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 2024-2031

Global Loafers Market size was valued at USD 27.99 billion in 2022 and is poised to grow from USD 28.97 billion in 2023 to USD 35.15 billion by 2031, growing at a CAGR of 3.5% during the forecast period (2024-2031).

The utility of loafers is being promoted by growing middle-aged working population demanding fashionable and comfortable footwear. Different age groups view loafers as convenient and comfortable shoes because they are easier to put on and take off and have a heel that is not overly fitted. Millennials and Generation X favor buying stylish, plush, and expensive shoes. Leather shoes are widely regarded as a high-end product and account for a sizable portion of the market. The growing demand for fashionable and comfortable footwear among middle-aged working people and the rise in disposable income are also anticipated to significantly impact the market growth. Additionally, one of the key factors anticipated to propel the growth of the market during the forecast period is the rise in product manufacturing and exports. Increasing demand for comfortable and stylish footwear among the working population, especially in the Asia-Pacific region, is driving the growth of the market.

US Loafers Market  is poised to grow at a sustainable CAGR for the next forecast year.