India Footwear Market
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- Published date: June 30, 2020
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- Pune, Maharashtra, India
was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a CAGR of XX % during a forecast period. India is the second largest footwear producer in the world. Changing buying nature and enhanced demand from the existing drives the India footwear market. Rising disposable incomes and new entrants into workforce are propelling the market growth. Rising fitness and fashion trend has greatly influenced footwear styling and growth. Consumers are widely using sneakers and flat shoes for regular wear due to the comfort factor concerned with these products. Based on the product, the Indian footwear market is segmented into Casual, mass, active/sport, leather and non-leather. Buying shoes for special occasions started becoming a fashion. The casual segment is expected to grow at the CAGR of XX% in the Indian footwear market during the forecast period. Based on the mode of sale, Retail segment is expected to grow at the CAGR of XX% during the forecast period. Increased penetration of digital technologies and smartphones has brought instant awareness for Indian consumers about the latest global trends. Online channel is increasing its footprint in the Indian footwear market. Internet retailing is growing mainly due to Indian consumers changing shopping behavior. However consumers were sceptical of buying footwear online without physically checking the product thereby hindering the online sales growth.
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