Footwear Industry | Forecast 2030
Footwear Industry Data Book – Athletic, Non-athletic, Sustainable and Traditional/Non-sustainable Footwear Market
The demand for footwear is greatly driven by changing consumer preferences and fashion trends across the globe. Consumers seek stylish and trendy footwear, and their preferences continually evolve. Changes in fashion trends, celebrity endorsements, and social media influence strongly impact the demand for different types of footwear including athletic and non-athletic.
Access the Global Footwear Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Footwear Industry Data Book Coverage Snapshot
- Footwear Industry USD 387.74 billion in 2022 4.3% CAGR (2023-2030)
- Athletic Footwear Market Size USD 133.13 billion in 2022 5.0% CAGR (2023-2030)
- Non-athletic Footwear Market Size USD 254.62 billion in 2022 4.0% CAGR (2023-2030)
- Sustainable Footwear Market Size USD 6.78 billion in 2022 6.7% CAGR (2023-2030)
- Traditional/Non-sustainable Footwear Market Size USD 380.97 billion in 2022 4.3% CAGR (2023-2030)
Athletic Footwear Market Growth & Trends
The global athletic footwear market size is expected to reach USD 196.1 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.9% from 2022 to 2030. Athletic shoes have also been tailored for the casual market, and are popular, especially with young people. Athletic footwear is built for high performance and is considered a part of an athlete’s gear along with clothing and equipment. Athletic shoes provide sports-specific levels of cushioning, flexibility, stability, traction, and durability. Cushioning minimizes the force of impact.
Increasing awareness regarding the health benefits of sports and fitness activities that helps to reduce the risks of various illnesses, such as obesity, depression, and diabetes, is expected to fuel the growth of the market. Moreover, changing consumer lifestyles, a rise in the disposable income of consumers, and the growing retail e-commerce sector worldwide are some other factors expected to boost the market growth during the forecast period.
Order your copy of the Free Sample of “Footwear Industry Data Book – Athletic, Non-athletic, Sustainable and Traditional/Non-sustainable Footwear Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030, published by Grand View Research
Non-athletic Footwear Market Growth and Trends
The non-athletic footwear category encompasses a wide range of options, including flip-flops, tactical, loafers, diabetic shoes, medical shoes, and others, suitable for various occasions. This category has attracted significant attention from both established and emerging players in the footwear industry, including niche brands and renowned designers. This heightened interest is primarily driven by the increasing consumer preference for environmentally friendly sneakers and other types of footwear.
The demand for casual and non-athletic footwear that go well with different outfits has been driving the growth of the segment. Niche companies and startups are catering to millennial consumers by providing innovative products as these consumers are more inclined toward sustainability and ethical consumerism. For instance, Eco-Vegan Shoes offers a variety of non-athletic footwear styles such as ankle boots, heels, flats, and sneakers, all of which are certified by different eco-friendly organizations.
Sustainable Footwear Market Growth & Trends
The global sustainable footwear market size was estimated to reach USD 12.96 billion in 2030 and is anticipated to grow at a CAGR of 6.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. Over the past decade or so, consumers have become increasingly aware of the environmental impact of their purchasing decisions. They are more conscious of the materials used in products, their sourcing, and the carbon footprint associated with their production. This heightened awareness has led many consumers to seek eco-friendly alternatives, including footwear.
Innovations in sustainable materials, such as recycled plastics, organic cotton, and renewable materials like bamboo or cork, have enabled footwear manufacturers to create products that align with eco-friendly values. In addition, eco-conscious production methods, such as reduced waste, energy efficiency, and ethical labor practices, have become more prevalent in the industry.
Traditional/Non-sustainable Footwear Market Growth and Trends
Fashion trends and changing styles heavily influence the demand for non-sustainable footwear. Consumers who prioritize the latest fashion trends and designs may opt for non-sustainable options, as they tend to offer a wider variety of styles and designs. Non-sustainable footwear often comes at a lower price point compared to sustainable alternatives. Cost-conscious consumers may prioritize affordability over sustainability when making purchasing decisions.
The younger consumer groups lay huge emphasis on aspects such as color, design, and shape of products. The demand for custom-made shoes and apparel is also gaining traction among many elite runners who have the means to spend heavily on footwear. On the other hand, new and occasional runners are likely to be satisfied with off-the-rack products.
The footwear industry is marked by the existence of numerous established companies like Nike, Inc.; Adidas AG; PUMA SE; Timberland; Skechers USA, Inc.; and Under Armour Inc. These prominent players hold a significant market share and have established a strong global presence. Alongside these industry leaders, there are also smaller to medium-sized players that focus on offering a specific range of footwear and primarily cater to regional customers. To achieve business growth in regional markets, multinational players are actively pursuing strategies such as mergers, acquisitions, and other strategic initiatives.