The global footwear market is a multi-billion U.S. dollar industry. A part of the clothing and apparel industry, the footwear market is comprised of shoes, sneakers, luxury footwear, athletic footwear, and sporting shoes, as well as other related goods. Footwear products are commonly made of leather, textile, and a range of synthetic materials. In 2020, the global footwear market was estimated to be worth over 365 billion U.S. dollars.

Market overview

Previous generations may have survived with one or two pairs of functional footwear, however nowadays the majority of people have a collection of footwear to meet various criteria and needs. Formal, casual, athletic: footwear come in a wide variety of shapes, styles, and sizes. In 2020, 20.5 billion pairs of footwear were produced around the world. In comparison, global footwear production amounted to 24.3 billion pairs in 2019. Asia is responsible for over 85 percent of global footwear production.
Footwear has also become an important form of expression for many people from all walks of life not only serving a practical purpose for the wearer, but also playing a role in portraying their self-identity through the footwear they wear. Shoes, along with apparel, have turned from simple goods into genuine status symbols for consumers. Sports shoes market has been growing rapidly in the last decade and is expected to worth about 70 billion U.S. dollars worldwide.

Market leaders

There are a number of large multi-national companies within this industry, one of the most well known being Nike, the American sportswear company. In 2020, Nike led their main direct competitors of Adidas and Puma with footwear segment revenues of approximately 23.31 billion U.S. dollars worldwide. In the same year, TJX Cos was the leading apparel/footwear retailing company in the world with revenues of 32.1 billion U.S. dollars. In regards to out and out footwear companies, Deichmann posted the largest revenue worldwide at 4.75 billion euros in 2020.

Interesting statistics

In the following 4 chapters, you will quickly find the 24 most important statistics relating to "Global footwear market".


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