Global Footwear Market to Cross USD 258 Bn Mark by 2023, Predicts SRI in Its Novel Research Report Published at MarketPublishers.com17 Mar 2017 • by Natalie Aster
LONDON – The footwear industry is amid the most rapidly increasing industries worldwide. Market growth is encouraged primarily by such driving factors as surging demand for new and innovative footwear, emergence of novel global and regional brands in the marketplace, advancements in manufacturing processes, introduction on new materials and various technological innovations.
As of 2014, the world’s footwear market stood at about USD 208 billion. By 2023, the global market for footwear is predicted to be worth USD 258 billion.
Globally, North Asia is currently an absolute leader in terms of footwear production volumes. Today, the region captures the mammoth share (70%) of the total world production.
On a country scale, India is the second largest producer of footwear after China. Annually, India produces 22 billion pairs, which is equal to approximately 9% of the world’s annual production.
New research report “Studying the Global & India's Footwear Market 2017” prepared by Smart Research Insights (SRI) provides a clear picture of the footwear industry scenario in India and on a global scale. It shades light on the market dynamics, examines growth limiters and drivers, investigates the top growth opportunities of the global and Indian footwear market. The competitive scenario and leading players’ incentives and performance are also discussed here. Additionally, future outlooks for the global and Indian footwear markets is available in the report.
Other new market research studies prepared by Smart Research Insights can be found at the company’s page.