Due to the presence of a large number of players, the global footwear market demonstrates a highly competitive landscape. To gain an edge in the market, the leading vendors particularly focus on product differentiation and capitalizing on the opportunities in emerging countries. Furthermore, leading companies such as Nike Inc. (U.S.), Adidas AG (Germany), Bata Limited (Canada), Puma SE (Germany), and others are also looking at mergers and acquisitions as one of the key strategies to expand their businesses globally.
Despite growth witnessed by the overall fashion industry being robust, expansion of the footwear market will remain moderate between 2015 and 2023. Transparency Market ...view middle of the document...
This makes online retail a lucrative channel of sale of footwear.
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Due to the presence of a large number of local manufacturers, the production of counterfeit products has emerged as a critical concern in the market. The availability of duplicate products in the market is hampering the distribution channel of genuine producers. Enforcement of intellectual property rights is thus deemed necessary to counter this rising concern.
Nevertheless, with the demand for innovative footwear rising, the market players see lucrative opportunities to gain from in the forthcoming years. The leading enterprises engaged in the manufacture and sale of footwear are also benefitting from the advancements in production processes.
North America and Asia Pacific Emerge as Most Lucrative Regional Markets for Footwear
Regionally, North America, Europe, Asia Pacific, and Rest of the World constitute the most lucrative markets for footwear. Among these regions, North America dominated the global footwear market with a share of 35.64% in terms of revenue in 2014. However, on account of volume Asia Pacific emerged dominant in the market with...