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At a CAGR of 12.65%, India Footwear Market to Reach US$ 27.7 Billion by 2027 – World News Report

SHERIDAN, WY, UNITED STATES, November 15, 2022 /EINPresswire.com/ — According to the latest report by IMARC Group, titled “India Footwear Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the India footwear market size reached US$ 13.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 27.7 Billion by 2027, exhibiting a growth rate (CAGR) of 12.65% during 2022-2027.

Footwear is worn as the outer coverings for feet to provide comfort and protection. Their use aids in protecting the feet from injuries and facilitating easy movement. They are generally made from numerous materials, including jute, fabric, leather, plastic and rubber. Commonly available in diverse patterns and colors with unique designs and advanced technical fabrications, they offer optimum support to the feet for athletic and non-athletic purposes. Good quality footwear is widely in demand as they offer enhanced convenience and comfort while attributing an attractive fashion style to the wearers.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Market Trends:

The market in India is primarily driven by the increasing demand for fashionable apparel across the country. With rapid urbanization and the inflating per capita income levels of the masses, there has been a rising demand for good-quality footwear that offer improved comfort. This is further supported by the rising popularity of fast fashion and the continually evolving fashion trends across the country.

The market is also driven by the introduction of eco-friendly footwear in the market that are manufactured using sustainable raw materials, such as hay, organic cotton, recycled carpet padding, recycled car tires, and vegetable-dyed leather. Apart from this, easy product availability through online organized retail channels that provide ease of convenience to the users via flexible payment methods and hassle-free return/exchange policies is also creating a positive outlook for the market. Some of the other factors contributing to the market growth include the launch of smart shoes and the growing adoption of social media advertising by numerous vendors.

Key Market Segmentation:

Based On Product:

Non-Athletic Footwear
Athletic Footwear

Based On Material:

Rubber
Leather
Plastic
Fabric
Others

Based On Distribution Channel:

Footwear Specialists
Online Sales
Supermarkets and Hypermarkets
Departmental Stores
Clothing Stores
Others

Based On Pricing:

Premium
Mass

Based On End User:

Men
Women
Kids

Based On Region:

North India
West and Central India
South India
East India

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Key highlights of the report:                                                           

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us: 

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Elena Anderson
IMARC Services Private Limited
+ 16317911145
email us here




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