Footwear Market- India
Base Year: 2024
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 10.5% (2024-2032)
Market Size in 2023: USD 17.0 Billion
Market Size in 2032: USD 42.8 Billion
The India footwear market is rapidly growing as a result of a confluence of altering fashion trends, rising consumer demand, and rising health consciousness. According to the latest report by IMARC Group, the market size reached USD 17.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 42.8 Billion by 2032, exhibiting a growth rate (CAGR) of 10.5% during 2024-2032.
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India Footwear Market Trends and Drivers:
- Rising Consumer Demand: Increased incomes and changing fashion trends are leading consumers to choose higher-quality, stylish footwear. Urbanization and a growing middle class are driving preferences for branded shoes that offer both style and functionality.
- Diverse Footwear Options: India’s footwear market offers a variety of choices, including formal, casual, active, and social shoes. Casual shoes and sneakers are gaining popularity due to the increasing focus on health and fitness.
- Focus on Health and Wellness: As more people engage in running, gym workouts, and outdoor sports, the demand for comfortable and durable sports shoes is growing. Health and wellness are becoming top priorities for consumers.
- Government Support: Initiatives like the Make in India campaign are boosting domestic footwear production, helping meet the rising demand and fueling market growth.
- E-Commerce Growth: Online shopping platforms are making a wide range of footwear easily accessible to both urban and rural consumers, expanding the customer base for footwear companies.
- Sustainability Trends: Consumers are increasingly seeking eco-friendly shoes made from biodegradable or recycled materials, reflecting a heightened awareness of environmental sustainability.
- Technological Advancements: Innovations such as 3D printing and automation are enabling the production of affordable, customized shoes that meet specific needs for fit, design, and function.
- Collaborations Between Global and Local Brands: Partnerships between global brands and Indian artisans are blending traditional craftsmanship with modern styles, increasing the appeal of ethnic and handmade footwear.
- Improved Retail Experience: Organized retail and exclusive brands are enhancing the shopping experience by offering personalized services. Smart footwear, which combines style with fitness tracking, is attracting tech-savvy, health-conscious consumers.
- Future Growth: The market is set to expand further, driven by fashion-forward young consumers, government initiatives, new technologies, and a growing focus on sustainability. There is a rising demand for high-quality, branded footwear for fashion, sports, and daily use.
India Footwear Market Industry Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest India footwear market share. It includes forecasts for the period 2024-2032 and historical data from 2019-2024 for the following segments.
Breakup by Product:
- Non-Athletic Footwear
- Athletic Footwear
Breakup by Material:
- Rubber
- Leather
- Plastic
- Fabric
- Others
Breakup by Distribution Channel:
- Footwear Specialists
- Online Sales
- Supermarkets and Hypermarkets
- Departmental Stores
- Clothing Stores
- Others
Breakup by Pricing:
- Premium
- Mas
Breakup by End User:
- Men
- Women
- Kids
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Competitive Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
Ask Analyst for Customization: https://www.imarcgroup.com/request?type=report&id=2906&flag=C
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.
IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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