Global footwear market to reach $588b by 2030

It is driven by rising disposable income and urbanisation.

The global footwear market is projected to grow from $457.09b in 2024 to $588.22b by 2030, at a CAGR of 4.3%, according to The Research Insights.

Rising disposable income, urbanisation, and changing consumer preferences are driving growth.

Demand for athleisure and performance footwear is also rising as more consumers focus on health and fitness. Brands like Nike, Adidas, and Puma are responding with shoes designed for both workouts and everyday wear.

Additionally, urbanisation in emerging markets is boosting demand for fashionable and functional footwear.

Social media and fast fashion trends are also shortening style cycles and driving demand for seasonal and limited-edition collections.

Moreover, e-commerce continues to reshape the industry. Online platforms offer wider selection, convenience, and tools like virtual try-ons. Brands are adopting omnichannel strategies to integrate online and in-store experiences.

Asia Pacific leads the market, accounting for over 40% of global sales in 2023. Growth is strongest in China, India, and Japan, fuelled by rising incomes and expanding internet access.