Global Footwear Market Rapidly Growing Due to Increasing Consumer Spending Power and Leisure Goods

Footwear is a garment wore in feet. The various materials used in manufacturing footwear are leather, jute, wood, plastic, textiles and rubber. The footwear business is a huge and increasingly diversified business, driven by changing lifestyle and fashion trends. Brand awareness and need for comfort are also fuelling the growth of the global footwear market size.

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Based on footwear type, the global footwear market can be classified as athletic footwear and non-athletic footwear. Athletic footwear includes aerobics shoes, running shoes, sports (cross training), walking shoes, soccer shoes, tennis shoes, cricket footwear, seasonal boots and others. Non-athletic footwear includes boots, casual, formal and rugged, and waterproof footwear.

Geographically, Asia-Pacific region is the largest market for footwear. Within Asia-Pacific, where China has large-scale manufactures operating in the industry, the emerging countries have number of small level manufactures of footwear. The footwear market in India is growing at a healthy rate attributed to the rising consumer preference towards custom-made or specifically designed footwear, coupled with increasing household income.

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Some of the competitors in global footwear market include Timberland Company, Genesco, Inc., Geox SpA, Wolverine Worldwide Inc., Skechers, USA Inc, Nike Inc., Crocs, Under Armour Inc., Esprit Holdings Limited.

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