India Footwear Market: Industry Analysis and Forecast (2023-2029)

India Footwear Market size was valued at US$ 15.22 Bn. in 2022 and the total revenue is expected to grow at a CAGR of 12.83% through 2023 to 2029, reaching nearly US$ 35.43 Bn.
India Footwear Market Overview:
Footwear is a type of human-made clothing that surrounds and protects the entire foot, including the soles. Motion control, stability, and Neutral are the three types of the footwear. The most comfortable and corrective footwear is motion control footwear. Casual, Mass, Active/Sport, Leather, and Non-Leather are the product types of the footwear. Women, Men, and Kids are the end users of the footwear. Online and offline are the two types of mode of the sale of the Indian footwear. With exports of US$ 1660.41 million to the EU and US$ 312.21 million to the US, India sells almost 78% of its footwear to European countries and the United States. In Europe and the United States, India's footwear is very popular.To know about the Research Methodology :- Request Free Sample Report

Though market forecasting through 2029 is based on real output, demand and supply of 2022, 2022 numbers are also estimated on real numbers published by key players as well all important players across the world. Market forecasting till 2029 is done based on past data from 2018 to 2022 with the impact of global lock down on the market in 2022 and 2029.
India Footwear Market Dynamics:
The increasing number of internet users and the introduction of numerous social media platforms have significantly changed Indian customers' shopping habits. Rapid urbanisation, greater brand awareness, and rising discretionary budgets have all benefited in the growth of the footwear industry, giving it a status symbol image in the minds of consumers. In India, almost 66% of footwear sales occur in urban regions, with the remaining 46% occurring in rural areas, giving the footwear industry plenty of room to grow. However, because of developing understanding, increasing disposable income, and changing lifestyles, sales are progressively catching up in those places. As a result, there are many more options for these footwear companies to explore and compete in both the home and global markets.

India's domestic footwear consumption is estimated to be about 90%. Domestic demand is expected to increase rapidly as a result of changing lifestyles and rising disposable income.

Footwear manufacturers in India benefit from the availability of low-cost raw materials in large quantities, as well as low labour costs, resulting in lower production costs, which have lowered overall prices in the sector.

Despite being one of the world's largest manufacturers, the bulk of Indian footwear production companies are incompetent at branding and selling their products. The majority of these players are small and medium-sized businesses with a weak supply chain and insufficient marketing budgets.
India Footwear Market Segment Analysis:
Based on The Product, the market is segmented into Casual, Mass, Active/Sport, Leather, and Non-Leather. Casual segment is expected to hold the largest market shares of xx% by 2027. Casual footwear is primarily designed to give comfort and smooth walking. They're additionally insulated on the inside for further support and comfort. Casual footwear prevents the pain in the foot, improve circulation of the blood, improve body posture, and it has no long term damage. These are the key factor that drives the growth of this segment in the market during the forecast period 2022-2027.

Based on The Mode of Sale, the market is segmented into Online, and Offline. Online Sale segment is expected to grow rapidly at a CAGR of xx% during the forecast period. Increased adoption of digital technology and Smart phones has provided Indian consumers with rapid access to global trends. In the Indian footwear market, the online channel is gaining a foothold. The shifting shopping habits of Indian consumers are driving the growth of internet retailing. These are the key drivers that boost the growth of this segment in the market during the forecast period 2022-2027.

Based on The End User, the market is segmented into Women, Men, and Kids. Women segment is expected to grow rapidly at a CAGR of 20% during the forecast period. This is due to the rising use of internet services and women's participation in the labor force. This is also boosted by the main footwear manufacturer's increased spending to reach a larger consumer base. The transition to branded offerings benefits the women's segment. These are the factors that boost the growth of this segment in the India Footwear market during the forecast period 2022-2027.
Regional Insights:
South India dominates the India Footwear market during the forecast period 2022-2027. South India is expected to hold the largest market shares of xx% by 2027. This is due to the presence of the major footwear production centres in South India include Chennai, Ranipet, and Ambur in Tamil Nadu, and Mumbai in Maharashtra. In south India, there is a growing need for casual footwear, both leather and non-leather, Active/Sport footwear, and other types of the footwear. These are the key factor which is expected to drives the growth of South India region in the India Footwear market during the forecast period 2022-2027.

The objective of the report is to present a comprehensive analysis of the India Footwear Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also helps in understanding the Market dynamic, structure by analyzing the market segments and project the India Footwear Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Market make the report investor’s guide.
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India Footwear Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 15.22 Bn.


Forecast Period 2023 to 2029 CAGR:
12.83%
Market Size in 2027:
US $ 35.43 Bn.


 Segments Covered:
by Product
Casual
Mass
Active/Sport
Leather
Non-Leather


by Mode of Sale
Online
Offline


by End User
Women
Men
Kids



Key Players
1. Bata
2. Metro
3. Liberty
4. Ajanta
5. Khadims
6. Paragon
7. Action
8. Sreeleather
9. Catwalk
10. Mochi
11. Relaxo
12. MACRO FOOTWEAR
13. Lallan Shoes
14. Carbon Footwear
15. Shoe Art India
16. Condor Footwear
17. DSK Leather Works
18. Days Footwear
Frequently Asked Questions:
1] What segments are covered in India Footwear Market report?
Ans. The segments covered in India Footwear Market report are based on Product, Mode of Sale, and End User.

2] Which region is expected to hold the highest share in the India Footwear Market?
Ans. South India is expected to hold the highest share in the India Footwear Market.

3] Who are the top key players in the India Footwear Market?
Ans. Bata, Metro, Liberty, Ajanta, Khadims, and Paragonare the top key players in the India Footwear Market.

4] Which segment holds the largest market share in the India Footwear market by 2029?
Ans. Casual Footwear segment hold the largest market share in the India Footwear market by 2029.

5] What is the market size of the India Footwear market by 2029?
Ans. The market size of the India Footwear market is US$ 35.43 Bn. by 2029.

6] What was the market size of the India Footwear market in 2022?
Ans. The market size of the India Footwear market was worth US$ 15.22 Bn. in 2022.