The global Leather Footwear Market size is expected to
reach USD 202,305 million by 2025, according to a new report by Grand View
Research, Inc. It is projected to register a CAGR of 2.8% during the forecast
period, attributed to the rise in working class population and disposable
income, flourishing retail e-commerce sector, and evolving fashion trends in
business wear. Availability of myriad products and shopping channels will
further accelerate the growth.
Leather
footwear market is closely aligned with consumer spending on fashion accessories.
Rapid rise in spending on fashion accessories due to growing influence of
social media is driving the market. Evolving shopping trends and increasing
propensity toward buying high-end and designer shoes are estimated to fuel the
market growth. On the other hand, availability of counterfeit shoe products
developed by local manufactures may hinder growth. However, high demand for
trendy, fancy, and comfortable footwear is driving the market growth.
The male
end user segment accounted for the highest market share of about 56% in 2018.
It is expected to register the fastest CAGR from 2019 to 2025. Growing
awareness regarding physical appearance among the males along with evolving
fashion trends, is also expected to drive the growth. High influence of advertising
campaigns by big brands that feature popular male personalities is expected to
result in an increasing demand from the young generation. Tailor made leather
shoes is the trend that is expected to fuel the growth in male segment.
The female
segment is anticipated to register a CAGR of 2.8% over the forecast period. The
growth is due to the drop in purchase of heeled shoes. Increasing number of
working women is driving the growth of female leather footwear industry.
Women’s spending on leather footwear like high ankle length shoes, reptile and
animal skin, suede ballerinas, pumps, boots, casual town shoes, sandals, and
flip-flops is driving the growth.
In terms
of distribution channel, the market is segmented into online and offline.
Offline channel accounts for the largest market share of more than 72.0% in
2018. Developed countries have high number of fashion stores where the range of
products is well placed in iPads or interactive shelves as a part of the
customer engagement strategy.Eobuwie.pl owned by CCC, Central Europe’s largest
footwear retailer and the largest footwear manufacturer, created its own brand
concept store, which allows user to browse through almost 450 brands via
tablets at their fingertips. Online is anticipated to register the fastest CAGR
of 3.2% over the forecast period. Online shopping for footwear is less tedious
and attractive to consumers compared to the clothes shopping, as a result of
shoe size uniformity.
Europe is
estimated to be the largest regional segment accounting for approx. 31.0% of
the market share in 2018. U.K. alone accounted for approximately 13.0% of the
market share in the same year. In U.K., leather footwear accounts for 49.0% of
the total footwear market. Formal leather footwear perform well in the region
due to growing middle class, more women at work, increasing shopping centers,
and adoption of online purchase.
Asia
Pacific is projected to register the fastest CAGR of 5.1% from 2019 to 2025.
Factors such as growing economies, rising number of low-middle class, rapid
expansion of international footwear chains, and growing working class
population is expected to fuel the regional demand.
Key
players in this market are Prada Holding B.V.; LVMH; Allen Edmonds; Kering
S.A.; Bruno Magli; Cole Haan; Genesco Inc.; Hermès International S.A.;
Salvatore Ferragamo S.p.A.; and Crockett & Jones.
Request a free sample copy or view report summary: Leather Footwear Market Report
Leather Footwear Market
Report Highlights
·
Male end user segment accounted for the highest share of
approximately 55.0% in 2018
·
Offline based distribution channel accounts for the
largest share of more than 72.0% in 2018, omni-channel retailing and in-store
marketing solutions to enhance the shopping experience and to bridge the gap
between offline and digital channels
·
Some of the key players operating in the global leather
footwear market include are Prada Holding B.V., LVMH, Allen Edmonds, Kering
S.A., Bruno Magli, and Cole Haan
About Us:
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting services.
To help clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
Contact:
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Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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