China’s Footwear Sales to Reach USD 79.9 Bn by 2020, Expects SRI in Its New Research Study Available at MarketPublishers.com28 Mar 2017 • by Natalie Aster
LONDON – The footwear industry is recognised as one of the most fast-evolving industries worldwide. Escalating demand for novel innovative footwear and emergence of both global and regional brands in the footwear sector are the major drivers of the market growth. Leading players introduce new trendy and innovative footwear items due to ongoing technological innovations, advances in manufacturing processes and introduction of new materials.
North Asia ranks the top producer of footwear worldwide. The region captures a share of nearly 70% of the overall production volume.
The value of the world’s footwear market stood at nearly USD 208 billion in the year 2014. It is anticipated to register remarkable growth through 2023 to reach USD 258 billion.
China holds the position of the top footwear manufacturer, consumer and exporter globally. The country’s demand for footwear is propelled by increasing disposable income, enhancing health consciousness, uptake of e-commerce and also rising westernization. China’s footwear sales stood at around USD 58.8 billion in the year 2015, and are forecast to increase at a 6.3% CAGR during 2017-2020 to reach USD 79.9 billion.
New report “Studying China's Footwear Market 2017” prepared by Smart Research Insights (SRI) sheds light on the current situation in the Chinese footwear market as well as touches upon the major country’s industry performance aspects.
This research study examines dynamics of the Chinese as well as global footwear markets, identifies emerging opportunities and future possible trends, points out key challenges and covers initiatives and performance of the top market players. The report uncovers important industry performance estimates and also discloses updated statistics. Additionally, this study comprises future forecasts.
Many other in-demand research reports by the publisher are available at the Smart Research Insights page.