison by Distribution channel

                7.3 Offline - Market size and forecast 2020-2025           

                                Exhibit 33:  Offline - Market size and forecast 2020-2025 ($ billion)

                                Exhibit 34:  Offline - Year-over-year growth 2020-2025 (%)

                7.4 Online - Market size and forecast 2020-2025            

                                Exhibit 35:  Online - Market size and forecast 2020-2025 ($ billion)

                                Exhibit 36:  Online - Year-over-year growth 2020-2025 (%)

                7.5 Market opportunity by Distribution channel            

                                Exhibit 37:   Market opportunity by Distribution channel

8. Customer landscape                         

Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

                                Exhibit 38:  Customer landscape

9. Geographic Landscape                     

                ??The regions covered in the report are: 

  • North America 
  • Europe 
  • APAC 
  • South America 
  • MEA 

                APAC was the largest region of the market in 2020

                9.1 Geographic segmentation

                                Exhibit 39:  Market share by geography 2020-2025 (%)

                9.2 Geographic comparison   

                                Exhibit 40:  Geographic comparison

                9.3 APAC - Market size and forecast 2020-2025              

                                Exhibit 41:  APAC - Market size and forecast 2020-2025 ($ billion)

                                Exhibit 42:  APAC - Year-over-year growth 2020-2025 (%)

                9.4 North America - Market size and forecast 2020-2025           

                                Exhibit 43:  North America - Market size and forecast 2020-2025 ($ billion)

                                Exhibit 44:  North America - Year-over-year growth 2020-2025 (%)

                9.5 Europe - Market size and forecast 2020-2025          

                                Exhibit 45:  Europe - Market size and forecast 2020-2025 ($ billion)

                                Exhibit 46:  Europe - Year-over-year growth 2020-2025 (%)

                9.6 South America - Market size and forecast 2020-2025           

                                Exhibit 47:  South America - Market size and forecast 2020-2025 ($ billion)

                                Exhibit 48:  South America - Year-over-year growth 2020-2025 (%)

                9.7 MEA - Market size and forecast 2020-2025               

                                Exhibit 49:  MEA - Market size and forecast 2020-2025 ($ billion)

                                Exhibit 50:  MEA - Year-over-year growth 2020-2025 (%)

                9.8 Key leading countries        

                                Exhibit 51:  Key leading countries

                9.9 Market opportunity by geography

                                Exhibit 52:  Market opportunity by geography ($ billion)

