India Footwear Market was valued US$ 16.51 Bn in 2017 and is forecasted to reach US$ 33.7 Bn by 2026 during the Forecast period. India footwear market is segmented by product, by end user and by mode of sale. Casual, mass, active/sport, leather and non-leather are product segment of India footwear market. Based on mode of sale, India footwear market is classified into online and offline. Men’s, women’s and kids are end user segment of India footwear market. India is the second largest footwear producer in the world.
Changing buying nature and enhanced demand from the existing drives the India footwear market. Rising disposable incomes and new entrants into workforce is propelling the market growth. Rising fitness and fashion trend has greatly influenced footwear styling and growth. Consumers are widely using sneakers and flat shoes for regular wear due to the comfort factor concerned with these products.
Buying shoes for special occasions started becoming a norm. Casual segment holds 70 % share of the Indian footwear market. While Mass followed the casual segment. Retail segment grew at an average of 16-18 % in terms of number of outlets and retail space with same outlet growth being around 25 per cent. Increased penetration of digital technologies and smartphones has brought instant awareness for Indian consumers about the latest global trends.
Online channel is increasing its footprint in the Indian footwear market. Internet retailing is growing mainly due to Indian consumers’ changing shopping behaviour. However consumers were sceptical of buying footwear online without physically checking the product thereby hindering the online sales growth. Men’s segment is growing at a CAGR of 10 %. Men’s segment accounted for around 60 % of sales in the footwear segment as against women’s share of 30%.
Women are pushing the domestic demand on the upside, however, is growing at a much faster CAGR of 20 %. Women’s segment is benefited owing to shift to branded offerings. Bata, Metro, Liberty, Ajanta, Khadims, Paragon, Action, Sreeleather, Catwalk and Mochi are key player of Indian Footwear market. Indian Footwear market is held by Adidas, Nike, Puma, Lotto, Reebok, and expectation of the newer entrants ASICS, Sketchers, Crocs, Salomon and many more has begun to pose challenges.
Scope of the India Footwear Market
India Footwear Market, by Product:
• Casual
• Mass
• Active/Sport
• Leather
• Non-Leather
India Footwear Market, by Mode of Sale:
• Online
• Offline
India Footwear Market, by End User:
• Women
• Men
• Kid
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