Footwear Market Mainly Driving by Changing Fashion Trends and Rising Purchasing Power of Young People Now a Days

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Albany, NY — 04/26/2018 — In terms of revenue, Europe footwear market was valued at USD 42941.3 million in 2014 and is estimated to be growing at a CAGR of 1.5% from 2015 to 2021 to account for USD 47625.8 million in 2021. In terms of volume, Europe footwear market was valued at 2099.4 million units in 2014, growing at a CAGR of 1.2% from 2015 to 2021 to account for 2281.9 million units in 2021.

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Europe footwear market is estimated to experience several changes as different patterns are expected to evolve in the various footwear categories. The U.K. market for footwear as compared to the other European regional markets is expected to experience high growth rate during the forecast period followed by the Germany and France. Current market trends indicate that the athletic footwear market is in a decline stage across Europe and consumers are progressively favoring non-athletic footwear. Factors such as the rising purchasing power of young people, increasing fashion consciousness towards footwear products and others are presently driving the growth of the footwear market in Europe. The non-athletic footwear segment lead the footwear market in the in the region in 2014 and is expected to continue maintaining its highest revenue share from 2015 to 2021. The superior performance of the products, presence of higher number of working women and the growing middle class these also acts as major drivers for the growth of the non-athletic footwear market in Europe. Moreover, the transforming fashion trends, introduction of new footwear styles (including ethical footwear and recycled footwear), and technological innovations for comfortable footwear are also fuelling the expansion of the footwear market in Europe. Furthermore, factors such as the availability of ethnic shoes with better designs, more online sales and availability of soft and lightweight shoes are also expected to increase the demand for footwear in the region.

The footwear market revenue is generated through the sale of all types of women's, children's, and kid's shoes. Consumers in Europe mostly favor non-athletic footwear considering changes in lifestyle and increase in the number of working people in the region. In terms of revenue, the footwear market is expected to grow at a CAGR of 1.2% during the forecast period, due to the increasing demand for non-athletic footwear products among people. The major drivers for this market are the increasing purchasing power of young people and increasing fashion consciousness about footwear products among consumers. Apart from the aforementioned factors, product innovation and demand for enhanced comfort level are stimulating the footwear market in France and Germany, which in turn are fueling the growth of the footwear market in Europe. Moreover, rising preference for fashionable and durable non-athletic footwear is estimated to continually influence the growth of the footwear market in major countries of Europe such as the U.K., Germany, Italy, Spain, and France over the forecast period. The leading players in the Europe footwear market include Nike, Inc., Puma SE, Adidas AG, and Crocs, Inc. In Europe, footwear mainly distributed through hypermarkets, supermarkets, online sale, sports retailers, and department stores.

Based on gender type, Europe footwear market is segmented into kid's footwear, women footwear and men footwear. Men footwear segment is expected to dominate the footwear market in Europe throughout the forecast period from 2015 to 2021. Transforming fashion and branded offerings are the key factors fueling the growth of the men footwear market in Europe. Moreover, eco-fashion products and adoption of new technological innovations in manufacturing footwear are also driving the men footwear market in Europe.

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The footwear market has been segmented by types of footwear into ?€” athletic footwear and non-athletic footwear. In terms of revenue and volume, the non athletic footwear market is expected to grow at a faster pace during the forecast period. Increasing varieties of products, changing fashion trends and rising purchasing power of young people are the major driving factors for the growth of the footwear market in Europe.

The key players operating in footwear market are Adidas AG, Nike Inc, Puma SE, Deichmann SE and Bata Limited among others.

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Bob Allen

Bob Allen

Bob Allen is The Daily Telescope''s senior editor. He is also a nationally syndicated newspaper columnist and a bestselling author. He lives in Los Angeles and covers the intersection of money, politics and finance. He appears periodically on national television shows and has been published in (among others) The National Post, Politico, The Atlantic, Harper’s, Wired.com, Vice and Salon.com. He also has served as a journalist and consultant on documentaries for NPR and ShowTime. In 2014, he was the winner of the Society of American Business Editors and Writers' investigative journalism award, and the winner of the Izzy Award for Journalism from Ithaca College's Park Center for Independent Media. He was also a finalist for UCLA's Gerald R. Loeb Award and Syracuse University's Mirror Award. Before becoming a journalist in 2006, Sirota worked in Washington for, among others, U.S. Rep. Bernie Sanders, the U.S. House Appropriations Committee Minority Staff and the Center for American Progress.
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