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and secondly sports shoes for fitness enthusiasts. The footwear market likely to taste substantial

Time:2019-02-23 05:56Shoes websites Click:

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Footwear Market is projected to be worth US$278860.7 mn by 2025 in terms of revenue rising at a CAGR of 3.0% between 2017 and 2025.

This press release was orginally distributed by SBWire

Albany, NY -- (SBWIRE) -- 02/22/2019 -- The global footwear market is driven by two prominent trends. Firstly, thriving demand for designer shoes, and secondly sports shoes for fitness enthusiasts. The footwear market likely to taste substantial growth in the near future owing to changing lifestyle and spending pattern. People are inclined towards modern design , along with comfort while choosing their footwear. This is mainly owing to the increasing disposable income of the people across the globe. Some of the other factors influencing the growth of the global footwear market are discussed below-

The global footwear market is witnessing a boost as footwear manufacturers are presenting footwear more of a fashion accessory. Due to this, there is a rise in the demand of trendy yet comfortable shoes in the market. The demand is prevalent in almost all age groups – from kids to teenagers to adults.

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One noteworthy trend in the global footwear market is increasing participation of people in the sport activities, along with changing lifestyle. Rising health consciousness among people is driving the global footwear market.

To tap growth, manufacturers are focusing on expanding their product portfolio in order to gain competitive advantage in this market. Some of the international brands are tying up with regional brands to cater to changing fashion quotient of people.

Favorable supply chain is aiding the manufacturing process of footwear. The easy availability of footwear through various retail channels and the gaining prominence of online retailers is triggering the impulse buying behavior of consumers, thereby benefitting the footwear market.
On the other hand, local manufacturers are filling the market with counterfeit products. These duplicate products have significantly hampered the online distribution channel. Thus, giving a negative impact on the overall growth of the market.

Factors such as advanced manufacturing processes, technological innovations and collaborations among footwear manufacturer is helping to manufacture reasonably priced products. This, thus is helping to keep pace with the growing demand of the product.

Apart from sports shoes, trekking and hiking shoe segment is likely to grow in the near future. This is mainly because of the growing inclination of people towards adventure sports. Further, with the help of technology, manufacturers are able to deliver more comfort and flexibility for the hikers. 

Geographically, North America is expected to dominate the market with a major market share in the coming year. This is mainly because of the presence of countries such as the U.S. in the region. The country has high number of fitness enthusiasts. People tend to indulge more in sports, fitness, and adventure activities.

Asia Pacific footwear market is expected to display notable growth in the upcoming years. This is because of rising disposable income and increasing penetration of the e-commerce.

Increasing participation of people in various sports and events, which includes international sports and gaming events such as Asian Games, the ACC Asia Cup, the ICC Cricket World Cup is fueling the footwear market in Asia Pacific.

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