US Footwear Market (2017–2029)
The global footwear industry is set to generate $412.9 billion in revenues in 2024, a 3.6% annual increase. With shoes ranking among the top ecommerce categories in the United States, opening an online footwear store can prove to be lucrative for aspiring entrepreneurs.
To understand potential sales, here’s a closer look at the US footwear market size.
|
Year |
Total revenue |
Annual change |
|
2017 |
$22.86 billion |
|
|
2018 |
$24.25 billion |
+6.1% |
|
2019 |
$25.92 billion |
+6.9% |
|
2020 |
$30.23 billion |
+16.6% |
|
2021 |
$37.18 billion |
+23.0% |
|
2022 |
$38.07 billion |
+2.4% |
|
2023 |
$38.14 billion |
+0.2% |
|
2024 |
$41.05 billion |
+7.6% |
|
2025 |
$44.77 billion |
+9.1% |
|
2026 |
$49.25 billion |
+10.0% |
|
2027 |
$53.82 billion |
+9.3% |
|
2028 |
$57.51 billion |
+6.9% |
|
2029 |
$60.12 billion |
+4.5% |
US footwear industry statistics: 2017–2024
According to a recent analysis of the US footwear market, online revenues from these products are estimated to hit $41.1 billion in 2024. This marks a 7.6% annual increase, the largest growth in three years.
These latest footwear industry statistics show that the market has expanded over the past few years. US footwear revenues have increased every year since 2017. There were slight slowdowns in 2022 and 2023, as revenues grew by just 2.4% and 0.2%, which industry analysts attributed to the economic slowdown brought on by the Ukraine-Russia war.
In 2017, the US footwear market size was $22.9 billion. This rose by 6.1% in 2018, to $24.3 billion, before another increase of 6.9% in 2019 took total annual revenues to $25.9 billion. In 2020, footwear revenues surged by 16.6%—more than two times the previous year’s growth rate—to $30.2 billion. This was followed by a 23% rise in 2021, the largest year-on-year growth expected between 2017 and 2029, to $37.2 billion.
US footwear industry statistics: 2025–2029 forecast
Looking ahead, the US footwear industry is set to continue rising. By analysts’ estimates, the sector is expected to grow its revenues by 9.1% in 2025, to $44.8 billion. Growth of 10% has also been forecast for 2026, which will bring the market size to $49.3 billion.
Industry experts have predicted continued growth for 2027 and 2028, as the US footwear market increases its revenues by 9.3% and 6.9%, a deceleration from the previous year’s growth rate, to $53.8 billion and $57.5 billion, respectively. By 2029, this is expected to hit $60.1 billion, after a 4.5% annual rise.
From 2017 to 2029, online revenues from the US footwear industry are set to increase by $37.3 billion, an overall increase of 163% and an average annual growth rate of 8.5%.
Best-selling items in the US footwear market
|
Type of footwear |
Revenue |
|
Leather footwear |
$11.38 billion |
|
Textile & other footwear |
$11.13 billion |
|
Athletic footwear |
$10.74 billion |
|
Sneakers |
$7.80 billion |
In 2024, leather footwear is expected to be the biggest revenue-generating product in the US footwear market. Sales from these items are forecast to reach $11.4 billion, 3.8% on 2023’s numbers.
It is followed by textile and other types of footwear, which is set to generate $11.1 billion in revenue. Athletic footwear, which will bring in $10.7 billion in revenues, is projected to be the fastest-growing item, as revenues surge by 14.4% year on year. Meanwhile, revenues from sneakers are expected to rise by 7.6%, to $7.8 billion.