Europe Footwear Market Growth Analysis Report

Europe Footwear Market Outlook 2031

• The Europe footwear market was valued over US$ 235.4 Bn in 2020
• It is estimated to expand at a CAGR of 8.5% from 2021 to 2031
• The Europe footwear market is expected to surpass the value of US$ 572.5 Bn by the end of 2031

Analysts’ Viewpoint on Europe Footwear Market Scenario

Internet retail has been witnessing robust growth amid the ongoing COVID-19 crisis, owing to its advantage of convenience shopping, and this trend is expected to continue with the influx of Internet users. However, cutthroat competition in the Europe footwear market is challenging brands to innovate in new styles and designs. Thus, experimentation with lightweight materials and final product price are key strategies to gain a competitive edge over other brands. Kids, women, and individuals with disabilities are grabbing the attention of footwear brands. Companies are entering into collaborations with stylists and textile experts to innovate in comfortable, affordable, and trending footwear designs.

Prolific Expansion of Online Shopping Contributing to Footwear Sales

The burgeoning growth of eCommerce and mobile shopping apps is expected to propel the expansion in the Europe footwear market. In addition, consumers find online shopping to be the most convenient, as it provides attractive offers and satisfactory experience of shopping and transactions.

In Europe, specialty stores are catering to the demands of consumers with innovative products and attractive offers, which is expected to boost the growth in the Europe footwear market. Departmental stores with limited presence are expected to grow gradually. However, individual retailers and company outlets having strong relationships with end users are estimated to scale in footwear sales.

Social Media Significant for New Entrants amid COVID-19 Crisis

The COVID-19 crisis has resulted in limited impact on the Europe footwear market. As such, the online retail industry is offering a wide variety of buying options to customers. Manufacturers are foraying into men’s footwear to diversify their income sources. Lucrative discounts and offers on footwear are helping brands to draw increased sales amid the ongoing pandemic. Since financial situations have been squeezed for customers, opening up of international trade activities, and employment opportunities are anticipated to fuel footwear sales whilst increasing profits for brands. Social media and influencer marketing are playing a key role for new entrants in the market for footwear.

Brands Diversifying Product Portfolio with Patented Designs and Technology

Footwear brands are expanding their product portfolio for kids using innovative designs and patented technology. Such footwear collections are being made available for kids with disability to easily wear their shoes hands-free. The handball sports category is grabbing the attention of footwear brands to diversify their performance collection. Such specially designed footwear collections are meant for consumers as well as for Olympic participants.

Companies in the Europe footwear market are entering into collaborations to launch limited-edition footwear collections targeted toward Dragon Ball Z fans, where the collection is designed for both adults and kids.

Experimentation in Textiles Helps Design New Styles in Footwear

The booming textiles industry in Europe is creating the availability of a wide range of colors and textures in materials. The possible variations in textiles include different weaves, fibers, knits, and fabric weight. One key advantage of textiles in shoes is their versatility in styles and designs. Similar to their textile counterparts, synthetic materials also come in a variety of colors and textures. In addition, rubber and leather are the most popular materials in shoes to make soles. While not the only material used to make outsoles, rubber and leather are among the most popular in sports shoes, running shoes, and tennis shoes.

Changing Lifestyle of Customers Driving Innovations in Europe Footwear Market

The Europe footwear market is witnessing fast expansion, primarily due to the rapid demand for new and innovative footwear products. Comfortable, modern, and trendy shoes are being continuously developed at reasonable prices due to advancements in manufacturing processes and technology innovation in order to keep pace with the growing demand for these products. The increasing demand for trendy and comfortable footwear, along with changing lifestyle and surge in disposable income of consumers is expected to act as an excellent opportunity for the growth of the Europe footwear market during the assessment period.

Stiff Competition Challenging Brands to Offer Trending Footwear Styles

The athletic footwear segment is expected to dictate a significant revenue share among all footwear types during the forecast period. The increasing preference for use of athletic footwear in daily life is likely to increase volume sales of footwear over the period. Women constitute around 40% of the overall market. The market is expected to witness stiff competition in the future, due to the entry of footwear specialists and international retailers. Domestic retailers are continuously focusing on offering trending footwear styles, and brands are becoming price competitive in order to strengthen their foothold in the industry.

