Delivered January 21, 2020. Contributor: Caitlin T.
Provide an industry overview of the shoes/footwear market.
The global footwear market was valued at $207 billion as of 2018. This market is projected to grow at a CAGR of 3.8% through 2025.
Growth in this market globally is largely attributed to "high demand for convenient and comfortable footwear." Growth is also driven by the e-commerce market, which is expanding rapidly.
The United States accounts for roughly $40 billion of this market, and athletic shoes account for roughly one-third of the US footwear market.
The Asia-Pacific region is expected to the largest and the fastest growing market for footwear in the world through 2025.
Athletic footwear is projected to be the fastest growing segment in terms of type of shoe, with a CAGR of 4.4% through 2025. Non-athletic shoes, on the other hand, will account for the largest market share through 2025.
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