Key Insights
Essential data points from our research
The global footwear market was valued at approximately $381.9 billion in 2022
The global footwear market is expected to reach $508.2 billion by 2027
The athletic footwear segment is projected to grow at a CAGR of 4.6% from 2023 to 2030
Asia-Pacific held the largest market share of over 40% in the global footwear market in 2022
Nike generated $46.7 billion in revenue in fiscal year 2022
Adidas generated €21.2 billion in net sales for 2022
In 2021, 24.3 billion pairs of shoes were produced globally
China remained the largest footwear producer in 2021, accounting for over 54% of global production
The United States imported 2.3 billion pairs of shoes in 2021
Women’s footwear accounted for 51% of total footwear retail sales in the U.S. in 2022
The average price of a pair of sneakers increased by 6.3% in 2022
Sneakers resale market was valued at $6 billion in 2022
The secondhand footwear market is expected to grow at a CAGR of 13.6% through 2026
Consumer Behavior and Preferences
- 38% of U.S. consumers named comfort as the most important factor when buying shoes
- 70% of consumers are willing to pay more for sustainable footwear
- 46% of adults in the U.S. owned at least 6 pairs of athletic shoes in 2022
- Over 300 million pairs of shoes are discarded every year in the U.S.
- On average, a consumer in the U.S. buys 7.4 pairs of shoes annually
- 56% of consumers discover new shoe brands on social media
- Online reviews influence 90% of footwear buying decisions
- Nearly 30% of footwear returns are due to size mismatch
- Global per capita footwear consumption stood at 3.1 pairs in 2022
- Average online footwear return rate is 30%
- Women buy nearly 80% of all footwear sold in the U.S.
- Nearly 45% of Millennials prefer shopping footwear online than offline
- 67% of footwear consumers say brand image influences their buying decision
Interpretation
In a world where comfort walks hand-in-hand with sustainability, image still struts in designer shoes, online reviews fall heavier than heels at midnight, and Americans buy far more sneakers than they run in—only to toss hundreds of millions of pairs a year in a landfill-sized footprint of irony.
Market Size and Growth
- The global footwear market was valued at approximately $381.9 billion in 2022
- The global footwear market is expected to reach $508.2 billion by 2027
- The athletic footwear segment is projected to grow at a CAGR of 4.6% from 2023 to 2030
- Nike generated $46.7 billion in revenue in fiscal year 2022
- In 2021, 24.3 billion pairs of shoes were produced globally
- The United States imported 2.3 billion pairs of shoes in 2021
- The average price of a pair of sneakers increased by 6.3% in 2022
- Sneakers resale market was valued at $6 billion in 2022
- The secondhand footwear market is expected to grow at a CAGR of 13.6% through 2026
- The U.S. footwear market was valued at $91.2 billion in 2022
- Eco-friendly footwear sales grew 18% in 2022
- The global luxury footwear market was valued at $32.23 billion in 2021
- The luxury footwear market is projected to grow at 5.6% CAGR between 2022 and 2030
- Nike holds over 27% share in the global footwear market
- India produced more than 2.5 billion pairs of shoes in 2022
- Global trade in footwear decreased 3.8% in volume in 2022
- Birkenstock's revenue reached €1.24 billion in 2022
- PUMA's sales increased by 18.9% in 2022 reaching €8.465 billion
- Vans’ revenue was $3.6 billion in 2022
- The women's designer footwear market grew by 12% in 2022
- The global diabetic footwear market reached $6.2 billion in 2022
- The global safety footwear market is projected to hit $11.2 billion by 2027
- Online footwear sales increased by 17.2% in 2022 globally
- Circular footwear markets are expected to grow by 14.6% CAGR through 2028
- The vegan footwear market is expected to reach $32 billion by 2030
- U.S. kids' footwear market was valued at $10.7 billion in 2022
- Footwear manufacturing employs over 5 million people globally
- Footwear industry contributes around 1.2% to global GDP
- Heels have seen a 7% YoY decline in sales since 2019
- Global demand for orthopedic footwear is rising at 5.5% CAGR
Interpretation
If the shoe fits, wear it—but in today’s $381.9 billion global footwear industry sprinting toward $508.2 billion by 2027, it better be athletic, eco-friendly, possibly secondhand, and ideally sold online, because while stilettos stumble, sneakers, sustainability, and specialization are walking all over the competition.
Product Segments and Trends
- Women’s footwear accounted for 51% of total footwear retail sales in the U.S. in 2022
- The children’s footwear segment accounts for 15% of global footwear revenue
- Leather footwear constitutes about 28% of the global shoe market
- Nearly 64% of footwear purchased globally in 2021 were casual shoes
- Timberland sources 100% of its leather from gold- and silver-rated tanneries
- Flip-flops accounted for about 9% of global footwear sales in 2022
- Footwear makes up over 25% of total global leather production
- Platform shoes were among the fastest growing fashion shoe categories in 2022
- Athletic footwear now accounts for over 37% of total global footwear sales
- The average pair of sustainable shoes costs $120 USD
- Sneakers accounted for 69% of all footwear resale market in 2022
- PVC is used in nearly 14% of all synthetic footwear
- Sneaker culture among Gen Z has driven a 15% rise in limited edition shoe releases
Interpretation
From boardrooms to playgrounds, runways to resale apps, the footwear industry laces together fashion, function, and fierce consumer demand—where women lead in retail, kids step up globally, sneakers rule resale, and even flip-flops take a firm stand, proving that what we wear on our feet speaks volumes about the world we walk in.
Regional Insights
- Asia-Pacific held the largest market share of over 40% in the global footwear market in 2022
- China remained the largest footwear producer in 2021, accounting for over 54% of global production
- The European Union exported 7.6 billion euros worth of footwear in 2022
- North America held 23.1% of global footwear revenue in 2022
- Asia contributes more than 86% of global footwear manufacturing
- Asia accounted for 85.3% of footwear exports in 2021
- The U.S. accounts for over 20% of global footwear retail sales
Interpretation
While Asia weaves the world’s shoes with over 86% of global manufacturing and China stitching the lion’s share, it’s the West—led by a fashion-forward EU and sneaker-loving U.S.—that walks away with the cash register ringing.
Retail and Sales Channels
- Adidas generated €21.2 billion in net sales for 2022
- E-commerce sales represented 35% of all footwear sales in 2021
- Skechers achieved $7.4 billion in annual sales in 2022
- Digital shopping accounted for 75% of Gen Z footwear purchases in 2022
- Crocs generated $3.55 billion in revenue in 2022
- Foot Locker had $8.75 billion in sales in 2022
- In 2022, 42% of U.S. footwear purchases were made via smartphone
- Footwear sales via voice-assisted shopping grew 26% in 2022
Interpretation
In a world where sneakerheads swipe more than they stroll, the €21.2 billion Adidas raked in and the 75% of Gen Z buying kicks online show that the future of footwear is less about walking into stores and more about talking—and tapping—your way to fresh soles.
