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according to Stockapps.com The global footwear market is expected to exceed $500 billion by 2027, as demand for healthy lifestyles increases, according to the data report released.
At present, the market sales volume of the shoe industry is 365.5 billion US dollars. In the next five years, this figure will increase by 30%, that is, by 111 billion dollars. The report also points out that the footwear industry is expected to grow at a compound annual growth rate (CAGR) of 5.5% from 2020 to 2027.
The pursuit of healthy lifestyle has led to an increase in the demand for sports shoes, which means that sports shoes will grow fastest in the next five years, with a compound annual growth rate of 6.6%.
Judging from the regional market share of sports shoes in 2020, the Asia Pacific region will occupy 40% of the market share, followed by North America (30%) and Europe (25%).
In terms of the country's consumer population, last year's data showed that China, India and the United States were the three largest shoe consumers, followed by Indonesia, Brazil and Japan. However, in terms of national consumption income, the United States ranked first in the sales revenue of sports shoes in 2019, followed by China and the United Kingdom.
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