Delivered July 24, 2019. Contributor: Alexandra Y.
You are looking for a variety of information and statistics surround the footwear industry and its sub-segments. You will be using this information to create content for a footwear-focused website.
According to a NY Times market report, the footwear industry "industry consists of companies engaged in the manufacturing of footwear such as dress shoes, sneakers, slippers, boots, galoshes, sandals and athletic and trade related footwear. The industry also includes footwear parts such as shoe laces, buckles, clasps, inner soles, heels and padding. The Footwear industry excludes leather stock for shoes, classified in Textiles & Leather Goods".
The global footwear market as a whole was valued at $222.4 billion in 2017 and is expected to grow at a CAGR of 3.1%.
The global luxury footwear market is expected to reach more than $22 billion USD by 2023, growing at a CAGR of 3.6%.
The global sports footwear market is expected to reach $114.8 billion by 2022, growing at a CAGR of 2.1%.
Some trends that began taking shape in the footwear industry in 2018 include sport leisure sneakers, sandals, and companies that use sustainable practices.
40% of millennials say they would pay more for items from sustainable companies, including shoes, and 27% said they made purchases based on a brand's social mission.
Some top footwear brands in the world include Nike, Adidas, Vans, Puma, Sketchers, Bostonian, and Asics.
According to top footwear industry leaders, some challenges that are facing the footwear industry include the tension between the US and China, the social need for sustainable brands, and the changing digital marketplace and its needs for more personal communication.
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