Asia Pacific Dominated The Global Footwear Market In 2017 And Expected To Display Similar Trend In The Coming Years
By Amey Godbole In terms of value, the global footwear market stood at US$ 222.4 Bn in 2017 and expected to reach 292.7 by 2026, expanding at a CAGR of 3.1% during the forecast period from 2018 to 2026. Asia Pacific dominated the footwear market in 2017 and expected to remain dominant throughout the forecast period. The region expected to witness the fastest growth during the forecast period. Market Insights Increasing demand for sports shoes and designer shoes are responsible for the major growth of the footwear market. Purchase of footwear has doubled over the past few decades and introduction of different designs and styles has helped in the retention of the customers and grabbed attention of the new customers as well. Rising demand for sports shoes among the health conscious consumers is one of the major factor driving the market growth of footwear. Busy work schedules and sedentary lifestyles results to chronic health problems such as diabetes, obesity among others...