U.S. demand for footwear to reach 31.1 billion dollars

Freedonia Focus Reports has released a study showing that U.S. demand for footwear could reach 31.1 billion dollars by 2021. Demand for women's footwear is expected to be the largest product segment in 2021. One fact that might constrain demand for women's footwear is the growing trend of wearing casual footwear in formal and work environments.

Athletic footwear is expected to continue to outpace all other product segments as consumers place increasing importance on comfort when purchasing apparel. Trends towards allowing casual dress in the workplace will also benefit demand for athletic footwear. Consumer demand for athletic footwear in everyday use has led many suppliers to design these products for both fashion and athletic performance.

Case in point, look at the success of brands like Puma, which recently reported a 16 percent lift in revenue to 1.13 billion dollars. Consumers love their athletic wear, just look at how athleisure went from a trend to being a market staple.

Brands like Adidas and Nike have also seen robust growth over the past several quarters. In Puma's case, they also have Rihanna's Fenty in their portfolio, which has become a bread-and-butter part of the brand.