Indian Footwear Market

Indian Footwear Market Size, Share, Growth Analysis, By Type(Casual, Mass, Active/Sport, Leather), By Sales Channel(Online, and Offline), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25L2018 | Region: Global | Published Date: May, 2024
Pages: 219 | Tables: 64 | Figures: 73

Indian Footwear Market Dynamics

Drivers

Rising Disposable Income

  • The disposable income of people in India is increasing rapidly as people are earning more from their primary and secondary income sources. This increased income is being used to improve people’s lifestyles and thereby promoting sales of footwear and other products in India.

Rapid Urbanization

  • Urbanization is a key trend that is estimated to bolster the demand for footwear in India over the coming years. As urbanization increases it also affects consumer preferences and purchasing power, which in turn, favors sales of footwear products as well.

Restraints

Counterfeit Products

  • The abundance of imitation and counterfeit footwear products in India is a key constraint for the overall Indian footwear market growth as this hurts the brand image of genuine footwear companies and also hurts their sales.

Price Sensitivity

  • The Indian footwear market is highly sensitive to pricing and price changes as more people that purchase products belong to middle or lower income classes. These people are very particular about pricing of their products and this is why price sensitivity sometimes hurts the profits of footwear providers.
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FAQs

Indian Footwear Market size was valued at USD 15.1 billion in 2022 and is poised to grow from USD 17.05 billion in 2023 to USD 45 billion by 2031, growing at a CAGR of 12.9% in the forecast period (2024-2031).

Leading Indian footwear providers can focus on the development and launch of new products with better designs that are also affordable for the Indian consumer base. Companies can also experiment with organic and inorganic marketing strategies to improve their sales and revenue generation potential in the future. Indian footwear brands can also partner and collaborate with international brands to create innovative new limited edition products that will help them stand out from the competition. 'Bata', 'DSK Leather Works', 'Metro', 'Ajanta', 'Condor Footwear', 'Days Footwear', 'Khadims', 'Paragon', 'Action', 'Sreeleather', 'Liberty', 'Catwalk', 'MACRO FOOTWEAR', 'Lallan Shoes', 'Carbon Footwear', 'Mochi', 'Relaxo', 'Shoe Art India'

The disposable income of people in India is increasing rapidly as people are earning more from their primary and secondary income sources. This increased income is being used to improve people’s lifestyles and thereby promoting sales of footwear and other products in India.

Shift Towards Online Sales Channel: Indian footwear companies should focus on maximizing their sales via online channels as digitization picks up pace in India. Indian footwear market players should also focus on increasing their product availability on different online marketplaces other than their own websites to capture the full potential of online retail channels.

South India is projected to account for a dominant share of the Indian footwear marketplace. The presence of key footwear production facilities in this region is what allows it to hold a dominant stance in the Indian footwear market. Rising awareness regarding fitness and changing consumer preferences of people in this region are also contributing to the growing sales of footwear. Tamil Nadu is the leading producer of footwear in this region with Chennai and Ambur being the top footwear-producing cities in this South Indian state.

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Indian Footwear Market

Report ID: SQMIG25L2018

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