According to the Market Statsville Group (MSG), the global non-athletic footwear market size is expected to grow from USD 245.9 billion in 2022 to USD 341.9 billion by 2030, at a CAGR of 3.7% from 2022 to 2030.
The major factors driving the market's growth are rising e-commerce sales, increased advertising spending by footwear manufacturers, and rising demand for casual footwear. Furthermore, the rising prevalence of lifestyle-related health issues such as stress and obesity is encouraging an increasing demand for comfortable and fashionable footwear. Consumers made comfort a top priority long before 2020. Fashion footwear has indeed been shedding market share to more comfortable and dressy casual segments for several years. Moreover, rising population is pushing an increasing number of people in employment, which is fueling the demand for non-athletic footwear during the forecast period.
Footwear protects and comforts the human foot from stones, extreme temperatures, and other hazards. There is a wide range of footwear available on the market made from leather, rubber, plastics, and other petrochemical-derived materials. Leather is a popular material for the manufacture of footwear. Furthermore, many industry players are producing footwear with eco-friendly raw materials such as recycled carpet padding, organic cotton, recycled car tyres, and vegetable-dyed leathers. Furthermore, companies are focusing heavily on a few important components, such as advanced technical fabrications, design and development, in order to increase product sales.
The COVID-19 had a serious impact on several industries, including the footwear industry, which suffered from supply chain disruptions, delay, or order cancellations, as well as a decline in export orders. Furthermore, the shutdown of supermarkets, premium outlets, retail stores, and production plants has resulted in a global decline in footwear demand. The closure of manufacturing and production units in China has disrupted supply chains and resulted in sharp increases in the prices of various raw materials. Further. the export of footwear from India to other countries has decreased dramatically. For instance, Agra is India's leading footwear hub, was greatly affected by the pandemic since these manufacturers import numerous components and raw material such as insoles, laces, cellulose board, buckles, foam, and other materials from China, which was severely affected by the pandemic. Additionally, the pandemic had a significant impact on both online and offline footwear sales. The closure of premium outlet stores by leading footwear companies such as Adidas and Puma has had a significant impact on global non-athletic footwear market demand.
However, Several countries are assisting society in recovering from the chaotic situation through technological advancements and key initiatives. To deal with the crisis, many businesses have taken targeted and thoughtful approaches to storage space, with a greater emphasis on footwear sales via social media platforms. In India, for instance, the 'Atmanirbhar Bharat' and 'Vocal for Local' missions have assisted footwear brands in focusing on sourcing materials, manufacturing, and packaging in India. In addition, country is well-known for its leather shoe industry, and manufacturers are focusing on increasing domestic production of non-leather footwear. This has resulted in the creation of local jobs and the growth of small and medium-sized businesses, which will assist the country in becoming self-sufficient. Such initiatives are expected to generate significant revenue and growth opportunities to cop up the COVID-19 crisis.
Due to market competition and evolving customer demand as a result of the fashion industry's constant changes, market players are continuously innovating and implementing new patterns and designs in footwear. Customers seek formal wear footwear, particularly leather footwear, as well as casual footwear, or canvas shoes. As a result, the vendors' product and brand lines are constantly expanding. Premium leather footwear crafted and decorated with heavy metals such as gold and silver and richly decorated with precious stones such as diamonds is in high demand. As a result, manufacturers are presenting footwear that has been designed and embellished with premium outlook. Most metal and precious stone footwear products are usually customised to meet the needs of the customer. As a result, the use of metal and precious stones, as well as product personalization, results in product premiumization. Therefore market is expected to expand rapidly during the forecast period due to the rising demand for personalised footwear products.
