The Footwear Market is Getting Bigger and Bigger
The North America Footwear market was valued at USD 80,594.4 million in 2014 and is estimated to reach USD 89,717.7 million by 2021
North America footwear market is expected to undergo several changes such as innovations and new style in different footwear categories. By type, the footwear market is segmented into athletic footwear and non-athletic footwear. Athletic footwear market is further sub categorized into Insert Shoe, Sports (Cross Training), Hiking Shoes and Backpacking Boots.
Non-athletic footwear market is further sub categorized into Dress/Formal, Casual Footwear and Fashion Footwear. North America footwear market is expected to witness significant growth due to factors such as growing number of athletes and the urge to stay active and fit. Furthermore, growing fashion consciousness among consumers is also fuelling the demand of footwear market in North America.
In North America, The U.S. held the largest market share in terms of revenue in 2014 and is expected to continue its dominance throughout the forecast period. The U.S footwear market is followed by Canada in terms of revenue and the trend is expected to remain the same throughout the forecast period.
The North America Footwear market was valued at USD 80,594.4 million in 2014 and is estimated to reach USD 89,717.7 million by 2021, growing at a CAGR of 1.5% from 2015 to 2021.
The market for non-athletic footwear is comparatively higher as compared to the athletic footwear. Consumers prefer non-athletic footwear as a result of change fashion trends and rise in number of working women. Whereas consumers prefer athletic footwear due to changes in lifestyle and introduction of new footwear styles and growing concern towards health. The non-athletic footwear market segment is expected to dominate the footwear market throughout the forecast period.