What is the global market size of Loafers Market?

Loafers Market size was valued at USD 27.23 billion in 2021 and is poised to grow from USD 27.99 billion in 2022 to USD 34.91 billion by 2030, growing at a CAGR of 2.8% in the forecast period (2023-2030).

Loafers Market Size, Share, Growth Analysis, By Type(Casual Loafers and Dress Loafers), By Distribution Channel(Offline Retail, and Online retail), By Region - Industry Forecast 2025-2032

Report ID: SQMIG30L2092 | Region: Global | Published Date: April, 2024
Pages: 198 | Tables: 60 | Figures: 75

Loafers Market Regional Insights

North America dominated the global market. The region has a strong presence of prominent footwear brands and a high demand for premium quality and designer loafers. Moreover, the growing trend of athleisure fashion has contributed to North America's casual loafers market growth.

The Asia-Pacific region is expected to grow at the fastest CAGR. The region's rising population, urbanization, and growing disposable income have increased the demand for footwear, including loafers. Additionally, the increasing trend of formal wear and the growing fashion-conscious population are driving the growth of the loafers market in the APAC region. Within the APAC region, China and India are the dominant markets, with a large population and a significant demand for footwear. Moreover, the increasing number of working professionals and the growing trend of western wear in these countries contribute to the loafers market growth.

Loafers Market Report Snapshots

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Loafers Market size was valued at USD 28.97 Billion in 2023 and is poised to grow from USD 29.98 Billion in 2024 to USD 36.38 Billion by 2032, growing at a CAGR of 3.5% during the forecast period (2025-2032).

The global loafers market is highly competitive, with several established and emerging players vying for market share. Companies are focusing on expanding their product portfolio, improving quality, and enhancing the customer experience to stay competitive. The market players are also adopting strategies such as mergers and acquisitions, partnerships, and collaborations to gain a competitive edge. In addition, companies are investing in technology and innovation to create new and unique designs to attract customers. The intense competition in the market is expected to drive innovation and increase product quality, benefiting customers. 'Gucci', 'Salvatore Ferragamo S.p.A.', 'Tods S.p.A.', 'Bally International AG', 'Prada S.p.A.', 'Cole Haan LLC', 'Clarks Shoes Limited', 'Rockport Group', 'Aldo Group Inc.', 'Church's Shoes Limited', 'Geox S.p.A.', 'Skechers U.S.A. Inc.', 'Steve Madden Ltd.', 'Nine West Holdings Inc.', 'Burberry Group plc', 'Dr. Martens Airwair USA LLC', 'The Aldo Group Inc.', 'Johnston & Murphy Group', 'Allen Edmonds Corporation', 'Rancourt & Co. Shoecrafters'

One major driver of the global loafers market is the increasing trend of casualization in the workplace and social settings. With more companies adopting business casual dress codes, the demand for comfortable and stylish footwear has increased. Loafers are a versatile option that can be dressed up or down, making them a popular choice among consumers. Additionally, the rise of athleisure fashion has contributed to the growth of the casual loafers market, as they offer a comfortable and stylish alternative to traditional athletic shoes.

One key market trend in the global loafers market is the growing demand for sustainable and eco-friendly footwear. With consumers becoming increasingly aware of the environmental impact of their purchases, there is a growing preference for products made from sustainable materials and produced using eco-friendly manufacturing processes. This trend has led to the emergence of new players in the market offering sustainable and eco-friendly loafers. Established players are also focusing on incorporating sustainable materials and processes in their production to cater to the growing demand and stay competitive in the market.

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Loafers Market Size, Share, Growth Analysis, By Type(Casual Loafers and Dress Loafers), By Distribution Channel(Offline Retail, and Online retail), By Region - Industry Forecast 2025-2032

Loafers Market Regional Insights

Loafers Market Report Snapshots

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