Women’s Footwear Market: Current Analysis and Forecast (2021-2027)

Women’s Footwear Market: Current Analysis and Forecast (2021-2027)

The women’s footwear market is expected to register a CAGR of approx. 5% over the period of 2021-2027. Footwear usually refers to clothing worn on the feet to protect against environmental adversity such as terrain and temperature damage. Therefore, this type of shoe mainly helps to facilitate movement and prevent injury. Shoes can also be used for fashion and jewelry. It can also show a person's status or rank within a social structure. The women’s footwear market is constituted of shoes, sneakers, luxury footwear, athletic footwear, and sporting shoes. These footwear products are made up of different materials for example leather, plastic, rubber, and fabric. The rising demand for women’s footwear is because of the high demand for convenient and comfortable footwear among women. Many companies are focusing on a few essential specifications, for example, creative designs, product advancements, and advanced technical manipulations for driving the women’s footwear market. For example, Nike has recently launched Nike Flyleather which is made from at least 50% recycled natural fiber. Furthermore, the increase in athletic activities, weight in performance, and technological developments that have made shoes extremely popular in sportswear are some factors driving the women’s footwear market.

According to the world bank, in 2021 the global population of women is 3.88 billion. This rapidly growing women population base is an indication of the rise in demand for the footwear market. Further, the growing enthusiasm and awareness regarding the health benefits of sports and fitness activities, the flourishing retail e-commerce sector worldwide, and rising levels of disposable income of consumers are the key factors facilitating the growth of the market.

Nike Inc., Adidas AG, Puma SE, Skechers U.S.A. Inc., Under Armour Inc., Wolverine World Wide Inc., Crocs Inc., ASICS Corporation, Deichmann SE, The ALDO Group Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
"Amongst Type, the sports shoe category accounted for the majority share in the market in 2020”

Based on type, the market is classified into casual shoes, boots, heels & pumps, sandals, flip-flops & slippers, sports shoes, and safety shoes. Amongst types, the sports shoe category accounted for a significant share of the market. The sporting population has significantly increased in every region. The budding sportswomen require appropriate gears designed for their specific sports and activities which in turn is driving the demand for sports shoes.
"Among Materials, the leather is expected to witness highest CAGR during the forecast period”

Based on material, the market is categorized into rubber, leather, plastic, velvet, textile, and others. Among these, leather is expected to witness the highest CAGR during the forecast period. Consumers who have active occupations or need shoes that provide more comfort and protection prefer leather footwear which significantly helps in growing this segment. The most important advantage of leather material is its durability. Genuine leather shoes last longer than synthetic shoes.
"Among distribution channels, the online stores is expected to witness highest CAGR during the forecast period”

Based on distribution channels, the market is categorized into offline stores and online stores. Among these, online stores are expected to witness the highest CAGR during the forecast period. With the development of various e-commerce companies, major vendors in this industry are choosing to sell through online platforms. This is to ensure a broader customer base by promoting the product at significant discounts and offers.
"North America to witness significant growth during the forecast period”

For a better understanding of the market dynamics of the women’s footwear market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. APAC constitutes a major market for the women’s footwear market industry and generated revenue of USD XX Million in 2020 owing to the strength of consumer expenditure and the huge size of the domestic market in the region.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.