Women’s Footwear Market: Current Analysis and Forecast (2021-2027)
Emphasis on Type (Casual shoes, Boots, Heels and Pumps, Sandals, Flipflops and Slippers, Sports Shoes, Safety Shoes); Material (Rubber, Leather, Plastic, Velvet, Textile, Others); Distribution Channel (Offline, Online); Region/Country
The women’s footwear market is expected to register a CAGR of approx. 5% over the period of 2021-2027. Footwear usually refers to clothing worn on the feet to protect against environmental adversity such as terrain and temperature damage. Therefore, this type of shoe mainly helps to facilitate movement and prevent injury. Shoes can also be used for fashion and jewelry. It can also show a person’s status or rank within a social structure. The women’s footwear market is constituted of shoes, sneakers, luxury footwear, athletic footwear, and sporting shoes. These footwear products are made up of different materials for example leather, plastic, rubber, and fabric. The rising demand for women’s footwear is because of the high demand for convenient and comfortable footwear among women. Many companies are focusing on a few essential specifications, for example, creative designs, product advancements, and advanced technical manipulations for driving the women’s footwear market. For example, Nike has recently launched Nike Flyleather which is made from at least 50% recycled natural fiber. Furthermore, the increase in athletic activities, weight in performance, and technological developments that have made shoes extremely popular in sportswear are some factors driving the women’s footwear market.
According to the world bank, in 2021 the global population of women is 3.88 billion. This rapidly growing women population base is an indication of the rise in demand for the footwear market. Further, the growing enthusiasm and awareness regarding the health benefits of sports and fitness activities, the flourishing retail e-commerce sector worldwide, and rising levels of disposable income of consumers are the key factors facilitating the growth of the market.
Nike Inc., Adidas AG, Puma SE, Skechers U.S.A. Inc., Under Armour Inc., Wolverine World Wide Inc., Crocs Inc., ASICS Corporation, Deichmann SE, The ALDO Group Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst Type, the sports shoe category accounted for the majority share in the market in 2020”
Based on type, the market is classified into casual shoes, boots, heels & pumps, sandals, flip-flops & slippers, sports shoes, and safety shoes. Amongst types, the sports shoe category accounted for a significant share of the market. The sporting population has significantly increased in every region. The budding sportswomen require appropriate gears designed for their specific sports and activities which in turn is driving the demand for sports shoes.
“Among Materials, the leather is expected to witness highest CAGR during the forecast period”
Based on material, the market is categorized into rubber, leather, plastic, velvet, textile, and others. Among these, leather is expected to witness the highest CAGR during the forecast period. Consumers who have active occupations or need shoes that provide more comfort and protection prefer leather footwear which significantly helps in growing this segment. The most important advantage of leather material is its durability. Genuine leather shoes last longer than synthetic shoes.
“Among distribution channels, the online stores is expected to witness highest CAGR during the forecast period”
Based on distribution channels, the market is categorized into offline stores and online stores. Among these, online stores are expected to witness the highest CAGR during the forecast period. With the development of various e-commerce companies, major vendors in this industry are choosing to sell through online platforms. This is to ensure a broader customer base by promoting the product at significant discounts and offers.
“North America to witness significant growth during the forecast period”
For a better understanding of the market dynamics of the women’s footwear market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. APAC constitutes a major market for the women’s footwear market industry and generated revenue of USD XX Million in 2020 owing to the strength of consumer expenditure and the huge size of the domestic market in the region.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
Global women’s footwear market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Global Women’s Footwear Market Analysis (2021-2027)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global women’s footwear market were the three major steps undertaken to create and analyze the adoption of women’s footwear in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global women’s footwear market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Seek More Details About Research Methodology
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the women’s footwear market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the women’s footwear market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as type, material, and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the women’s footwear market. Further, we conducted factor analysis using dependent and independent variables such as various type, material, and distribution channel of women’s footwear. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the women’s footwear market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global women’s footwear market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the women’s footwear market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global women’s footwear market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global women’s footwear market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, material, and distribution channel in the global women’s footwear market.
The main objective of the Global Women’s footwear Market Study
The current & future market trends of global women’s footwear market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of women’s footwear market in terms of Value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of instrument type, instrument portability, and end-users
- Define and analysis of the regulatory framework for the women’s footwear market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the women’s footwear market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
- Company profiles of the women’s footwear market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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