It is expected that by 2025 the worth of Footwear Market will be worth US$278860.7 million. The projection is done since the CAGR’s rising revenue by 3.0% within 2017-2025. The Global Footwear Market is flowing with the help of 2 prominent trends. First, unexpected high demands of designer shoes and second the thriving demands of sports shoes for its fitness.
The market of footwear is ready to taste the substantial growth owing to the spending pattern and changing lifestyle in the future. Nowadays people are tended towards both comfort and modern design while choosing footwear. It is because of increasing people's disposable income in the world. There are many other factors which have influenced the growth of the Global footwear Market. Some of them are given below:
Nowadays, footwear manufacturers are introducing and recognizing the footwear as a Style Statement. This helps in boosting the Global Footwear Market. Moreover, as the people are hunting for trendy as well as comfortable shoes it realizes the development remarkably. The demand for this shoe is prevalent for the people, of varied ages- teenagers, kids, and adults as well.
There is another noteworthy trend in the recent Global Footwear Market and i.e., the increased rate of people's participation in varied sports activities. Along with the changing lifestyle, the consciousness of health is increasing day-by-day. It also creates a great impact on the Global Footwear Market as people start choosing wisely not only by its look and style. To sustain the growth of the Global Footwear Market, manufacturers are focusing on the product portfolio in the hypercompetitive market.