Poised for moderate growth in the global revenue, women’s footwear sales are projected to remain steady over the next few years. Although slated for a steady year on year revenue growth of just-under 4% in 2019, the global women’s footwear market is projected for the revenue of over US$ 155 billion by the end of 2019.
With evolving lifestyle and constant product innovations in the footwear categories, it is more likely that women’s footwear manufacturers will discover high potential growth opportunities over coming years.
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The women’s footwear market analysis on the basis of the type of base material reveals that rubber owing to high endurance and versatility remains a highly preferred material for women’s footwear over other material types such as leather, velvet, plastic, and textiles. Plastic is positioned as the second most favored base material for women’s footwear.
Key Insights Drawn from Global Women’s Footwear Market Report
- The future belongs to fast lifestyle retailers adapting to online structure
- Sustainable value chain including online operators will be the best asset for manufacturers
- Eco-friendly material alternatives are emerging rapidly, though currently confined to a premium market segment
- Sports shoes and casual shoes account for more than 50% share in the total market value
- Startups stepping in comfortable sneakers and athletic shoes will attract remarkable funds from venture investors
- Customization is trending women’s footwear landscape
- Designer sneakers are stepping in the market, confidently
- Industry behemoths are teaming up with startup technology innovators for novel product development
- Therapeutic women’s footwear hold a promising outlook
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North America’s Women’s Footwear Sales to Cross US$ 50 Bn Next Year
According to a newly published market intelligence by Future Market Insights, North America remains the largest regional shareholder in the global revenue of women’s footwear landscape, and will possibly exceed the valuation of US$ 50 billion in 2019. Asia Pacific and Western Europe are the next key markets for manufacturers and distributors of women’s footwear, according to the study.
Developed regional markets are estimated for sluggish growth in sales in coming years, whereas emerging economies continue to experience steadily growing sales owing to rapidly evolving consumer demographics and elevating spending power.
Women’s Footwear Fashion Is Becoming Sporty and Casual
With lifestyle gaining a ‘healthier’ tag and regular dress codes becoming relaxed and casual, it is most likely that sporty, comfortable, and casual women’s footwear will maintain the top selling position in market.
A senior research analyst expert in the consumer retail segment explains, “Casual and sports shoes are gaining ground in recent years, according to the report. The sales of women’s footwear in the sports shoes category currently account for around 30% share of the total market value. Adhering to the consumer priority to comfort, sports shoes and casual shoes remain the top selling categories in women’s footwear. Around 30% share of the total market value belongs to sports shoes, closely followed by casual shoes. Moreover, heels & pumps, and boots will continue to account for a considerably high revenue share in the market in 2019 and ahead”.
Revenue growth of athletic footwear reflect continued dominance of sports shoes in women’s footwear marketplace, whereas significantly growing sales of sneakers denote exceptional sales potential of the casual shoes category. Conversely, research indicates passive growth in the high heels category sales.
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With consumers perceiving casual and sports shoes as the sensible footwear over heels, it is more likely that brands such as Nike, Adidas, and Puma will continue to enjoy massive revenue over coming years.
Other popular brands are taking constant efforts in introducing competitively priced products in the market with an objective to extend their outreach to developing economies.