Global footwear market appears to be thriving
According to a new report, ‘Footwear: Global Industry Guide’, published by research company Research and Markets, the global footwear industry is currently thriving and is set to continue to expand.
The study covers global, European, Asia-Pacific and eleven individual country markets and provides a five-year forecast of the industry.
The report reveals that the global footwear market generated total revenues of $159.6 billion in 2005, an increase of 3.8% since 2004, representing a compound annual growth rate (CAGR) of 3.3% for the five-year period spanning 2001-2005.
Footwear consumption volumes increased with a CAGR of 4.9% between 2001 and 2005, to reach 10 billion pairs in 2005.
Looking forward, it is likely that the market will accelerate its current performance in terms of value, with an anticipated CAGR of 4% for the five-year period 2005-2010, which is expected to drive the market value to $194.3 billion by the end of 2010.
