Premium Shoes Market- Trends, Drivers, and Growth Prospect Analysis unto 2021

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According to Technavio’s latest market research study, the global premium shoes market is expected to grow to $49.14 billion by 2021.

Technavio’s latest report provides an in-depth analysis of the global premium shoes market in terms of the revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.

Technavio’s research analysts categorize the market based on the product type:

Global premium shoes market by product categorization

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A brief on the major revenue contributors in this segment:

→Global premium sports shoes market

In the year 2016, sport shoes were the largest revenue generating segment in the global premium shoes market. The three major reasons behind this development, as identified by our market analysts specializing in consumer and retail are:

  • High concentration of players in the developed as well as emerging economies
  • Growing scope of international and regional sports tournaments across the world
  • Rising health awareness among individuals leads to more customer membership in gyms and health clubs, in turn raising the demand for sports shoes

Due to the aforementioned factors, it is expected that the demand for premium sports shoe will increase significantly en route to 2021.

→Global market for other premium shoes

Formal and casual shoes fall in the category of ‘other premium shoes’. These shoes are mostly made of leather and synthetic materials. As this segment comprises of a major chunk of leather made shoes, it is expected that leather shoes will aggregate large volumes of revenue during the forecast period.

When seen from the point of view of end-users, the three main classifications are:

  • Men
  • Women
  • Children

In 2016, the men’s segment contributed the highest revenue share, followed by the women and children’s segments. It is predicted that in five years, the men’s segment will continue to dominate the global premium shoes market, whilst the women’s and children’s segments will expectedly lose their respective market shares.

The top vendors operating in the global premium shoes market are:

  • Adidas Group
  • New Balance
  • Nike

Other prominent vendors in this market include Amer Sports, C&J Clark International, & British Knights.

A more detailed analysis is available as part of the Technavio market research report titled, ‘Global Premium Shoes Market 2017-2021’. Technavio also customizes reports in line with different regions and specific segments upon request.

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