The global footwear market is a multi-billion U.S. dollar industry, comprised of sneakers, luxury footwear, athletic footwear, and sporting shoes, as well as other related goods. Footwear products are commonly made of leather, textile, and a range of synthetic materials. The United States has the largest footwear market in the world, generating over 78 billion U.S. dollars in revenue in 2021.
Previous generations may have survived with one or two pairs of functional footwear. Today however, the majority of people have a collection of footwear to meet various criteria and needs. Formal, casual, athletic: footwear come in a wide variety of shapes, styles, and sizes. As of 2020, the United States imported about 1.87 billion pairs of shoes. In 2021, the vast majority of shoes being imported to the U.S. came from countries in Asia. Footwear worth over ten billion dollars arrived from China alone in that year.
The revenue of the athletic footwear industry in the United States amounted to about 13.6 billion U.S. dollars in 2021 and is set to increase to over 18 billion dollars by 2025. Shoes, along with apparel, are increasingly seen as status symbols for consumers. Footwear brands and retailers play a huge role in catering to this market and these attitudes through their respective offerings and ranges as well as their advertising campaigns. For years now, Nike has held the largest share of the U.S. footwear market by far, and in 2020, the company accounted for a turnover of about 37 billion U.S. dollars.
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Research expert covering shopping behavior, sports and leisure retail, and the subscriptions and direct selling industry