Australia footwear market expected to reach USD 3.86 billion by 2025, owing to the athleisure trend especially amongst women. Rising influence of fashion is one of the key factors contributing the upsurge in footwear industry revenue in Australia. Trend of wearing matching fashionable shoes with outfits is expected to drive demand for footwear market over the forecast period.
In recent times, the growing usage of shoe-knitting technology for manufacturing shoes is gaining traction in footwear industry. Shoe-knitting technology generates minimal waste thus helping in reducing labor and material cost. This technology benefits shoes manufacturers in reducing time and shipping cost as shoes can be converted into finished goods at the same place. Furthermore, technologies such as 3D printed technology is making the production easy with minimal wastage and less time. These technologies are helping to boost the production and revenue for shoes manufacturing companies in near future.
Footwear are made from raw material such as plastic, rubber, leather, and others. Polyester is one of the most widely used raw material for manufacturing knitted shoes owing to the recycling characteristics of the material. The market players are introducing new ways for manufacturing shoes with minimal wastages and less time. For instance, In March 2014, Adidas introduced its first knitted soccer cleat. The shoes offered both safety and comfort to the players while paying football.
The demand for trendy, comfortable and fashionable shoes from all age groups is rising on account of increasing consumer spending on clothing and footwear. Changing lifestyle coupled with increasing participation in sports activities has increased demand for sports shoes. Footwear companies in Australia sells its product to its consumers through online and offline distribution channels. Offline distribution channel held the largest share in the market. The factors such as high mobile penetration, consumer buying behavior, and ease of buying are intensifying the growth of online distribution channel over the forecast period.
Australia footwear industry is fragmented in nature with the presence of large number of small and large players in the market. The key players in operating in market are Nike, Inc., adidas Australia, H & M Hennes & Mauritz AB, PUMA SE, and Kickstarter, PBC. The manufacturers are concentrating on expanding their product portfolio by introducing variety of footwear in order to gain competitive advantage over its competitors in the footwear industry.
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Hexa Research has segmented the Australia footwear market report based on type and distribution channel:
Segmentation by Type, 2015 - 2025
Segmentation by Distribution Channel, 2017
Key players analyzed
• Nike, Inc.
• adidas Australia
• H & M Hennes & Mauritz AB
• PUMA SE
• Kickstarter, PBC