San Jose, California - The world footwear market is forecast to reach $195 billion by the year 2015, with volumes projected to reach 13.3 billion pairs by 2012, according to a report by Global Industry Analysts Inc.
"Growth will rebound ... largely driven by steady rebuilding of consumer confidence and recovery of the broader economy," said the San Jose, California-based group.
GIA says the prolonged recession has taken its toll on the footwear market with sales being eroded in developed countries and "growth slowing down considerably in developing countries."
Declining income levels have reduced spending on clothing especially footwear (including casual, outdoor, sports, and formal footwear).
GIA also see this frugal consumer spending as resulting in erosion in sales of high-end, expensive, premium brands.
Against this backdrop, global market for athletic footwear is expected to increase at a modest pace during 2007 through 2015 period.
The US and Europe account for a major share of the global footwear market revenues, and hence bore the brunt of the recession.
Developing markets continue to post quick recovery, given the growing Asian appetite for mass consumption of footwear, globalisation of the industry, the casualisation of clothing, and rising number of sports enthusiasts in the region.
Volume sales of outdoor/rugged footwear in Asia-Pacific are expected to surge at a CAGR of 3.7 percent during the analysis period.
Major players in the global marketplace include adidas AG, Bata Shoe Organization, Brown Shoe Co., Deckers Outdoor Corp., ECCO Sko A/S, Gucci Group, Kenneth Cole Productions, LaCrosse Footwear, Nike, Nine West Group, Puma AG, R.G. Barry Corp., San Paulo & Alpargatas, The Timberland Co., Vans, Weyco Group, Wolverine World Wide, among others.
GIA's report, "Footwear: A Global Strategic Business Report," reviews market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities.
The report provides market estimates and projections in billion pairs and $ million for major geographic markets including the US, Canada, Japan, France, Germany, Italy, the UK, Spain, Russia, Asia-Pacific, Latin America and the Middle East/Africa.
Product segments analysed include, athletic footwear (aerobic, baseball, basketball, cricket, cross-training, soccer, running, tennis, walking, hiking, hockey, and athleisure among others), casual footwear, outdoor/rugged footwear, and dress/formal footwear.
The 858-page report, with 174 market data tables, and covers 841 companies. It was published in January 2011 and costs $4950