North America Footwear Market, By Type (Loafers, Shoes, Sandal/Flip-Flops, Ballerinas, Boots, Wedges, Athletics, Healthcare Shoes, and Others), Shoe Material (Plastic, Leather, Rubber, Textile and Others), Soling Material (Plastics, Rubber, Leather, and Others), Distribution Channel (E-Commerce, Specialty-Store, Supermarkets-Hypermarkets, Convenience Store, and Others), End-User (Women, Men, and Children) – Industry Trends and Forecast to 2031.
North America Footwear Market Analysis and Size
The global footwear market is a dynamic and rapidly evolving sector driven by changing fashion trends, rising disposable incomes, and increasing health consciousness among consumers. The market is characterized by a wide range of products catering to diverse consumer needs, including athletic, casual, and formal footwear. The key factors influencing the market include growing urbanization, changing lifestyles, and the influence of social media on consumer choices. Technological advancements, such as the use of sustainable materials and innovative manufacturing techniques, are also shaping the market landscape.
North America footwear market size was valued at USD 60.92 billion in 2023 and is projected to reach USD 93.49 billion by 2031, with a CAGR of 5.50% during the forecast period of 2024 to 2031. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2024-2031
|
|
Base Year
|
2023
|
|
Historic Years
|
2022 (Customizable to 2016 - 2021)
|
|
Quantitative Units
|
Revenue in USD Billion, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Type (Loafers, Shoes, Sandal/Flip-Flops, Ballerinas, Boots, Wedges, Athletics, Healthcare Shoes, and Others), Shoe Material (Plastic, Leather, Rubber, Textile, and Others), Soling Material (Plastics, Rubber, Leather, and Others), Distribution Channel (E-Commerce, Specialty-Store, Supermarkets-Hypermarkets, Convenience Store, and Others), End-User (Women, Men, and Children)
|
|
Countries Covered
|
U.S., Canada, and Mexico
|
|
Market Players Covered
|
Crocs Retail, LLC (U.S.), Adidas (Germany), SKECHERS USA, Inc. (U.S.), Nike, Inc. (U.S.), Okabashi. (U.S.), BATA BRAND (Switzerland), GEOX s.p.a (Italy), PUMA (Germany), Under Armour, Inc. (U.S.), Wolverine World Wide, Inc. (U.S.), ASICS Corporation. (Japan), THE ALDO GROUP INC. (Canada), Relaxo Footwears Limited. (India), KERING (France), VF Corporation (U.S.), Deichmann SE (Germany), FILA Holdings Corp. (South Korea), New Balance (U.S.), ECCO Sko A/S (Denmark), and Burberry (U.K.)
|
|
Market Opportunities
|
|
Market Definition
Footwear refers to garments or items worn on the feet, typically for protection or adornment. They can include shoes, sandals, boots, and any other type of footwear designed for various purposes, such as fashion, sports, or occupational requirements. Footwear is crafted from diverse materials, including leather, rubber, and synthetic fabrics, and is designed with features like cushioning, arch support, and grip to enhance comfort and performance.
Footwear Market Dynamics
Drivers
- Growing Fashion Trends
The constant evolution of styles and the need for self-expression through fashion drive consumers to seek new and stylish footwear options. Brands that can quickly adapt to these trends and offer a wide range of fashionable designs are expected to succeed in this dynamic market. Changing fashion preferences are a significant driver of the footwear market, particularly among the younger demographic influenced by celebrities and social media.
- Rising Athleisure Trend
The athleisure trend has reshaped the footwear market, blurring the lines between athletic and casual wear. This trend has been fueled by the increasing emphasis on health and wellness, leading consumers to seek comfortable yet stylish footwear options that can transition seamlessly from the gym to everyday wear. Footwear brands that can cater to this demand with innovative designs and materials are well-positioned to capitalize on this growing trend.
Opportunities
- Increasing Disposable Income
The growth of disposable income in the North America region is expected to drive higher spending on premium and branded footwear products. To leverage this trend, companies can expand their market presence, tailor their product offerings to local preferences, and employ targeted marketing strategies to attract the expanding consumer base. The increasing purchasing power in emerging markets presents a substantial opportunity for footwear companies.
- Innovations in Materials and Technology
Advancements in materials and technology led to the development of sustainable and eco-friendly options, and customization capabilities through 3D printing and other technologies. These innovations not only meet consumer preferences for eco-friendly products but also provide distinctive and customized footwear choices. Companies that can leverage these advancements to create innovative and high-quality products are likely to differentiate themselves in the market and attract discerning consumers, creating new market opportunities.
Restraints/Challenges
- Fluctuating Raw Material Prices
Raw material prices, such as leather and rubber, are subject to volatility due to various factors such as supply chain disruptions and geopolitical issues. These fluctuations can impact the production costs and profit margins of footwear manufacturers. To mitigate this risk, companies can explore alternative materials, invest in strategic partnerships with suppliers, and implement efficient inventory management practices.
- Counterfeit Products
The presence of counterfeit footwear products not only undermines the sales of authentic brands but also impacts consumer trust and brand reputation. To combat this issue, footwear companies can invest in anti-counterfeiting technologies, educate consumers about the risks of purchasing counterfeit goods, and collaborate with law enforcement agencies to crack down on counterfeiters.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In March 2024, Nike launched the Air Max Dn, a shoe engineered to enhance the heel-to-toe transition for wearers. This innovative addition to Nike's classic footwear collection is the first to feature Dynamic Air technology, which provides a seamless and smooth sensation with every step
- In December 2022, Asics launched the GEL-RESOLUTION 9, a high-tech tennis shoe designed to support dynamic footwork along the baseline. These shoes offer exceptional kinetic stability for lateral movements in fast-paced tennis matches. The advanced design enhances performance, appealing to tennis enthusiasts seeking a competitive edge and expanding the market for specialized athletic footwear tailored to the needs of professional players
Footwear Market Scope
The market is segmented on the basis of type, shoe material, soling material, distribution channel, and end user. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Loafer
- Shoes
- Sandals/flip-flops
- Ballerinas
- Boots
- Wedges
- Athletic
- Healthcare shoes
- Others
Shoe Material
- Plastic
- Rubber
- Leather
- Textile
- Others
Soling Material
- Plastic
- Rubber
- Leather
- Others
Distribution Channel
- E-commerce
- Specialty stores
- Supermarkets/hypermarkets
- Convenience stores
- Others
End User
- Women
- Men
- Children
Footwear Market Regional Analysis/Insights
The market is analyzed and market size insights and trends are provided by country, type, shoe material, soling material, distribution channel, and end user as referenced above.
The countries covered in the market report are U.S., Canada, and Mexico.
The U.S. is expected to dominate due to the growth of the footwear industry in the country. Sandals and flip-flops are identified as the most popular types of footwear in this market.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Footwear Market Share Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major players operating in the market are:
- Crocs Retail, LLC (U.S.)
- Adidas (Germany)
- SKECHERS USA, Inc. (U.S.)
- Nike, Inc. (U.S.)
- Okabashi. (U.S.)
- BATA BRAND (Switzerland)
- GEOX s.p.a (Italy)
- PUMA (Germany)
- Under Armour, Inc. (U.S.)
- Wolverine World Wide, Inc. (U.S.)
- ASICS Corporation. (Japan)
- THE ALDO GROUP INC. (Canada)
- Relaxo Footwears Limited. (India)
- KERING (France)
- VF Corporation (U.S.)
- Deichmann SE (Germany)
- FILA Holdings Corp. (South Korea)
- New Balance (U.S.)
- ECCO Sko A/S (Denmark)
- Burberry (U.K.)
SKU-