India Footwear Market overview
The India footwear market is estimated to register sound growth in the coming years underpinned by various growing factors such as rising disposable incomes, increased focus on personal grooming & fashion sense, changing lifestyles, and preference for branded products among many others. India has become one of the major players in global footwear exports owing to its large population base and growing demand from developed countries such as the US and Europe.
According to 6Wresearch, the India Footwear Market size is anticipated to gain momentum during the forecast period 2023-2029. The market growth is driven by various factors such as the expansion of e-commerce platforms has made it easier for consumers to access a spectrum range of footwear available with heavy discounts.
COVID-19 Influence on the India Footwear Market:
The pandemic had affected the India Footwear Market which is a part of the Asia Pacific Footwear Market. With the complete lockdown in the country, all the footwear outlets were closed coupled with people's spending was reduced on non-essential items, including footwear. Supply chain disruption caused by the pandemic resulted in a slowdown in the manufacturing process, which led to a decline in market shares and revenues.
Challenges of the India Footwear Market :
Unorganized Sector: A significant portion of the Indian footwear market is still unorganized, with small, local manufacturers and sellers. This can lead to issues like quality variations and unfair labor practices.
Price Sensitivity: Many Indian consumers are highly price-sensitive. This can make it challenging for brands to maintain healthy profit margins, especially with intense competition.
Infrastructure and Logistics: India faces infrastructure and logistics challenges, which can affect the timely delivery of products and increase operating costs for businesses.
Counterfeiting: The market is plagued by counterfeit products, which not only hurts legitimate businesses but also affects consumer trust.
Environmental Concerns: Growing awareness of environmental issues has made consumers more conscious of sustainable and eco-friendly products. Footwear manufacturers face challenges in meeting these demands.
Key Players:
The Indian footwear market has several key players, ranging from domestic brands to international giants. Here are some of the prominent companies in the Indian footwear industry:
- 1. Bata India Ltd
- 2. Relaxo Footwears Ltd
- 3. Liberty Shoes
- 4. Woodland
- 5. Adidas
- 6. Puma
- 7. Nike
Key attractiveness of the report:
- Base Year: 2022.
- COVID-19 Impact on the Market.
- Forecast Data until 2029.
- 10 Years Market Numbers.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
- Historical Data Starting from 2019 to 2022.
Key Highlights of the Report:
- India Footwear Market Outlook
- India Footwear Industry Life Cycle
- Market Size of India Footwear Market, 2022
- Historical Data and Forecast of India Footwear Market Revenues & Volume By Non-Athletic for the Period 2019 - 2029
- Historical Data and Forecast of India Footwear Market Revenues & Volume By Material for the Period 2019 - 2029
- Forecast of India Footwear Market, 2029
- Historical Data and Forecast of India Footwear Revenues & Volume for the Period 2019 - 2029
- India Footwear Market Trend Evolution
- India Footwear Market Drivers and Challenges
- Historical Data and Forecast of India Footwear Market Revenues & Volume By Type for the Period 2019 - 2029
- India Footwear Porter's Five Forces
- Historical Data and Forecast of India Footwear Market Revenues & Volume By Athletic for the Period 2019 - 2029
- India Footwear Price Trends
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