US Footwear Market (2017–2028)
The global footwear industry is set to generate $122.2 billion in revenues in 2024, a 11% annual increase. With apparel and accessories 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.
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 $31.1 billion in 2024. This marks a 12.6% annual increase, the largest growth in three years. It’s also more than double the growth rate of the previous year, which registered at 5.6%.
These latest footwear industry statistics show that the market has expanded over the past few years. US footwear revenues have increased every year since 2018. There was a slight slowdown in 2022, as revenues grew by just 2.1%, which industry analysts have attributed the dip to the economic slowdown brought on by the Ukraine-Russia war.
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In 2017, the US footwear market size was $15.8 billion. This rose by 6% in 2018, to $16.7 billion, before another increase of 6.9% in 2019 took total annual revenues to $17.9 billion. In 2020, footwear revenues surged by 16.6%—more than two times the previous year’s growth rate—to $20.8 billion. This was followed by a 23% rise in 2021, the largest year-on-year growth expected between 2017 and 2028, to $26.2 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 12.2% in 2025, to $34.9 billion. Growth of 4.8% has also been forecast for 2026, which will bring the market size to $36.6 billion.
Industry experts have predicted continued growth for 2027, as the US footwear market increases its revenues by 5.5%, an acceleration from the previous year’s growth rate, to $38.6 billion. By 2028, this is expected to hit $40.5 billion, after a 5% annual rise.
From 2017 to 2028, online revenues from the US footwear industry are set to increase by $24.8 billion, an overall increase of 156.9% and an average annual growth rate of 9.1%.