US Footwear Demand to Rise 4.0% Per Year in Nominal Terms to 2023
CLEVELAND, July 11, 2019 /PRNewswire/ — US footwear demand is forecast to increase 4.0% per annum in nominal terms through 2023, according to Footwear: United States, a report recently released by Freedonia Focus Reports. Advances will be driven by rising income levels, which will allow consumers to purchase more and higher value footwear. Increasing complexity of footwear designs in terms of materials and assembly will contribute to price gains. Sales will remain supported by footwear’s position as a functional necessity, but also as a piece of recreation equipment, and as a means to project a fashionable and professional appearance.
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In addition to a broad shift to textile uppers, there’s been movement toward shoes made of sustainable and environmentally friendly materials (e.g., made without animal products, made with recycled plastic, made with sustainably sourced wool, hemp, and other natural materials). Trends like these impact the mix of products footwear producers consume, as well as their expectation of innovation from plastic resin manufacturers and compounders; rubber and leather suppliers; and coating, adhesive, and sealant producers.
These and other key insights are featured in Footwear: United States. This report forecasts to 2023 US footwear demand and shipments in nominal US dollars at the manufacturer level. Total demand is segmented by type and upper material in terms of:
- rubber and plastic
- other materials, such as disposable shoes
- rubber and plastic
To illustrate historical trends, total demand, total shipments, the various segments, and trade are provided in annual series from 2008 to 2018.
Ice skates, roller skates, toy footwear, and orthopedic extension footwear are excluded from the scope of this report. Re-exports of footwear are excluded from demand and trade figures.
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Consumer Goods reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
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SOURCE The Freedonia Group