Europe Footwear Market: Overview

• According to Transparency Market Research’s latest research report on the Europe footwear market for the historical period 2017 to 2020 and forecast period 2021–2031, the footwear market is categorized on the basis of type, material type, end-user, price, distribution channel, and region. A footwear is a piece of garment worn on the feet to protect the feet during various activities.
• Sports footwear holds a major chunk of the Europe footwear market and is responsible for positive volume and value growth. Factors such as rising demand for comfortable footwear and increasing sports activity have significantly increased the focus on sportswear in the European market. Different international brands are merging sportswear with fashion wear nowadays due to advancements in technology. Moreover, there has been a surge in health and fitness activities among consumers worldwide, particularly in running and other sports. Increasing tendency among women to incorporate athletic footwear in daily life is likely to increase volume sales of footwear during the forecast period. Women constitute around 40% of the overall market.
• The Europe footwear market has undergone radical changes to maintain its competitiveness by moving toward high value-added products. This change is due to the combination of technological advancement, evolution of production costs, and the emergence of key international competitors. The Europe footwear market is likely to remain dominant by countries such as the U.K., Germany, Russia, France, and Italy owing to rising demand and preference for comfort footwear products. Europe is one of the potential markets for footwear due to its rich history of manufacturing, flexibility, and continuous innovation.

Increasing Focus on Sportswear

• Leading sports brands are continuously involved in the manufacturing of technically sophisticated and innovative products. Men and women are wearing sports-inspired footwear in daily life due to their changing lifestyles. Versatility, comfort, and style are some of the major factors driving the appeal of sportswear, which, in turn, is likely to propel the growth of the footwear market in Europe. Considering all these factors, the impact of this driver is moderate currently and is expected to become high due to increasing innovation in sports footwear during the forecast period from 2021 – 2031.

• The Europe footwear market is experiencing fast expansion, primarily due to rapid demand for new and innovative footwear products worldwide. Modern, trendy, and comfortable shoes are being continuously developed at reasonable prices due to advancements in manufacturing processes, technology innovation and integration, and in order to keep pace with the growing demand for these products. Increasing demand for trendy and comfortable footwear along with changing lifestyle of consumers is expected to act as an excellent opportunity for the growth of the footwear market in Europe during the forecast period.
• Internet retailing has been witnessing robust growth in the footwear market during the last few years. The online retail industry offers a wide variety of buying options to customers. Furthermore, customers have increasingly become confident in terms of using online payment options due to advancements in online payment security options. Major players in the e-commerce sector are progressively offering far more lucrative deals to shoppers in order to make their presence felt.

Europe Footwear Market: Competition Landscape

• Detailed profiles of providers of footwear market have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
• The Europe footwear market is fragmented due to the presence of several footwear players. Competition is expected to intensify in the next few years due to the entry of several local players.
• Key players operating in the Europe footwear market are
  • Adidas AG
  • Bata Corporation
  • Fal Calzados de Seguridad S.A.
  • FILA
  • Fluchos
  • G&G Footwear S.r.l.
  • Gabor Shoes
  • Imac Group Spa
  • Nike, Inc.
  • PUMA SE
  • Tolino
  • William Lamb Footwear Ltd. among others

Europe Footwear Market: Key Developments

• Key players in the Europe footwear market are focused on adoption of business strategies such as mergers & acquisition and geographical expansion. Furthermore, market players are focused on product development and enhancement to gain a competition advantage over others.
• In January 2022, Nike launched Dynamo Go and Play Pack collection for kids. This collection is made from FlyEase technology, which helps kids with disability to easily wear their shoes hands free
• In March 2021, Puma launched the handball performance collection. This collection is meant for consumers as well but was specially designed for Olympic Handball Tournament qualification matches and EHF Euro 2022 qualifiers.
• In December 2021, FILA teamed with Toei Animation to launch the limited-edition Dragon Ball Super x FILA footwear collaboration. This collection was targeted toward dragon ball fans and designed for both adults and kids.

Europe Footwear Market Snapshot

Europe Footwear Market – Segmentation

TMR’s study on the Europe footwear market includes information categorized into sections ― type, material type, end-user, price, distribution channel, and region. Changing industry trends and other crucial market dynamics associated with these sections of the footwear market are discussed in detail.