January 10, 2022
According to the report titled ‘India Footwear Market- Analysis By Distribution Channel, By End User (2020 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)’ available with MarketStudyReport, India footwear market was valued at USD 9.70 billion in 2019 and is expected to grow at 8.28% CAGR over 2020-2025.
Growing premiumization of footwears, shift from unorganized & unbranded sections to branded category, and rapid urbanization are factors driving the growth of India footwear market.
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Furthermore, the rise in the middle-income group, and a spike in the literacy rate of the people are further accelerating the industry development.
Besides this, active participation in the workforces, coupled with an ever-growing population are creating lucrative opportunities for businesses in this line of work.
In terms of end-user, India footwear industry is classified into men, women, and children.
Based on distribution channel, the market is categorized into LFS (Large Format Store), EBO (Exclusive Brand Outlet), MBO (Multi Brand Outlet), traditional, and e-commerce. Of these, the e-commerce segment is likely to garner maximum revenue share during the forecast period due to the surge in penetration of internet services, and increasing population of working women. Huge investments pumped in the sector by prominent manufacturers to access a large consumer base is also fueling market growth.
The competitive landscape of India footwear market is defined by companies such as Liberty Shoes Limited, Bata Corporation, Relaxo Footwears Ltd., Khadim India Limited, and Paragon Footwears Pvt. Ltd. among others.
Additionally, for a better understanding of the marketplace, a granular analysis of revenue share and developments in the business sphere regarding the mergers & acquisitions, and major technological advancements taking place are mentioned in the report