According to the market report published by Future Market Insights titled ‘Women’s Footwear Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2027,’ the revenue generated from women’s footwear is estimated to be valued at over US$ 152118.8 Mn in 2018, which is projected to increase at a CAGR of 4.2% during the forecast period (2018-2027).
In the global women’s footwear market, companies across the globe are focusing on research & development as well as the launching of new product variants, which is a key factor driving the demand for women’s footwear across the globe. Companies operating in the women’s footwear market are constantly making significant investments in research and development activities to cater to the evolving needs of customers seeking authentic and specialized products. Women’s footwear has standard features such as style, comfort, basic functionality, and durability. Moreover, companies are also launching women’s footwear with added benefits such as soft sensors. Soft sensor network circuits or flexible sensors are embedded into the insole or the upper sole to measure data, which is then programmed and sent to an external device such as a watch or a smartphone. This technology is effective in monitoring injuries and even greater complications such as diabetes and others, owing to which the women’s footwear market is expected to witness significant growth.
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In the women’s footwear market, manufacturers have also adopted some key differentiating strategies. Brands operating in the women’s footwear market are targeting mass consumers. They are also offering women’s footwear with advanced features at competitive prices. The manufacturers of women’s footwear are also seeking product innovations due to increasing consumer awareness with respect to different brands in the women’s footwear marketplace and maintaining a proper value chain to enable reaching the proper target audience to reduce the cost of the final product. Manufacturers are focused on developing high-value footwear for women due to the rising consumer demand for more value-added products. Furthermore, the rising diversity of premium products on retail shelves is also expected to contribute to the increasing value share of women’s footwear in the near future.
Increasing focus on sportswear is one the major drivers of the women’s footwear market owing to the rising demand for comfortable footwear and growth in the number of sports activities. Due to advancements in technology, different international brands are merging sportswear with fashion wear. Increasing concern about health and fitness is encouraging female consumers to indulge in more sports activities, which has boosted the demand for women’s footwear.
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The global women’s footwear market is segmented on the basis of regions, which include North America, Latin America, Asia Pacific Excluding Japan (APEJ), Western Europe, Eastern Europe, Middle East & Africa, and Japan. Among all the regions, North America and the Asia Pacific excluding Japan regions are estimated to have a substantial value share. In terms of growth, APEJ is expected to witness a robust growth of 5.7% during the forecast period. The APEJ region is expected to gain an incremental dollar opportunity of US$ 25731.2 million during the forecast period.
Key Players in the Women’s Footwear Market
Detailed profiles of companies are also included in the global women’s footwear market report to evaluate their strategies, key product offerings and recent developments. Some of the key players profiled in the global women’s footwear market study include Adidas AG; NIKE, Inc.; PUMA SE; Skechers U.S.A., Inc.; Wolverine World Wide, Inc.; Under Armour, Inc.; Crocs, Inc.; ASICS Corporation; Deichmann SE; The ALDO Group Inc.; VF Corporation; Index SA.; New Balance Athletic Shoe, Inc.; Columbia Sportswear Company; Michael Kors Holdings Limited; Kathmandu Holdings Limited; Jack Wolfskin GmbH & Co.; W. L. Gore & Associates, Inc.; Polartec, LLC. and Sympatex Technologies GmbH.
On the basis of product type, the global women’s footwear market is segmented into casual shoes, boots, heels & pumps, sandals, flip flops & slippers, sports shoes, and safety shoes. The global women’s footwear market is further segmented on the basis of material. The material segment includes rubber, leather, plastic, velvet, textiles, and others. The global women’s footwear market is also segmented by distribution channel, which includes hypermarkets/supermarkets, specialty stores, independent retailers, multi-brand stores, company websites, and 3rd party online sales.