Footwear Market Size, Share and Trend Analysis by Segments, Region, Category Performance and Competitive Landscape to 2027

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Footwear Market Report Overview

The footwear market size was valued at $358 billion in 2023 and the market will grow at a CAGR of more than 3% during 2023-2027. Footwear has historically been challenging to buy online, as it is more fit-critical than clothing and accessories. However, new technologies are now helping improve the digital shopping process and experience for footwear. For instance, Nike Fit can accurately measure its user’s feet using their smartphone camera and AI. Such improvements will propel the market growth during the forecast period.

Footwear Market Outlook 2023-2027 ($ Billion)

Footwear Market Outlook 2023-2027 ($ Billion)

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The footwear market report offers data that showcase the trends in the market and sectors by value and volume. It also reveals the brand leaders by market share in 2023 in each of the categories as well as the entire footwear market. This footwear market research report provides historical and forecast period data for total footwear sales in different categories. This report offers a detailed analysis of the market with the impact of recent events on customer shopping behavior, key brand profiles, and sectors.

Market Size (2023) $358 billion
CAGR (2023-2027) >3%
Forecast Period 2023-2027
Historical Period 2017-2022
Key Regions ·        Europe

·        The Americas

·        Asia-Pacific

·        Middle East and Africa

Key Categories ·        Women’s Footwear

·        Men’s Footwear

·        Children’s Footwear

Key Footwear Brand Profiles ·        Nike

·        Adidas

·        Skechers

·        New Balance

·        Jordan

Key Channels ·        Online

·        Offline

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Footwear Market Dynamics

Technological innovation will allow the online footwear market to outperform out to 2027. The online footwear market grew significantly in 2022 versus 2019. Its growth was then in line with the total footwear market in 2023 as consumers had a greater appreciation for the experience of visiting physical stores after COVID-19. However, it is forecast to begin to outperform again in 2024,  allowing it to reach a penetration of more than 24%. Between 2023 and 2027, the online footwear market is expected to rise owing to the ongoing investments brands are making in this channel. As well as incorporating more technological features like AI and AR into their websites to make it easier for shoppers to select an appropriate size and style, footwear brands are also placing a greater focus on their distribution and fulfilment, making consumers more inclined to make purchases online.

After the COVID-19 pandemic, consumers increased their focus on health and wellbeing, which increased the demand for trainers compared to formal footwear, including high heels and brogues. Since much of the spending lost from the prevalent styles is being focused on more casual and practical options such as trainers, the footwear market will be impacted to a certain extent during the forecast period.

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Footwear Market Segmentation by Categories

The key categories of the footwear market are women’s footwear, men’s footwear, children’s footwear. Women’s footwear dominated the footwear market in 2023.

Footwear Market Analysis by Categories, 2023 (%)

Footwear Market Analysis by Categories, 2023 (%)

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Footwear Market Segmentation by Region

The key regions of the footwear market are the Americas, Europe, Asia-Pacific, and Middle East and Africa. In 2023, Asia-Pacific was the leading regional segment of the footwear market driven by Hong Kong, which had the greatest increase globally due to enhanced tourism and improved consumer confidence.

Footwear Market Analysis by Region, 2023 (%)

Footwear Market Analysis by Region, 2023 (%)

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Footwear Market Analysis by Channel Growth

The key channels in the footwear market are online and offline. Online channel dominated the market growth in 2023. The online market growth was driven by less developed markets such as the Middle East & Africa, Eastern Europe and Latin America and supported by their increasing internet penetrations and growing economies. Such an increase in online channel growth will have a positive impact on the footwear market growth during the forecast period.

Footwear Market Analysis by Channel Growth, 2023 (%)

Footwear Market Analysis by Channel Growth, 2023 (%)

Footwear Market – Brand Profiles

The key brand profiles in the footwear market are:

  • Nike
  • Adidas
  • Skechers
  • New Balance
  • Jordan

Footwear Market Analysis by Brand Profiles, 2023 (%)

Footwear Market Analysis by Brand Profiles, 2023 (%)

In 2023, Nike was the leading footwear brand. Nike continues to remain top of mind among consumers looking for both technical and fashionable footwear. Meanwhile, the brand capitalizes on exclusive and limited-edition collaborations with the likes of Tiffany & Co and Jacquemus to maintain relevance and generate excitement surrounding the brand.

Key Segments Covered in the Footwear Market Report

Footwear Category Outlook (Value, USD Billion, 2017-2027)

  • Men’s Footwear
  • Women’s Footwear
  • Children’s Footwear

Footwear Regional Outlook (Value, USD Billion, 2017-2027)

  • Europe
  • Asia-Pacific
  • The Americas
  • Middle East and Africa


– Digital channels to support future footwear market growth. Athletic shoes, and comfortable & casual styles to gain more popularity. Majority of high growth markets are in the APAC region.

Key Highlights

• Global footwear market to grow at a CAGR of 5.6% between 2023 and 2027, with trainers and Asia Pacific expected to outperform.

• Technological innovation will allow the online footwear market to outperform out to 2027.

• Nike leads the way within the footwear market, while Converse and Vans continue to see their market shares fall.

Reasons to Buy

• Gain a comprehensive view of the global footwear market and forecasts to 2027

• Explore new opportunities that will allow you to align your product offerings and strategies to meet demand

• Investigate current and forecast trends in the footwear categories to identify the areas offering the most potential

• Understand who your main competitors are in the sector

New Balance
Dr Martens
Kurt Geiger
Grace Wales Bonner
Russell & Bromley
Hugo Boss

Table of Contents

Executive Summary

Drivers & Inhibitors

Key Trends in the Global Footwear Market

Global Market Size to 2027

Channel Performance to 2027

Regional Performance to 2027

Market Shares and Brand Profiles



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