Several international vendors, including Prada, Tapestry, and D&G, have production facilities or OEM partners in Asian countries such as India, China, Bangladesh, Indonesia, and Vietnam. This is due to these countries have access to low-cost manufacturing and low-cost operations. However, the cost of labor in these countries has risen rapidly in the last decade, increasing the cost of production. Evolving and dynamic economic conditions have also had a negative impact on the labor costs in the countries from which the vendors import their supplies. Raw material price fluctuations are another issue for vendors. The procurement and use of various raw materials, depending on the type of footwear, is part of the manufacturing process. These materials' prices are also affected by transportation costs. Transportation costs include the transportation of raw materials to factories, the transportation of intermediary commodities to production sites, the transportation of finished goods to storage facilities, and the delivery of finished goods to end users. Such fluctuations in raw material prices and rising labor costs may limit market growth during the forecast period.
E-commerce is becoming more popular as digital adoption grows. As a result, this is reinventing customer purchasing habits, shaping new user interactions, altering business models, and creating new growth opportunities for single and multi-brand non-athletic footwear stores around the world. Customers can easily access product information and prices through e-commerce. Furthermore, retailers are increasingly utilising technologies such as Augmented Reality (AR) to assist online customers in improving their e-commerce experience. Gucci, for instance, adopted AR virtual platforms in collaboration with Snapchat in 2020, allowing consumers to virtually try on Gucci shoes using Snapchat filters. Furthermore, as lockdowns became the new normal in response to the pandemic outbreak, businesses and consumers went more digital, offering more goods and services online. According to the United Nations' 2021 Study on Trade and Development, it increased e-share commerce's of global retail trade from 14% in 2019 to around 17% in 2020.
Based on the end-users, the market is bifurcated into women, men, and children. The women segment accounted for a larger revenue share in 2021. The The women non-athletic footwear market is being influenced by changing lifestyles, rising fashion concerns, and celebrity endorsement. Sustainable footwear, smart shoes, and casual trends are the most recent market trends in luxury footwear. Prints that have been popular in the past include animal print boots, floral print, feather heels, minimalist style heels, bright chunky sneakers, big toe sandals, and so on.
Based on the regions, the global non-athletic footwear market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2022, Asia Pacific is expected to witness the highest market share in terms of value in the global non-athletic footwear market. Land resources, labour costs, supply of materials, ecological sustainability, and sales markets all have an impact on the non-athletic footwear industry. As a result, in order to maximize profits, significant consumer markets, footwear manufacturers, distributors, and retailers around the world are shifting their attention to lower-cost countries, resulting in the continuous activity of global shoemaking bases. Asia Pacific footwear markets include Taiwan, Japan, India, and China. Rising disposable income and improved consumer living standards are key factors driving product demand in these countries.
Moreover, North America is projected to grow significantly during the forecast period. Footwear is still one of the most popular items purchased by Americans. Every year, footwear companies invest tens of millions of dollars in their workers, stores, and channels to ensure that they deliver high-quality shoes on time. The footwear industry has one of the most resilient supply chains in the world. Consumers' increasing desire for fashionable and comfortable footwear is fueling the market.
The non-athletic footwear market is extremely cutthroat, and significant competitors in the sector are using tactics including product development, collaborations, acquisitions, agreements, and growth to bolster their market positions. Most sector businesses focus on growing their operations worldwide and cultivating long-lasting partnerships.
(Note: we include the maximum-to-maximum top/key companies in the final report with the recent development, partnership, and acquisition of the companies.)
Report Attribute | Details |
Market Size in 2021 | USD 245.9 billion |
Market Size in 2030 | USD 341.9 billion by 2030 |
CAGR (2022-2030) | 6.4% |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Study Period | 2017-2030 |
Quantitative units | Revenue in USD million, CAGR, and Growth rate from 2023 to 2030 |
Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered | Product, Distribution Channel, End User |
Key companies profiled | Adidas AG, Amer Sports Corp., ASICS Corp., Callaway Golf Co., MIZUNO Corp., Nike Inc., PUMA SE, Ralph Lauren Corp., Sumitomo Rubber Industries Ltd., and Under Armour Inc. |
Customization scope | Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country & segment scope. |
Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
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The study categorizes the non-athletic footwear market based on type, material, distribution channel and end-users area at the regional and global levels.
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