Footwear Market Segmentation:
Type Segment Analysis
Athletic segment in the footwear market is expected to garner a market share of around 56% by 2035. People who engage in outdoor activities including walking, jogging, working out at the gym, and playing sports like hockey, cricket, basketball, volleyball, and golf wear athletic shoes. Athletic shoes provide consumers with features including torsional stability, enhanced cushioning, and improved protection in addition to comfort, flexibility, and traction on outdoor surfaces like roads and trails.
The athletic category is growing because professional players are demanding lightweight, comfortable, and stylish shoes for use on rough, rainy, and wet ground. The primary element propelling the growth of athletic shoes worldwide is the rising participation and inclination of individuals toward regular physical activities like cycling, jogging, and working out. In addition, in 2024 the average volume of each person is expected to be 0.06pairs for the athletic footwear segment.
End-User Segment Analysis
Men's segment is set to capture over 55% footwear market share by 2035. The demand for men's footwear has been driven by men's propensity for outdoor activities. Male participation in sports including hockey, golf, cricket, and mountaineering has traditionally been high. Therefore, type launches that target particular sports categories will contribute to the expansion of the men's footwear industry. A future increase in the men's footwear market is anticipated due to the rise of upscale e-commerce websites.
Distribution Channel Segment Analysis
The offline segment is poised to garner majority footwear market share. The offline channel makes it easy for customers to access a wide variety of product portfolios from multiple market sectors. It's a well-run store with a wide assortment of winter footwear and a presence in both the US and other countries. Customers can get access to niche products accessible on the market through these kinds of retailers. Consequently, the growth of offline channels in multiple areas generates lucrative opportunities for the market to expand. The manufacturers' exclusive discounts made available through these channels significantly increase footwear sales. These discounts also incentivize hypermarkets and supermarket chains to sell their products, thereby generating a variety of footwear market opportunities worldwide. According to estimates, approximately 64.6 % of the products sold in the online footwear sector worldwide were bought through an Offline Sales Channel in 2022.
Our in-depth analysis of the footwear market includes the following segments:
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