Footwear Market Experience Significant Growth during the Forecast Period 2017 2022

Published: Mon Apr 22 2019

Fact.MR has actively published a new research study titled "Footwear Market Experience Significant Growth during the Forecast Period 2017 - 2022" to its broad online database. This assessment works to discourse the major trends, opportunities and drivers motivating the "Footwear Market" during the period between *2027 - 2022*. The insights structured for presenting the target market are procured from both primary research and secondary research, and are utilized for validation that is valuable to investors, manufacturers and new entrants. As per research findings, the global "keyword" market is expected to showcase impressive growth and CAGR during the period until 2022.

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The footwear market has witnessed the advent of a number of demographic trends underpinning its various trajectories. Gone are the times when footwear used to be worn for protection or when new varieties could only touch the sensibilities of females. Footwear is increasingly gaining popularity as a fashion accessory not only among women but men alike. The types of footwear is in many ways reflects the personality of consumer in the footwear market. One area that has gained substantial attention of manufacturers in recent times is the athletic footwear, seeing constant product developments and innovations. The footwear market has conquered new demographics with the advent of products made to suit a variety of consumer ends. Efforts to bring design innovations in products underlie the demand for more comfort, convenience, durability, and functionality for various segments of end consumers, including children.

The increasing role of footwear as precursor to new fashion trends is a lucrative proposition in the market. Of rising significance has been new shopping trends shoes for men and women in the global footwear market. New trends in the footwear market in recent years have been potentially shapes by celebrity styles among consumers in developed markets. These styles are setting pace for new consumer craze in the overall footwear market. The rising launch of a number of celebrity-inspired brands is also making waves in emerging markets for footwear.

Focusing on casual and occupational give brands and manufacturers access to separate demographics in the global footwear market. And as has been observed in the evolution of the footwear market, both segments are lucrative avenues constantly tapped by companies. The demand for new casual footwear types characterized by a combination of style and comfort is rising among teenagers and adolescents. This has been remarkably fueled by proliferation of casual footwear products on e-commerce sites with their competitive pricing. The benefit of choosing from a vast variety of color and styles that online channels offers has been pivotal for the expansion of the casual footwear market.

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There are several other factors that make APEJ market for footwear increasingly lucrative. The global footwear market is potentially benefitting from the changing fashion norms in the key economies of the region. This is also field by a burgeoning population of the continent. The APEJ market for footwear is projected to contribute around 33.0% of the revenue for fashion footwear. The regional footwear market is expected

to retain its dominance in the coming years as well. Howbeit, Europe as the regional market for footwear is emerging at a higher pace than that of APEJ. The rapid growth of the Europe footwear market is attributed to the rising demand for economy priced footwear. Among all priced-based segment, the economy segment presently contributes 40.0% in the global footwear market. By the end of 2022, this segment is expected to reach a worth of US$190 billion. This is emerging as a potential avenue for new entrants as well as incumbent players in the footwear market.

Online or e-commerce channels hold great potential for manufacturers and designers in the global footwear market. The ease of accessibility of online shopping sites and the vast variety of products that consumers can choose from is a key factor stoking the popularity of this sales channel. Coupled with these, favorable product return and exchange policies professed by these sites are also boosting the footwear market. The demand for premium footwear for meeting therapeutic ends is unlocking several prospects in developing and developed markets.

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