Sustainable Footwear Manufacturing Market is Booming across the Globe, Explores the Latest Report Shubham Jamdade
• July 02, 2021
According to Transparency Market Research’s latest research report on the
global footwear market for the historical period 2018–2019 and the forecast period 2020–2030, footwear has gained immense popularity in sportswear due to increasing sports activity and advancements in technology. These factors are expected to boost the global footwear market during the forecast period.
Footwear protects the user from adverse environments, especially ground texture and temperature. Boots, sneakers, sports shoes, jogging shoes, sandals, and indoor footwear among others, are the different types of footwear available in the market. Footwear is considered a prominent fashion accessory, especially among youngsters and the millennial. Moreover, the increasing demand for trendy, yet comfortable footwear among all age groups is a key factor driving the global footwear market.
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The risk of transmission of the pathogenic coronavirus has sparked innovations in shoe sole sanitizers. A research team from the Industrial Training Institute (ITI) Berhampur, Odisha, India, has developed an affordable ultraviolet-C (UVC) shoe sole sanitizer that was launched during a video conference. As such, COVID-19 has laid great emphasis on the importance of maintaining optimum health. Hence, companies in the footwear market are tapping into business opportunities in eCommerce to meet demands of health conscious individuals.
In terms of revenue, the global footwear market is expected to exceed value of
US$ 1.7Tn by 2030, expanding at a CAGR of ~8% during the forecast period. In addition, the reopening of gyms and other recreational facilities has given an impetus to the growth of the global footwear market during the COVID-19 pandemic. However, this growth is being witnessed gradually, since the global economic crisis has directly affected the spending capacities of individuals. This signals that manufacturers are upgrading their production and design capabilities. For instance, in