Latin America Footwear Market Size & Outlook, 2023-2030
Latin America footwear market, 2018-2030 (US$M)
Related Markets
Latin America footwear market highlights
- The Latin America footwear market generated a revenue of USD 24,460.5 million in 2023.
- The market is expected to grow at a CAGR of 4.2% from 2024 to 2030.
- In terms of segment, non-athletic was the largest revenue generating product in 2023.
- Athletic is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 24,460.5 million |
| Market revenue in 2030 | USD 32,528.3 million |
| Growth rate | 4.2% (CAGR from 2023 to 2030) |
| Largest segment | Non-athletic |
| Fastest growing segment | Athletic |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Athletic, Non-Athletic |
| Key market players worldwide | Nike Inc Class B, Adidas AG, Puma SE, Geox SpA, Timberland Bancorp Inc, Skechers USA Inc Class A, Crocs Inc, Under Armour Inc Class A, Wolverine World Wide Inc |
Other key industry trends
- In terms of revenue, Latin America region accounted for 5.6% of the global footwear market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 246,521.3 million by 2030.
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Footwear Market Scope
Footwear Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America footwear market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to footwear market will help companies and investors design strategic landscapes.
Non-athletic was the largest segment with a revenue share of 66.97% in 2023. Horizon Databook has segmented the Latin America footwear market based on athletic, non-athletic covering the revenue growth of each sub-segment from 2018 to 2030.
Government initiatives aimed at obesity prevention and control have led to the increased participation of individuals in physical activities across the region. Moreover, the 2014 FIFA World Cup and the 2016 Rio Olympics have had a positive influence on sports participation, fueling the growth of the footwear market, particular sports and athletic footwear.
Additionally, the growing availability of various types of footwear, including sneakers, lace ups, court shoes, ankle heels, and stilettos, is expected to drive product demand among consumers in the region. People have been considering the impact their actions and choices have on the environment and have been more open to buying sustainable apparel and accessories, including footwear. This is expected to open up new avenues for growth in the region.
Growing participation in daily physical activities such as running, going to the gym, and cycling is the major factor driving the growth of athletic footwear in the region. Moreover, the rising trend of athleisure, coupled with the emergence of custom product manufacturing, is expected to boost the demand for athletic shoes in the coming years.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America footwear market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America footwear market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America footwear market size, by country, 2018-2030 (US$M)
Latin America Footwear Market Outlook Share, 2023 & 2030 (US$M)
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