The Luxury Footwear Market is Segmented by Product Type (Formal Shoes, Casual Shoes), by End-Use Type (Men, Women, and Children), by Distribution Channel Type (Offline, Online), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
The Luxury Footwear Market is Segmented by Product Type (Formal Shoes, Casual Shoes), by End-Use Type (Men, Women, and Children), by Distribution Channel Type (Offline, Online), and by Region ...
The Luxury Footwear market is projected to grow from USD 35.1 billion in 2021 to USD 51.25 billion by 2028 at a CAGR of over 5.49 % during the forecast period of 2022-2028.
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Drivers
The growth of the Luxury Footwear market is primarily driven by:
Customization is also available in luxury footwear in different textiles, and styles to make them comfortable, and lightweight as per customer preference which increases the demand in the market.
Luxury and unique products are the first choices of every millionaire and luxury footwear is one of them.
Luxury cars, watches, houses, and clothes are the ways to show one’s richness and are the status symbols for millionaires. Luxury footwear is no exception. The demand for luxury footwear is directly associated with the increase of millionaires across the globe. Luxury footwear showcases one’s standard of living and provides unique footwear of different designs to showcase elegance with causal shoes to professionalism with formal shoes.
Luxury Footwear Market Features
Market Size in 2028
USD 51.25 billion
Market Size in 2021
USD 35.1 billion
Market Growth (2022-2028)
CAGR of 5.49 %
Base Year of Study
2021
Trend Period
2017-2020
Forecast Period
2022-2028
Segments Covered
By Product Type (Formal Shoes, Casual Shoes), by End-Use Type (Men, Women, and Children),
By Distribution Channel Type (Offline, Online)
By Region (North America, Europe, Asia-Pacific, and Rest of the World)
Dominant Region
North America held a share of more than 30% in 2021.
The market is segmented into formal shoes and casual shoes. Formal shoe luxury footwear held a share of more than 57% in 2021. The casual shoe segment is anticipated to be the fastest-growing segment with a CAGR of nearly 5.6% during the forecast period. Formal shoes are the first choice in corporate and workplace as they reflect one’s professionalism.
By End-Use Type
The market is segmented into men, women, and children. The women’s segment dominates the market, as there is a significant increase of working women worldwide. According to research by the European Union there, almost 50% workforce are women. Further, the men’s segment is likely to have the fastest growth during the forecast year.
By Distribution Channel Type
The market is segmented as online and offline. Offline distribution channels held a share of more than 75% in 2021. Whereas the online segment is estimated to have faster growth over the forecast year. The growing popularity of e-commerce websites such as amazon.com and timesaving in online shopping is propelling growth during the forecast period.
By Region
North America held a share of more than 30% in 2021 and is estimated to be the largest as well as the fastest-growing luxury footwear market during the forecast period, followed by Europe and Asia Pacific. The growth of the market is driven by the presence of top millionaires with large disposal money, which is generating huge demand for luxury footwear and the presence of many luxury footwear manufacturers in North America and Europe.
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Segmentation
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The luxury footwear market is segmented into the following categories.
By Product Type:
Formal Shoes
Casual Shoes
By End-Use Type:
Men
Women
Children
By Distribution Channel Type:
Offline
Online
By Region:
North America (Country Analysis: the USA, Canada, and Mexico)
Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
Report – Features
Market Segmentation
4
Regions Covered
4
Countries/Sub-Regions Covered
17
No. of Figures & Tables
>150
Company Profiles
10
The following are the key features of the report:
Overview, industry life cycle analysis, supply chain analysis.
Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
Trend and forecast analysis.
Segment trend and forecast.
Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
Attractive market segments and associated growth opportunities.
Emerging trends.
Strategic growth opportunities for the existing and new players.
Key success factors.
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 10 detailed primary interviews with companies across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
Target Audience
The target audience of the Luxury Footwear market includes-
Luxury Footwear companies
Luxury Footwear distributors
Government organizations
COVID-19 Impact on Luxury Footwear Market
The COVID-19 pandemic has radically altered people's daily lives, workplaces, and the surrounding environment. According to the market forecast for building information modelling, the current estimate for 2027 is expected to be higher than pre-COVID-19 estimates. The COVID-19 outbreak has had little impact on the growth of the Luxury Footwear market because the COVID-19 lockdown enabled the widespread adoption of Luxury Footwear. The pandemic has compelled the development of safer and more efficient methods of constructing offices and homes.
Critical Questions Answered in the Report
What are the key trends in the market?
How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
What is the impact of COVID-19 on the market?
What are the key strategies adopted by the major vendors to lead in the market?
What is the market share of the top vendors?
Customization Options
Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to 3 players)
SWOT analysis of key players (up to 3 players)
Market Segmentation
Current market segmentation of any one of the product types by end-use type.
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.
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Luxury cars, watches, houses, and clothes are the ways to show one’s richness and are the status symbols for millionaires. Luxury footwear is no exception. The demand for luxury footwear is directly associated with the increase of millionaires across the globe. Luxury footwear showcases one’s standard of living and provides unique footwear of different designs to showcase elegance with causal shoes to professionalism with formal shoes.
LVMH; Chanel S.A.; Burberry; Silvano Lattanzi; Prada S.p.A; A.Testoni; Dr. Martens; Base London; John Lobb Bootmaker; Salvatore Ferragamo; Lottusse - Mallorca; Adidas AG are among the key players in the market.
• Customization is also available in luxury footwear in different textiles, and styles to make them comfortable, and lightweight as per customer preference which increases the demand in the market.
• Luxury and unique products are the first choices of every millionaire and luxury footwear is one of them.