Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Leather Footwear market.
Trusted Business Insights presents an updated and comprehensive analysis of Leather Footwear Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Leather Footwear market during the forecast period (2021-2026).Our research analyst have analysed at the short-term stress in the industries subsectors as well as long-term impacts. Analyst have also examined the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Abstract, Snapshot, Market Analysis & Market Definition: Global Leather Footwear Market
The global Leather Footwear market size is projected to reach US$ 207.7 billion by 2026, from US$ 175.99 billion in 2020, at a CAGR of 2.8% during 2021-2026. The growth is attributed to the growing working class population, rising income among consumers, flourishing retail e-commerce sector worldwide, growing fashion trend in business wear. Leather shoes are durable and provides an elegant look making it popular among various consumers. The breathable features of real leather which cools down the feet and avoid unwanted odors is also driving the growth of the product in the market.
Leather footwear market is closely aligned with consumer spending on fashion accessories. Rapid growth in the spending on fashion accessories due to growing influence of social media is driving the market. Recent changes in consumer shopping trends and increasing propensity toward buying high-end and designer shoes are estimated to trigger the growth. Demand for trendy, fancy, and comfortable footwear is driving the demand.
Leather shoes are widely accepted as a premium product. Introduction of new products by numerous brands has been driving the market growth. High adoption of the products even in areas with relatively warmer climates is anticipated to drive the growth. As the demand for flexible and lightweight products is growing at a rapid rate, numerous innovations and technological advancements help surge the product demand. Leather footwear have high durability and stand strong even in heavy duty work along with casual, designer shoes and can be used for both indoor and outdoor applications, making it more popular among consumers.
Availability of counterfeit footwear made from synthetic leather developed by local manufactures is restraining the growth. Growing alternatives like synthetic and vegan leather are also likely to posing challenge for the growth. Leather footwear costs more on an average than any other type of footwear which act as a major restrain in the cost centric countries. Consumers sensitive to animal slaughtering and aware regarding animal ethics and rights are also hindering the growth.
Market Segmentation, Outlook & Viewpoint: Global Leather Footwear Market
End User Market Segmentation & Outlook (USD Million; 2014 – 2025)
Distribution Channel Market Segmentation & Outlook (USD Million; 2014 – 2025)
Key Players, Recent Developments & Regional Insights: Global Leather Footwear Market
Male accounted for the highest market share of about 56.0% in 2018 and is expected to be the fastest growing end user from 2019 to 2025. Growing awareness regarding physical appearance among men along with evolving fashion trends is also expected to drive the demand. Millennials and Generation Z are boosting the demand owing to increasing adoption of online purchasing of fashion accessories. Growing influence of advertising campaigns by big brands that feature popular male personalities is expected to result in an increasing product demand among the young generation. Tailor-made leather shoes is a trend expected to further fuel the growth.
Female accounts for approximately 37.0% of the market in 2018. The drop in purchase of heeled shoes is anticipated to affect the segment growth. Increasing number of working women is driving the demand for womens leather footwear. Rising spending on high ankle length shoes, reptile and animal skin, suede ballerinas, pumps, boots, casual town shoes, sandals, and flip-flops is driving the segment.
Distribution Channel Insights
Offline channel held the largest market share of more than 72.0% in 2018. Developed countries have high number of fashion stores where the range of products is well placed in iPads or interactive shelves as a part of the customer engagement strategy. Eobuwie.pl is owned by CCC, Central Europes largest footwear retailer and the largest footwear manufacturer, created its own brand concept store, which allows user to browse through almost 450 brands via tablets. Retailers have started opting for omni-channel retailing and in-store marketing solutions to enhance the shopping experience and to bridge the gap between offline and digital channels. Growing retailing stores such as hypermarkets, specialty stores, multi brand stores, international retail chains and malls is expected to boost the growth.
Online segment is anticipated to register the fastest CAGR of 3.2% during the forecast period. Shopping for footwear online is less tedious for consumers due to shoe size uniformity and availability of a wide range of products. Availability of discounts attract more consumers toward online purchase. Service offering such as easy return, exchange, and free shipping can boost the online sales.
Europe held the largest market share of 31.0% in 2018. High importance of footwear in European countries is anticipated to drive the growth. U.K. accounted for approximately 13.0% of the market share in 2018. In U.K., leather footwear accounts for 49.0% of the total footwear market. Formal shoes segment is anticipated to perform well in the region due to growing middle class, more women at work, increasing shopping centers, and easy online purchase.
Asia Pacific is the fastest growing market with a CAGR of 5.1% from 2019 to 2025. Factors such as growing economies, rising number of low-middle class, rapid expansion of international footwear chains, and growing working class population are expected to fuel the growth. High internet penetration and rapid rise in online sales are expected to further fuel the regional market. For men leather footwear formal shoes, ankle-high boots with slim lasts, sturdy lace-up boots, rounded Chelsea, and robust biker boots were the prominent products in the region.
Leather Footwear Market Share Insights
Key market players are Prada Holding B.V.; LVMH; Allen Edmonds; Kering S.A.; Bruno Magli; Cole Haan; Genesco Inc.; HermÃ¨s International S.A.; Salvatore Ferragamo S.p.A.; and Crockett & Jones. Manufacturers are investing heavily in product enhancement and innovation and setting up new trend to gain greater market share. Companies are launching shoes with more functions. For instance, brand Nat-2 has introduced a zipper feature which can turn shoe into sandal or flip flop.
Key Insights Covered: Global Leather Footwear Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Leather Footwear industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Leather Footwear industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Leather Footwear industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Leather Footwear industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Leather Footwear industry.
Research Methodology: Global Leather Footwear Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other
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