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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