The Latest Global Footwear Industry Statistics Explained
As of 2020, the global footwear market was valued at approximately 365.5 billion U.S. dollars.
The statistic that the global footwear market was valued at approximately 365.5 billion U.S. dollars as of 2020 indicates the total economic worth of all footwear products sold worldwide during that year. This figure reflects the significant size and importance of the footwear industry on a global scale, highlighting the substantial demand for shoes across various regions and consumer segments. The value of the footwear market serves as a key indicator of consumer preferences, fashion trends, and economic activity, providing insights into the overall health and growth potential of the industry. This statistic is crucial for businesses operating in the footwear sector, policymakers, and investors to make informed decisions and plan strategies based on the market’s current valuation and future growth prospects.
The global footwear market is expected to reach $530.3 billion by 2027.
The statistic indicates that the global footwear market is projected to have a total worth of $530.3 billion by the year 2027. This estimate suggests significant growth potential for the footwear industry over the coming years. Factors such as increasing disposable income, evolving fashion trends, and rising awareness about health and fitness are likely to drive this market expansion. This statistic serves as a key insight for industry stakeholders, policymakers, and investors who are interested in the footwear sector, highlighting the lucrative opportunities available within this market segment.
Asia Pacific region accounted for the maximum revenue in the global footwear market in 2019.
The statistic indicates that the total revenue generated by the footwear market in the Asia Pacific region was the highest among all global regions in 2019. This suggests that the demand for footwear products was particularly strong in countries within the Asia Pacific region, leading to higher sales and revenue compared to other regions around the world. Factors such as population size, economic growth, changing consumer preferences, and increasing urbanization in Asia Pacific countries likely contributed to this trend. Additionally, this statistic highlights the importance of the Asia Pacific region as a key market player in the global footwear industry.
The athletic footwear segment accounted for over $115.6 billion in 2017.
The statistic “The athletic footwear segment accounted for over $115.6 billion in 2017” represents the total market value of the athletic footwear industry for the year 2017. It indicates the substantial size and significance of the athletic footwear market, with over $115.6 billion worth of athletic shoes sold globally in that particular year. This statistic suggests the strong demand for athletic footwear products worldwide, driven by factors such as increasing health awareness, changing fashion trends favoring athleisure wear, and the popularity of sports and fitness activities. The considerable market value demonstrates the economic importance of the athletic footwear industry and its significant contribution to the global retail sector.
According to data from 2016, China was the leading manufacturer of footwear globally, producing approximately 65% of the total global production.
The statistic indicates that China held a dominant position in the global footwear manufacturing industry in 2016, accounting for around 65% of the total global production. This means that nearly two-thirds of all the footwear manufactured worldwide during that time was produced in China. The data reflects China’s significant role in the global market for footwear, highlighting the country’s strong manufacturing capabilities and competitive edge in the industry. The statistic suggests that China was a key player in meeting the global demand for footwear in 2016, showcasing its influence and dominance in the manufacturing sector.
India is the 8th largest exporter of footwear, contributing 2% to the total global foot export.
This statistic indicates that India ranks as the 8th largest exporter of footwear in the world and accounts for approximately 2% of the total global footwear exports. This suggests that India plays a significant role in the global footwear market, with a notable share of exports attributed to the country’s footwear industry. The ranking highlights India’s competitiveness and presence in the international footwear trade, demonstrating its ability to manufacture and supply footwear products to markets around the world. This statistic showcases India’s position as a key player in the global footwear export landscape and underscores the importance of its contribution to the industry on a global scale.
Leather footwear constitutes around 50% of global footwear production.
The statistic stating that leather footwear makes up around 50% of global footwear production indicates the significant market share that leather shoes hold in the footwear industry worldwide. This figure suggests that leather remains a popular choice among consumers, likely due to its perceived quality, durability, and traditional appeal. The demand for leather footwear is substantial enough to make it a dominant category within the larger footwear market, emphasizing its importance as a key component of the global industry’s output. This statistic also implies the economic significance of leather footwear production on a global scale, impacting various stakeholders such as manufacturers, retailers, and consumers.
More than 24 billion pairs of shoes are produced globally each year.
The statistic that more than 24 billion pairs of shoes are produced globally each year highlights the significant scale of the footwear industry and the widespread demand for shoes worldwide. This statistic underscores the importance of the footwear sector as a major player in the global economy, reflecting the diverse needs and preferences of consumers across different countries and cultures. The sheer volume of shoe production also signals the complexity of supply chains and manufacturing processes involved in meeting this level of demand, as well as the environmental impact of such mass production. This statistic serves as a reminder of the immense global market for footwear and the role it plays in driving economic growth and consumer behavior.
U.S consumers were the biggest purchasers of footwear globally in 2017, with around $79 billion spent on footwear.
The statistic indicates that U.S consumers significantly outspent consumers in other countries on footwear in 2017, with approximately $79 billion allocated towards purchasing shoes. This implies a strong demand for footwear within the United States, likely driven by factors such as a large population, diverse fashion trends, a high level of disposable income, and a culture that values shoes as a statement of personal style. The substantial spending on footwear reflects the importance of shoes not only as a functional necessity but also as a significant aspect of consumer culture and individual identity within the U.S market.
Non-athletic footwear constitutes 62% of the global footwear market.
The statistic that non-athletic footwear constitutes 62% of the global footwear market indicates that the majority of footwear consumed worldwide falls under the category of non-athletic footwear, which includes shoes such as casual, dress, and formal styles. This percentage suggests that non-athletic footwear is the dominant segment within the footwear industry, surpassing athletic footwear in terms of market share. The data highlights the preferences and consumption patterns of consumers globally, showing a higher demand for non-athletic footwear compared to athletic options. This statistic could be valuable for industry stakeholders, manufacturers, retailers, and marketers in understanding market trends and making informed decisions related to product development, marketing strategies, and inventory management within the footwear market.
