Global Footwear Industry Analysis 2020 | Fibre2Fashion

The global footwear market is growing in spite of the worldwide downturn and shows little sign of slowing down. So, what gives? An analysis by Subir Ghosh For more information, download our Garment Textile Fashion News App http://onelink.to/pspkdr Follow Fibre2Fashion on Social Media: Facebook: https://www.facebook.com/B2B.fibre2fashion LinkedIn: https://www.linkedin.com/company/167309 Twitter: https://twitter.com/fibre2fashion Instagram: https://www.instagram.com/fibre2fashion/ The global market There are as many ballpark figures as there are agencies that make predictions. The global footwear market, according to one study, was worth $246.07 billion in 2017. “Witnessing a tremendous rise” between 2015 and 2021, this market is expected to reach $320.44 billion by 2021. Another report puts the size at $371.8 billion by the end of 2020, with a CAGR of 5 per cent from 2015 to 2020. A third estimate believes the market was valued at $202.4 billion in 2018 and would reach $269 billion by the end of 2025, growing at a CAGR of 3.6 per cent during 2019–25. The European industry The European footwear industry, one of the biggest blocs, comprises over 21,000 companies that employ 278,000 employees, generating €27.5 billion in turnover annually. European Confederation of the Footwear Industry (CEC) chairman Luis Onofre asserts, “The fact that nine European countries rank among the top 15 world exporters is a clear indicator of the success of European footwear products at the gl