Footwear Market Overview in the USA
In value terms, footwear production skyrocketed to $ in . Over the period under review, production recorded a buoyant increase. The pace of growth appeared the most rapid in 2015 when the production volume increased by % year-to-year. As a result, production attained the peak level of $. From 2016 to , production growth remained at a somewhat lower figure.
The value of the footwear market in the U.S. dropped significantly to $ in , falling by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2010 with an increase of % y-o-y. Footwear consumption peaked at $ in 2007; however, from 2008 to , consumption failed to regain the momentum.
From 2007 to , the most notable rate of growth in terms of footwear consumption, amongst the main consumed products, was attained by waterproof footwear, while footwear consumption for the other products experienced a decline.
In value terms, footwear with uppers of leather ($), footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap ($) and footwear with uppers of textile materials ($) were the products with the highest levels of market value in , together comprising % of the total market. Waterproof footwear lagged somewhat behind, comprising a further %.
In terms of the main consumed products, waterproof footwear saw the highest rates of growth with regard to market size, over the period under review, while footwear market for the other products experienced a decline.