The global women’s footwear market is expected to reach $175.2 billion by 2025.
This statistic indicates the projected total value of the global women’s footwear market by the year 2025, estimated to reach $175.2 billion. This forecast reflects the anticipated growth and expansion of the women’s footwear industry worldwide, driven by various factors such as evolving fashion trends, increasing disposable income, and shifting consumer preferences. The rising demand for women’s shoes across different regions is expected to contribute to the substantial market size, reflecting the significant economic impact and market opportunities within the women’s footwear sector.
China is also the largest exporter of footwear, with a market share of 68.6% in 2018.
The statistic indicates that China accounted for the majority of global footwear exports in 2018, holding a significant market share of 68.6%. This suggests that China is a dominant player in the global footwear industry, surpassing all other countries in terms of the volume of footwear exported. The statistic highlights China’s competitive advantage in footwear manufacturing and its ability to meet the demands of international markets. The high market share underscores China’s significant role in driving the global footwear trade and its influence on the industry as a whole.
Vietnam holds the 2nd position in global footwear exports, with a market share of 7.4% in 2018.
The statistic indicates that Vietnam ranked second in the world in terms of exporting footwear in 2018 with a market share of 7.4%. This implies that Vietnam is a significant player in the global footwear industry, following closely behind the leading exporter in the market. By capturing a considerable share of the market, Vietnam’s footwear industry demonstrates its competitiveness and ability to produce and export footwear products on a large scale. The statistic highlights Vietnam’s strong presence and success in the global footwear market, showcasing its role as a key player in the industry.
Online sales channel for the footwear market is projected to witness over an 8% CAGR from 2020 to 2026.
This statistic suggests that the online sales channel for the footwear market is expected to experience significant growth with a Compound Annual Growth Rate (CAGR) of over 8% from the year 2020 to the year 2026. This projection indicates a positive trend towards consumers increasingly purchasing footwear products online over the specified period. The forecasted CAGR provides insight into the expected annual growth rate of online sales in the footwear market, indicating a steady increase in online retail activity within this sector. This growth may be driven by factors such as convenience, broader product availability, and changing consumer preferences towards e-commerce platforms when shopping for footwear products.
The men’s footwear market size was valued at $82 billion in 2019.
The statistic, “The men’s footwear market size was valued at $82 billion in 2019,” indicates the total value of sales within the men’s footwear industry for that year. This figure represents the sum of all revenues generated from the sale of men’s shoes, boots, and other types of footwear. The size of the market is a key indicator of the economic significance and consumer demand for men’s footwear products. The $82 billion value highlights the substantial scale of the market and suggests that it is a lucrative and competitive sector within the fashion and retail industry. Tracking market size over time can provide insights into trends, consumer behavior, and the overall health of the men’s footwear market.
The children’s footwear market is projected to grow at a CAGR of 8.14% by 2025.
This statistic indicates that the children’s footwear market is expected to experience a Compound Annual Growth Rate (CAGR) of 8.14% by the year 2025. This means that over the period between now and 2025, the market for children’s footwear is predicted to grow at an annual average rate of 8.14%. This growth rate suggests increasing demand for children’s footwear products, potentially driven by factors such as rising population of children, changing fashion trends, and increasing disposable income of families. Businesses operating in this market can use this projection to anticipate future growth opportunities and make informed decisions regarding production, marketing, and investment strategies.
In 2019, the US market imported US$25.6 billion pairs of shoes.
The statistic “In 2019, the US market imported US$25.6 billion pairs of shoes” indicates the significant volume of shoes that were brought into the United States from international sources in that year. The figure of US$25.6 billion represents the total value of these shoe imports, reflecting the growing demand for footwear in the US market. Notably, the use of pairs of shoes as a unit of measure highlights the individual nature of the products being imported, giving a sense of the scale and diversity of styles and sizes that make up this substantial import market. This statistic provides valuable insight into consumer behavior, trade dynamics, and the global supply chain in the footwear industry.
As of 2018, the global athletic footwear market was valued at nearly $98 billion.
The statistic stating that the global athletic footwear market was valued at nearly $98 billion as of 2018 reflects the substantial size and economic significance of the industry. It indicates the total monetary value of athletic footwear sales worldwide during that year, encompassing a wide range of brands, styles, and distribution channels. This figure is not only a reflection of consumer demand for athletic shoes but also speaks to the industry’s growth and competitive landscape. Moreover, it highlights the global reach and impact of the athletic footwear market, emphasizing its role in driving economic activity and serving as a key sector within the larger sportswear industry.
Sneakers made up 62% of all men’s shoe sales in 2020.
The statistic ‘Sneakers made up 62% of all men’s shoe sales in 2020’ indicates that out of all the men’s shoes sold in 2020, 62% of them were sneakers. This means that sneakers were the dominant shoe style choice among men that year, significantly outnumbering other types of shoes such as dress shoes, boots, or sandals. The high percentage suggests that sneakers have a strong consumer demand and popularity among men, possibly driven by factors such as comfort, style trends, lifestyle preferences, or marketing strategies by shoe companies. This statistic provides valuable insights into consumer behavior and preferences within the men’s footwear market for the year 2020.
References
0. – https://www.www.globenewswire.com
1. – https://www.www.worldfootwear.com
2. – https://www.www.alliedmarketresearch.com
3. – https://www.www.gminsights.com
4. – https://www.www.adroitmarketresearch.com
5. – https://www.www.indiaretailing.com
6. – https://www.www.statista.com
7. – https://www.www.transparencymarketresearch.com
8. – https://www.www.prnewswire.com
9. – https://www.www.leatherpanel.org
10. – https://www.www.technavio.com
