Supply, Demand & Price Trends in European Safety Footwear Market

Demand for safety footwear in Europe is majorly driven by the demand from major industry segments. There has been a reduction in the overall labor force in the major safety footwear market segments such as manufacturing, wholesale & retail and agriculture thereby reducing the demand for safety shoes in these segments. This trend was due to the shift of labor towards service segments like public sector services, transportation and IT/Communication sector. Another major reason for reduction in the demand is end users are widely looking for cost saving opportunities in every functional area and safety shoes is not an exception resulting in lower replacement rates of safety shoes. Safety Footwear Sourcing in Europe Europe is one of the major import markets for safety footwear from China, the largest footwear export country. In European Union, the trend towards sourcing safety footwear from low-cost countries is increasing which in turn is affecting the local production. Production has been declining in some parts of Europe such as Western, Central and Southern Europe due to the shift towards low cost countries such as Central & Eastern Europe, Africa & Asia. This has created a price competition in the market. Downward pressure on price and mark-up has increased due to the increasing competition and buyerï¾Ãƒâ€šÃ‚Æ’??s focus on price. Trade Channels & Price Trends Safety footwear is mainly distributed through intermediaries such as wholesaler, distributors, and retailers and also through online e-commerce sites. Pressure on price has been increasing due to increasing buyer power among end users and distributors.?? The constant increase in the cost price of labor and material is also increasing the pressure on prices.