Regional Analysis

Market Regional Insights:

Asia Pacific accounted for highest market share of 42.6% in 2023. The footwear market is labor-intensive and is affected by various factors such as land resources, labor costs, material supply, environmental protection, and sales markets. In pursuit of profit maximization, major consumer markets, footwear manufacturers, wholesalers, and retailers worldwide are shifting their focus to lower-cost countries, leading to the constant movement of global shoemaking bases. Japan, Taiwan, India, and China are lucrative markets for footwear in the Asia Pacific region.
North America accounted for 28% of the footwear market share in 2023, owing to the presence of major footwear manufacturers in the region. Footwear remains one of the most popular items that Americans purchase. Footwear firms invest tens of billions of dollars each year on their employees, stores, and platforms to ensure that these provide high-quality shoes on time.
Europe accounted for 18% of the footwear market share in 2023. Increased customization and personalization and increased online product delivery services across developed countries in Western Europe including Italy, the U.K., Germany, France, and Spain can drive the market growth in the region.

Geographies covered:

North America: U.S. and Canada
Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
Middle East: GCC Countries, Israel, and Rest of Middle East
Africa: South Africa, North Africa, and Central Africa