India Footwear Market (2023-2029) | Industry, Revenue, Value, Size, Share, Growth, Analysis, Companies, Trends, COVID-19 IMPACT, Forecast & Outlook

Topics Covered in the India Footwear Market

India Footwear Market report thoroughly covers the market by type and by material. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

India Footwear Market Synopsis

The India footwear market is estimated to register sound growth in the coming years underpinned by various growing factors such as rising disposable incomes, increased focus on personal grooming & fashion sense, changing lifestyles, and preference for branded products among many others. India has become one of the major players in global footwear exports owing to its large population base and growing demand from developed countries such as the US and Europe. The availability of stylish designs and the increasing number of distribution channels are some key drivers that have boosted the growth of the footwear industry in India over the years.

According to 6Wresearch, the India Footwear Market size is anticipated to rise at a CAGR of around 12.5% during the forecast period 2023-2029. The market growth is driven by various factors such as the expansion of e-commerce platforms has made it easier for consumers to access a spectrum range of footwear available with heavy discounts. The proliferation of retail chains and branded footwear outlets in the country provides wider options with enhanced shopping experience. People are participating actively in sports and fitness activities has resulted in an increased demand for athletic footwear, leading to a massive surge in the footwear industry in India in 2023. With ageing, people face foot issues, this has boosted comfortable and orthopaedic footwear demand. Shoe customization and personalization have surged the market scalability on the back of changing customer preferences.

COVID-19 Influence on the India Footwear Market

The pandemic had affected the India Footwear Market which is a part of the Asia Pacific Footwear Market. With the complete lockdown in the country, all the footwear outlets were closed coupled with people's spending was reduced on non-essential items, including footwear. Supply chain disruption caused by the pandemic resulted in a slowdown in the manufacturing process, which led to a decline in market shares and revenues.

Leading Players of the Market

Some of the most significant key players in Indian Footwaer Market are Bata India Ltd., Relaxo Footwears Ltd., Liberty Shoes Ltd., Adidas India Pvt., Puma Sports India Pvt. Ltd., Woodland Worldwide, Metro Brands Ltd., Skechers South Asia Pvt. Ltd., Crocs India Pvt. Ltd., Red Chief Shoes, Action Shoes, and Paragon Footwear Pvt. Ltd. These key players have been playing a key role in the success of this market. These players are contributing to the diversity as well as competitiveness of the market.

Government Initiatives Introduced in the India Footwear Market

India footwear market share is estimated to be segmented over the years in the country with some government-launched policies and schemes. One of the significant policies is the "Make in India" campaign, which aims to encourage domestic manufacturing and generate employment opportunities. Additionally, The NLDP (National Leather Development Program) is a scheme, that aims to increase the competition of the Indian leather and footwear industry. It offers financial assistance for certain activities, including modernization, and market promotion. Goods and Services Tax (GST) has simplified the taxation system in the country, by replacing the multiple taxes with a single nationwide tax. Which is known to reduce the tax complexities for industries and businesses.

Market Analysis by Type

According to Nitesh Kumar, Research Manager, 6Wresearch, Athletic and Non-Athletic segments are witnessing high product sales, as both are purchased depending on the purpose. Athletics ratios are increasing in the country driving the athletic footwear demand.

Market Analysis by Material

Based on the materials, all the segments are gaining traction in the country, including Leather, Rubber, and Plastics, as their demand is influenced by several factors such as fashion trends and changing lifestyle needs.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• India Footwear Market Outlook
• Market Size of India Footwear Market, 2022
• Forecast of India Footwear Market, 2029
• Historical Data and Forecast of India Footwear Revenues & Volume for the Period 2019 - 2029
• India Footwear Market Trend Evolution
• India Footwear Market Drivers and Challenges
• India Footwear Price Trends
• India Footwear Porter's Five Forces
• India Footwear Industry Life Cycle
• Historical Data and Forecast of India Footwear Market Revenues & Volume By Type for the Period 2019 - 2029
• Historical Data and Forecast of India Footwear Market Revenues & Volume By Athletic for the Period 2019 - 2029
• Historical Data and Forecast of India Footwear Market Revenues & Volume By Non-Athletic for the Period 2019 - 2029
• Historical Data and Forecast of India Footwear Market Revenues & Volume By Material for the Period 2019 - 2029
• Historical Data and Forecast of India Footwear Market Revenues & Volume By Lather for the Period 2019 - 2029
• Historical Data and Forecast of India Footwear Market Revenues & Volume By Rubber for the Period 2019 - 2029
• Historical Data and Forecast of India Footwear Market Revenues & Volume By Plastic for the Period 2019 - 2029
• India Footwear Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Material
• India Footwear Top Companies Market Share
• India Footwear Competitive Benchmarking By Technical and Operational Parameters
• India Footwear Company Profiles
• India Footwear Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Type

• Athletic
• Non-Athletic

By Material

• Lather
• Rubber
• Plastic

Frequently Asked Questions About the Market Study (FAQs):