Market Overview:
According to Fortune Business Insights Global Footwear Market size was valued at USD 463.87 billion in 2024 and is expected to be worth USD 495.46 billion in 2025. The market is projected to reach USD 789.52 billion by 2032, recording a CAGR of 6.88% during the forecast period.
The global footwear market includes a wide range of products such as shoes, boots, sandals, and slippers, offered in diverse designs, colors, and materials to cater to varying consumer tastes. The market's growth is fueled by increasing disposable incomes, higher demand for premium and quality footwear, rapid urbanization, and shifting consumer lifestyles.
LIST OF KEY COMPANIES PROFILED IN THE REPORT
- Nike, Inc. (U.S.)
- Adidas AG (Germany)
- Skechers (U.S.)
- Puma SE (Germany)
- Under Armour (U.S.)
- Crocs, Inc. (U.S.)
- Geox (Italy)
- ECCO Sko A/S (Denmark)
- New Balance (U.S.)
- Relaxo Footwears Limited (India)
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Segmentation:
Casual Segment Held the Largest Share Due to Comfort and Versatility
By type, the market is segmented into casual, athletic/sports, formal, and others. In 2024, the casual segment accounted for the largest share of the global footwear market, driven by the growing demand for comfort and versatile styles. Casual footwear is widely available in multiple designs and keeps pace with evolving fashion trends.
Men Segment Dominated Owing to Rising Fashion Awareness and Sports Participation
Based on end user, the market is divided into men, women, and kids. The men segment led the global market, supported by increasing fashion consciousness among men and their heightened participation in sports activities like cricket and football.
Supermarkets/Hypermarkets Segment Led Due to Extensive Brand Options and Promotional Offers
By distribution channel, the market is segmented into supermarkets/hypermarkets, specialty stores, online/e-commerce, and others. Supermarkets and hypermarkets held the dominant share, attributed to their extensive range of footwear brands, affordability, and frequent promotional discounts, which attract a broad customer base.
Geographically, the market spans North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
This report offers a comprehensive analysis of the global footwear market, covering key areas such as major product categories, distribution channels, end-user segments, and leading market players. It also explores emerging market trends and notable industry developments. Furthermore, the report delves into additional factors that have influenced and supported the market’s overall growth.
Drivers and Restraints:
High Participation in Sports and Focus on Sustainability to Spur Market Growth
The high inclination of consumers toward sports activities, such as football and cricket, for physical health benefits and fitness or enjoyment purposes propels the demand for sports shoes. The increasing participation of people in different sports events and tournaments is fueling further product demand. Consumer knowledge of the environmental impact is resulting in a surge in their interest in sustainable products manufactured from materials such as organic cotton and recyclable plastic. The top players are actively focusing on increasing their production of sustainable footgear.
However, the imposition of different regulations and policies on sales and production of footgear is expected to limit footwear market growth.
Regional Insights:
Asia Pacific Leads Global Footwear Market with Strong Manufacturing Base
In 2024, Asia Pacific emerged as the leading region in the global footwear market, driven by major manufacturing hubs like China and India. These countries play a crucial role as top footwear producers worldwide. Additionally, the rapid growth of the e-commerce sector—boosted by increased internet penetration—continues to support market expansion across the region.
North America holds the second-largest market share, fueled by a tech-savvy consumer base with a growing interest in smart footwear featuring innovations such as smartphone connectivity and built-in GPS. The U.S. dominates the regional market, with rising participation in sports like football and hockey significantly boosting demand for athletic footwear.
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Competitive Landscape:
Leading Players Focus on Cutting-Edge and Unique Footgear Development to Strengthen Their Market Positions
Intense competition comprising mid-scale, large-scale, premium, and local brands characterizes the global market. These brands are incorporating various strategic initiatives such as collaboration, production expansion, and marketing to strengthen their market positions. The leading players are focusing on cutting-edge and unique footgear development with features such as 3D printing.
Notable Industry Development:
May 2024: Skechers, an American brand of footgear and apparel, launched its new store in Prague. The store is located in High Street Na Príkope and offers products such as footgear, accessories, and apparel.