10. Drivers, Challenges, and Trends                

                10.1 Market drivers   

                                10.1.1 Design and material innovations leading to product premiumization

                                10.1.2 Rising demand for exclusive designer collections

                                10.1.3 High influence of celebrity endorsements on customer purchase decisions

                10.2 Market challenges           

                                10.2.1 Rising labor cost and fluctuating raw material prices

                                10.2.2 Availability of counterfeit products

10.2.3 Stringent government regulations for procurement of raw materials such as leather

                                Exhibit 53:  Impact of drivers and challenges

                10.3 Market trends   

                                10.3.1 Increasing demand for customized footwear

                                10.3.2 Rising demand for footwear made of organic leather

                                10.3.3 Emergence of smart shoes

11. Vendor Landscape                           

                11.1 Vendor landscape            

                                Exhibit 54:  Vendor landscape

                11.2 Landscape disruption      

                                Exhibit 55:  Landscape disruption

                                Exhibit 56:  Industry risks

12. Vendor Analysis               

                12.1 Vendors covered              

                                Exhibit 57:  Vendors covered

                12.2 Market positioning of vendors    

                                Exhibit 58:  Market positioning of vendors

                12.3 adidas AG            

                                Exhibit 59:  adidas AG - Overview

                                Exhibit 60:  adidas AG - Business segments

                                Exhibit 61:  adidas AG – Key news

                                Exhibit 62:  adidas AG - Key offerings

                                Exhibit 63:  adidas AG - Segment focus

                12.4 ASICS Corp.         

                                Exhibit 64:  ASICS Corp. - Overview

                                Exhibit 65:  ASICS Corp. - Business segments

                                Exhibit 66:  ASICS Corp. – Key news

                                Exhibit 67:  ASICS Corp. - Key offerings

                                Exhibit 68:  ASICS Corp. - Segment focus

                12.5 Burberry Group Plc          

                                Exhibit 69:  Burberry Group Plc - Overview

                                Exhibit 70:  Burberry Group Plc - Business segments

                                Exhibit 71:  Burberry Group Plc – Key news

                                Exhibit 72:  Burberry Group Plc - Key offerings

                                Exhibit 73:  Burberry Group Plc - Segment focus

                12.6 New Balance Athletics Inc.            

                                Exhibit 74:  New Balance Athletics Inc. - Overview

                                Exhibit 75:  New Balance Athletics Inc. - Product and service

                                Exhibit 76:  New Balance Athletics Inc. – Key news

                                Exhibit 77:  New Balance Athletics Inc. - Key offerings

                12.7 Nike Inc.

                                Exhibit 78:  Nike Inc. - Overview

                                Exhibit 79:  Nike Inc. - Business segments

                                Exhibit 80:  Nike Inc. – Key news

                                Exhibit 81:  Nike Inc. - Key offerings

                                Exhibit 82:  Nike Inc. - Segment focus

                12.8 PUMA SE              

                                Exhibit 83:  PUMA SE - Overview

                                Exhibit 85:  PUMA SE– Key news

                                Exhibit 86:  PUMA SE - Key offerings

                                Exhibit 87:  PUMA SE - Segment focus

                12.9 Skechers USA Inc.             

                                Exhibit 88:  Skechers USA Inc. - Overview

                                Exhibit 89:  Skechers USA Inc. - Business segments

                                Exhibit 90:  Skechers USA Inc. – Key news

                                Exhibit 91:  Skechers USA Inc. - Key offerings

                                Exhibit 92:  Skechers USA Inc. - Segment focus

                12.10 Under Armour Inc.        

                                Exhibit 93:  Under Armour Inc. - Overview

                                Exhibit 94:  Under Armour Inc. - Business segments

                                Exhibit 95:  Under Armour Inc. – Key news

                                Exhibit 96:  Under Armour Inc. - Key offerings

                                Exhibit 97:  Under Armour Inc. - Segment focus

                12.11 VF Corp.

                                Exhibit 98:  VF Corp. - Overview

                                Exhibit 99:  VF Corp. - Business segments

                                Exhibit 100:  VF Corp.– Key news

                                Exhibit 101:  VF Corp. - Key offerings

                                Exhibit 102:  VF Corp. - Segment focus

                12.12 Wolverine World Wide Inc.        

                                Exhibit 103:  Wolverine World Wide Inc. - Overview

                                Exhibit 104:  Wolverine World Wide Inc. - Business segments

                                Exhibit 105:  Wolverine World Wide Inc.– Key news

                                Exhibit 106:  Wolverine World Wide Inc. - Key offerings

                                Exhibit 107:  Wolverine World Wide Inc. - Segment focus

13. Appendix                            

                13.1 Scope of the report         

                                13.1.1 ????Market definition

                                13.1.2 ????Objectives

                                13.1.3 ????Notes and caveats

                13.2 Currency conversion rates for US$            

                                Exhibit 108: ?Currency conversion rates for US$?

                13.3 Research Methodology 

                                Exhibit 109: ?Research Methodology

                                Exhibit 110: ??Validation techniques employed for market sizing?

                                Exhibit 111: ??Information sources

                13.4 List of abbreviations        

                                Exhibit 112: List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.


Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases


Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts



  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis


  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Footwear Market market growth will increase by $16.85 bn during 2021-2025.
The footwear market market is expected to grow at a CAGR of 1.13% during 2021-2025.
Technavio has segmented the footwear market market by product (non athletic footwear and athletic footwear) ,end-user (women, men, and children) , and distribution channel (offline and online).
adidas AG, ASICS Corp., Burberry Group PLC, New Balance Athletics Inc., Nike Inc., PUMA SE, Skechers USA Inc., Under Armour Inc., VF Corp., Wolverine World Wide Inc. are a few of the key vendors in the footwear market market.
APAC will register the highest growth rate of 38% among the other regions. Therefore, the footwear market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the footwear market market growth are:
  • design and material innovations leading to product premiumization
  • increasing demand for customized footwear
The footwear market market vendors should focus on grabbing business opportunities from the non athletic footwear segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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  • Five-force market analysis

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