A Study of India's Footwear Market 2018
- Report Description Table of Contents
The footwear industry is one of the most rapidly expanding industries globally. Increasing demand for new and innovative footwear and emergence of various global as well as regional brands across segments in the category is primarily driving the market. Innovative and trendy footwear are being consistently manufactured by leading market players due to advancement in the footwear manufacturing process, technological innovations, and development of new material.
In 2017, the global footwear market size was approximately USD 246.07 billion. Growing at a CAGR of 4.5% in the period 2017-2023, the market is projected to reach USD 320.44 billion by the end of the forecast period.
India is globally the second largest footwear producer after China. India's footwear production accounts for approximately 9% of the global annual production of 22 billion pair as compared to China which produces over 60%. Key production centres in the country include Kanpur and Agra in Uttar Pradesh, Ranipet, Vaniyambadi and Ambur in Tamil Nadu. The sector is fragmented and close to 75% production comes from the unorganised sector including very small, small and medium enterprises.
Over the past decade, India has been witnessing a rising trend of consumer orientation towards health and wellness. The rapid urbanization is responsible for a hectic lifestyle which has led to rise in the incidence of lifestyle diseases. Voluntarily and mandated by their physicians, the consumers have become more health conscious and have imbibed various physical activities into their lifestyle. The incidence of indulging in sporting activities has also increased. This has led to an increase in spending on sportswear by the adult population in metro and larger cities in India. The coming up of international schools with state of the art sports infrastructure has led to greater consumption of sportswear by the school going population.
Why should the report be purchased?
The report Â‘A Study of India's Footwear Market 2018' highlights key dynamics of India's footwear market market. The growing opportunity in the sector has been investigated along with the market drivers. The initiatives and performance of key players including Bata, Paragon Group, Relaxo Footwears Limited, Liberty Shoes Limited, Nike, Inc., Adidas AG and Puma. has been examined. The current market scenario has also been studied. The report contains latest opinions of industry leaders.