Footwear Market Size

Footwear Market size was valued at USD 402 Billion in 2023 and is poised to reach USD 721 Billion by the end of 2036, registering around 5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of footwear is assessed at USD 422 Billion.

The primary drivers of the market's expansion are the expanding demand for athletic footwear, growing sales made possible by e-commerce, and footwear firms' large advertising budgets. In addition, a growing number of people are being motivated to participate in sports and fitness activities due to the increased prevalence of lifestyle-related health problems including stress and obesity. According to WHO; approximately 890 million persons aged 18 and over were obese, out of the 2.5 billion overweight adults in 2022. This translates to 43% of persons over the age of 18 who were overweight (43% of men and 44% of women); this is an increase from 25% of adults over the age of 18 in 1990.

This is driving up demand for fashionable yet comfortable footwear. Long before 2020, comfort rose at the top of the consumer priority list. Fashion footwear has been losing market share to more athleisure- and comfort-focused categories for years.

Frequently Asked Questions (FAQ)

In the year 2023, the industry size of footwear was over USD 402 billion.

The market size for footwear is projected to cross USD 721 billion by the end of 2036 expanding at a CAGR of 5 % during the forecast period i.e., between 2024-2036.

The major players in the market are Adidas AG, Puma SE, Geox S.p.a, Timberland, SKECHERS USA, Inc., ECCO Sko A/S, Crocs Retail, LLC, Under Armour, Inc., Wolverine World Wide, Inc., ASICS Corporation and others.

The men segment is anticipated to garner a share of 55% during 2024-2036.

The Asia Pacific footwear sector is poised to hold 40% share by the end of 2036.

Footwear Market Size