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Shoes
Overview of the shoes industry
The footwear or shoes industry
is among the time-honoured, central and preeminent global industries. It is due to footwear being vital for the health and well-being of humans. For example, they help to ease pain, protect feet, and prevent injuries/infections. They also enhance performance, provide support and express a person’s personality. As a result, the segment is among the leading and pivotal segments of diverse sectors. Among them are fashion, sports, fitness, and health.Is the sector extensive and of high value?
As a result, the industry is notably extensive and of high value. For example, in recent years, the global segment has reached a market size of $463.87 billion. Approximately 4.58 million specialists throughout over 41,400 enterprises produce such values. They produce approximately 22 to 24 billion pairs of footwear every year, with 87% generated in Asia. Likewise, the segment is anticipated to experience a year-on-year growth of 13.5%.
Leading causes of the industry's development
It is due to the industry’s high focus on researching and implementing innovations. It is due to the novel solutions enabling it to adapt to the most recent trends, challenges, and requirements. Generally, the segment presents its latest models and innovations during trade expos. It includes semi-annual and annual events in diverse countries. They attract hundreds of thousands of attendees.