Although there is more bad news than good news about the retail industry, a recent survey report by the research firm Fashion Market Research shows that the global footwear market's compound annual growth rate from 2020 to 2025 is expected to reach 3%.
As a multi-client, customized research and consulting service provider, Fashion Market Research (FMR) is expected to increase sales of the global footwear market from $ 205.21 billion in 2019 to 2025, taking into account currency growth factors. $ 278.86 billion. The market leader will still be Nike (new products such as the NikeLab x Johanna F. Schneider Collection and Nike Free Trainer 5.0 will help Nike continue to grow), followed closely by Adidas AG, Puma SE, New Balance Inc . And Asics Corp. FMR's chief analyst said: "Expanding product categories and penetrating into new markets are key factors for the growth of the footwear market."
Compared with the past, footwear products are now more regarded as fashion accessories. Not only that, the demand for stylish and comfortable footwear for people of all ages is increasing, which is a key factor driving the global footwear market. With more and more people participating in sports activities and changing lifestyles, the demand for non-professional athletes for sports shoes has also increased.
Specific performance of the global footwear market in 2020
As far as product types are concerned, the footwear market products are mainly divided into sports shoes and non-sport shoes. Non-sport shoes will have a higher market share, with sales and sales accounting for 49.9% and 54% of the total in 2020, respectively.
As far as product materials are concerned, they are mainly made of rubber, plastic and other materials. Rubber footwear will dominate in 2020, with sales and sales accounting for 24.2% and 25.6% of the total, respectively.
In terms of distribution channels, it is now mainly divided into e-commerce, supermarkets and hypermarkets, independent retail stores, and professional shoe stores. In 2020, e-commerce, independent retail stores, supermarkets and hypermarkets will account for more than 71% of market sales.
Geographically, this report divides the world into six markets, namely North America, Europe, Asia Pacific, South America, Middle East and Africa. Sales are highest in North America, accounting for 45.6%; sales are highest in Asia Pacific, accounting for 42.5%.
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