The outdoor footwear market is driven by demand for shoes that permit easy, fast movement. Products are increasingly lightweight and offer more and more flexibility. According to the Outdoor Industry Association, outdoor footwear grew over 14% year-on-year to over $990 million for the first five-months of 2011. The athletic footwear market is dominated by a few large players. The global footwear market is expected to reach $195 billion by the end of 2015, according to Global Industry Analysts, with volume sales exceeding 13 billion pairs exceeding in 2012. Market growth is predicted to rebound as consumer confidence builds in the post-recession economy. The US is the largest importer of athletic footwear, mostly manufactured in Asia. Athletic shoes are used across a range of sports, including basketball, tennis and running. Brands are often associated with specific sports, for example Nike for basketball.

 

Of late the global footwear market has been experiencing a stable growth rate due to continuous changing fashion trends. This market has exhibited sustainable development owing to driving factors such as rising demand for innovative designs, growing awareness about healthy and active lifestyle, rising population and disposable income levels, and rise in retail culture. According to MarketLine, advanced emerging markets such as Poland, Hungary, Brazil, South Africa, and Taiwan is expected to reach a combined value of almost approximately $24.3 billion by the end of 2014, at an annually growth rate in excess of 4% over five years. Brazil’s footwear market took the lead, by generating revenues of roughly around $10 billion in 2009. China’s footwear market has recorded strong growth in consumption and exports, which is likely to continue at an annual volume growth rate of 7% for the few years to come. Exports are strong because on the domestic market, Chinese people consume less than 2.5 pairs of shoes each year, whereas the Western average is far higher. India’s footwear market is expected to record strong growth in the years to come, reports RNCOS. The market, which has been impacted by an increasing presence of international companies, is predicted to record close to 10% annual growth from 2011 to the end of 2014. The market is fueled by advantageous factors such as a skilled workforce combined with low labor costs. In production terms, India is second only to China. This market sector drives expansion in India’s leather exports.