Footwear market to log $48.7 bn by 2010

10 Mar '06

2 min read

Consumer goods research and analyzing company Packaged Facts reported that having experienced steady growth since a sharp drop in 2002, the market for athletic, casual, and dress shoes, slippers, boots and sandals is expected to climb to $48.7 billion by 2010, according to the US Market for Footwear.

Packaged Facts is leading provider of industry-specific market research reports.

With the market expected to reach $43.2 billion by the end of 2005, Packaged Facts projects that the market will increase in value by 12.6 percent from 2005 to 2010. Athletic footwear, with promises of high fashion and comfort, dominates the US market, with 2004 sales surpassing $16.4 billion.

Nike for long has dominated the athletic shoe sector, but the market may well become more energized this year, as Adidas is expected to complete its acquisition of Reebok and breathe new life into product and retail competition.

Price has been a major factor in consumer spending on footwear, and with 95 percent of all footwear sold in the US manufactured abroad-83 percent of which is from China-retailers have the ability to offer quality footwear at affordable prices.

"While the athletic footwear giants are breaking the bank with their new technology-driven footwear, today's consumers are also looking for fashionable functionality and affordability in all of their shoes," said Don Montuori, the publisher of Packaged Facts.

"Many urban styles are evolving into a classier and dressier look, and comfort-wear consumers are looking for additions like ornaments and textures, whatever will make their shoes a unique expression of their own evolving sense of style."

Footwear is a highly volatile market susceptible to the latest tastes and whims of the global fashion world. The US Market for Footwear offers a balanced look at the newest product trends, the latest mergers and acquisitions impacting the market, current and future industry leaders, and the most up-to-date consumer trends and behaviors driving growth in the footwear market.

Packaged Facts is a trusted provider of authoritative consumer market research.

Packaged Facts

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