Europe Footwear Market to Reach US$47.6 bn by 2021, Propelled by Introduction of Eco-fashion and Recycled Footwear

2024-11-04 07:30:05 News & Society

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Transparency Market Research has published a new report on the Europe footwear market. As per the report, the Europe footwear market is expected to expand at a 1.50% CAGR during the period between 2015 and 2021. The report, titled ?Footwear Market - Europe Industry Analysis Size Share Growth Trend Forecast 2015 - 2021,? states that the Europe footwear market was valued at US$42.9 bn in 2014 and is predicted to reach US$47.6 bn by 2021 owing to the introduction of eco-fashion footwear, changing lifestyles, and increased online sales.

Footwear includes non-athletic and athletic footwear. Non-athletic footwear includes various kinds of footwear that are worn on casual, formal, fashionable, and traditional outfits. Athletic footwear comprises all types of footwear that are worn for various kinds of sports and physical exercises. At present, the Europe footwear market is the fastest growing market in the global footwear industry. However, the Europe footwear market is predicted to undergo many changes such as the introduction of eco-fashion shoes and new variations in several footwear categories. Currently, even though the preference for non-athletic footwear is higher, the increasing number of people participating in various sports and athletic activities is expected to increase the demand for athletic footwear.

Nowadays, fashion-conscious people are investing in fashionable footwear. Thanks to the easy availability of new products, they are able to fulfill their fashion footwear needs. The Europe footwear market is expected to register exponential growth during the period between 2015 and 2021 due to factors such as the increasing number of employed women, the rising fashion awareness among buyers of all ages, and the introduction of new stylish footwear. The introduction of new ethical and recycled footwear is expected to contribute towards the growth of the Europe footwear market in the years to come. The increasing disposable income, especially of the youth population, and the rising preference of buyers for eco-fashion are expected to further benefit the Europe footwear market in the next few years.

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The Europe footwear market is segmented on the basis of product type, gender, and country. By country, the Europe footwear market is divided into the U.K., Italy, France, Spain, the Netherlands, Germany, and Rest of Europe. Italy is predicted to register the fastest growth in the Europe footwear market in the next few years. The Italy footwear market is expected to be driven by factors such as technological advancements, eco-fashion, and the increasing online sales of various types of footwear. The rapid expansion of footwear shopping centers is further predicted to benefit the Europe footwear market in the next five years.

Adidas AG, Puma SE, Nike, Inc., Bata Ltd., and Deichmann SE are some of the leading players operating in the global Europe footwear market.

Based on gender, the Europe footwear market is classified into kids? footwear, men?s footwear, and women?s footwear. Innovations and the increasing spending capacity for branded footwear are predicted to drive the men?s footwear segment. However, the increasing number of working women is predicted to benefit the women?s footwear market in the next few years.

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