The women’s footwear market is expected to reach a CAGR of around 4.2% and US$219.5 billion during the forecast period 2022-2027

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According to a recent report by Future Market Insights (IMF), the women’s shoe market is expected to exceed a valuation of approximately US$178.4 billion in 2022 and at a CAGR of approximately 4.2% through 2027.

Attribute Details
Estimated Women’s Footwear Market Size 2022 US$178.4 billion
Women’s Footwear Market Size Projection (2027) US$219.5 billion
CAGR Value (2022-2027) 4.2%
Share of top players in the women’s footwear market in 2021. 5%-10%

Key Points Covered in the Women’s Footwear Market Survey

  • Market estimates and forecasts 2013-2027
  • Key drivers and restraints impacting market growth
  • Analysis by segment, by country and by region
  • Competitive Mapping and Benchmarking
  • Brand share and market share analysis

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Women are often concerned about the fitness of their body and they engage in a variety of activities to maintain their fitness, including trekking, gym, yoga, aerobics, etc. Maintaining healthy behaviors, controlling stress and getting extra help are all essential, according to the Centers for Disease Control and Prevention, especially during COVID-19. Regular exercise, decent sleep habits, and preventing excessive alcohol consumption are all simple methods to maintain healthy behaviors.

Manufacturers were driven by growing concerns about the physical health of female consumers, hence market players produced smart shoes for men and women. Nike, for example, launched the revolutionary HyperAdapt 1.0 self-lacing sneakers in 2018. Pressure sensors in the soles detect when the foot needs to be inserted and trigger an algorithm that enables automatic lacing. The shoes have built-in LEDs that can alert the wearer to a low battery or a tight fit. In addition, these shoes do not require daily charging and can be charged for up to two weeks.

In addition, many shoemakers have implemented a 3D manufacturing technique that has revolutionized the sector. 3D printing has become a new buzzword among companies that manufacture real objects. This trend could not be avoided by the footwear sector. Several shoe startups have invested in developing 3D printing technologies for manufacturing. Feetz, a US-based custom shoe company, has built its own 3D printer using fused filament technology. 3D printing is also gaining popularity due to its low environmental impact. Women’s shoes can also be 3D printed, and companies that use 3D printing technology have the opportunity to thrive.

Key Findings from the Women’s Footwear Market Research

  • As people’s lifestyles become more “healthy” and traditional dress codes become more relaxed and casual, it is likely that sporty, comfortable and casual women’s shoes will continue to dominate the market.
  • The demand for women’s shoes is quite high and growing at a rapid pace. Women’s shoes are targeted by major shoe companies, and the women’s shoes industry is strengthened through special advertising and branding.

Impact of COVID-19 on the market

The COVID-19 outbreak has wreaked havoc on various businesses around the world, including the women’s footwear industry. Due to the combined effect of outlet closures and frugality resulting from a rapidly deteriorating economic situation, the shoe’s discretionary nature has made it one of the businesses most damaged by the pandemic. Due to the availability of online shopping and door-to-door delivery, the women’s shoes market has witnessed a boom in demand in the mid months of 2020.

Who wins?

Leading women’s footwear manufacturers are focusing on aggressive promotional strategies and advertisements that have driven the growth of women’s footwear sales globally.

The major players present in the women’s footwear market are Nike Inc., Adidas AG, Puma SE, Skechers USA Inc., Under Armor Inc., Wolverine World Wide Inc., Crocs Inc., ASICS Corporation, Deichmann SE, The ALDO Group Inc. among others.

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Get more valuable insights

Future Market Insights, in its new offering, provides an unbiased analysis of the global women’s footwear market, showcasing historical demand data (2013-2021) and forecast statistics for the period 2022-2027. The study discloses compelling insights into the Women’s Footwear Market based on Product Type (Casual Shoes, Boots, Heels & Pumps, Sandals, Flip-Flops & Slippers, Athletic Shoes, Safety Shoes), By Base Material (rubber, leather, plastic, velvet, textiles and others), by sales channel (hypermarkets/supermarkets, specialty stores, multi-brand stores, direct sales, third-party online retailers and other sales channels), in each of the seven major regions.

About Future Market Insights (IMF)
Future Market Insights (FMI) is a leading provider of market information and advisory services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, USA and India. FMI’s latest market research reports and industry analysis help businesses meet challenges and make critical decisions with confidence and clarity amidst fierce competition. Our custom and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of analysts led by FMI experts continuously monitor emerging trends and events across a wide range of industries to ensure our clients are prepared for the changing needs of their consumers.

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The women’s footwear market post expected to grow at a CAGR of ~4.2% and US$219.5 billion during the forecast period 2022-2027 appeared first on Future Market Insights.

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