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 expanding quickly due to a combination of shifting customer preferences, greater health consciousness, and changing fashion trends. 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
- Increasing incomes and shifting fashion trends are driving demand for high-quality, stylish footwear.
- A growing middle class and urbanization are fueling interest in branded shoes that blend fashion with functionality.
- Diverse Product Offerings
- India’s footwear market includes a wide range of products, from casual and sporty to formal and ethnic styles.
- Sneakers and casual shoes are gaining popularity as health and fitness become priorities.
- Sports shoes designed for outdoor activities, running, and gym workouts are in high demand.
- Government Initiatives
- Campaigns like "Make in India" promote domestic production to meet growing demand.
- Support for local manufacturing is bolstering the industry while reducing reliance on imports.
- E-commerce Boom
- Online shopping platforms make a vast selection of footwear accessible to both urban and rural consumers.
- Convenience and variety have expanded the customer base for footwear brands.
- Focus on Sustainability
- Increasing awareness of environmental issues has led to demand for eco-friendly footwear.
- Shoes made from biodegradable or recycled materials are becoming more popular.
- Technological Advancements
- Innovations like 3D printing and automation enable the production of affordable, customized footwear.
- Smart footwear with fitness tracking features is gaining traction among tech-savvy consumers.
- Blending Tradition with Modernity
- Collaborations between global brands and local artisans are bringing ethnic and handmade footwear into the spotlight.
- Traditional craftsmanship is being revitalized with modern designs, appealing to a broader audience.
- Enhanced Retail Experience
- Organized retail and exclusive brands offer personalized services to improve the shopping experience.
- Premium retail outlets cater to the growing demand for branded and high-end footwear.
- Young, Fashion-Forward Consumers
- The youth segment is a key driver, seeking trendy and functional footwear for daily use, sports, and fashion.
Outlook for the Future
The Indian footwear market is on an upward trajectory, driven by sustainability initiatives, technological innovation, and government support. With increasing demand for premium and branded footwear, the industry is set for rapid growth, making it an exciting time for businesses and consumers alike.
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
- Mass
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.
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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.
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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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