Luxury Footwear Market Size, Industry Analysis Report By Product Type (Formal Shoe, Casual Shoe), By End User (Men, Women) & Region – Forecasts
- PUBLISHED ON
- 2024-10-03
- NO OF PAGES
- 240
- CATEGORY
- Retails & Consumer
It is estimated for the global luxury footwear market to witness growth at a CAGR of 7.7% during the forecast period of 2022 to 2030. The market witnessed growth at a CAGR of 6.3% during the previous forecast period of 2018 to 2021. Luxury Footwear includes leather footwear, athletic footwear and sneakers as well as textile footwear, sandals and other shoes. The segment of luxury footwear is often high priced owing to their higher resistance, better quality and higher customer satisfaction.
Global Luxury Footwear Market- Growth Factors
The growth in the appeal to look good and stylish to match the peers in the society is estimated to boost the growth of the market during the forecast period. Wearing luxury footwear is considered as a superiority statement and this factor is also considered to boost the growth of the market during the forecast period. Also, the durability of these luxury footwear is more compared to a majority of other footwear and this factor is estimated to boost the growth of the market during the forecast period. Apart from this, the increasing disposable income is also providing people with the luxury to opt for branded footwear and this factor is also estimated to boost the growth of the market during the forecast period. The influence on a larger segment of audience by the celebrities advertising for various brands of luxury footwear is also estimated to boost the growth of the market during the forecast period.
Global Luxury Footwear Market- Market Trends
• The growth in the appeal to look good and stylish to match the peers in the society is estimated to boost the growth of the market during the forecast period.
• Apart from this, the increasing disposable income is also providing people with the luxury to opt for branded footwear and this factor is also estimated to boost the growth of the market during the forecast period.
• The influence on a larger segment of audience by the celebrities advertising for various brands of luxury footwear is also estimated to boost the growth of the market during the forecast period.
Global Luxury Footwear Market – Segmentation
The global luxury footwear market is segmented on the basis of product type, end user type and distribution channel type.
Based on product type, the market is segmented into,
• Formal Shoe
• Casual Shoe
Based on the end user, the market is segmented into,
• Men
• Women
Based on the end user, the market is segmented into,
• Online Retail
• Offline Retail
Global Luxury Footwear Market – Regional Analysis
It is estimated for the region of US to drive the growth of the market during the forecast period. The growing in the technological advancements in the food sector in the region is estimated to foster the growth of the market during the forecast period. The region of Europe is estimated to witness growth at a healthy rate during the forecast period. The Asia Pacific region is also estimated to witness a notable growth rate in the market.
Global Luxury Footwear Market – Key Market players
LVMH, Chanel Limited; Burberry Group PLC; Silvano Lattanzi; Prada S.p.A; A.Testoni; Dr. Martens; Base London; John Lobb Bootmaker; Salvatore Ferragamo; Lottusse - Mallorca; and Adidas AG are the major players that are driving the growth of the market during the forecast period.
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
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The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
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