Footwear market: Automation, consolidation emerge key to success

In 2016, more than 21 billion pairs of shoes were produced globally, which means about three pairs of shoes were made for every person in the world. According to market research conducted by IndexBox, driven by the world population growth, global footwear market as a whole is projected to continue an upward consumption trend over the next nine years. Fast to market approach is what footwear brands are now targeting to fulfil the growing consumer demand. Are consolidation and full automation of the footwear making process an answer to this need?