Innovative and trendy footwear is 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. 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
With the expanding market, the needs of the consumers are also fast changing. Rapid urbanization, higher disposable incomes and greater penetration of media have led to changing fashion needs of the consumers. The footwear industry in India is highly labour intensive and currently employs close to three million people. Out of this, almost 30% are women. As per a report released by the Department of Industrial Policy and Promotion, the sector has the capacity to generate 250 jobs for every investment of INR 1 crore. People are demanding more and more designs and variations in footwear. Bespoke footwear is a fast emerging category and the number of footwear designers is increasing in the country. While online sales of footwear have increased manifold over the past five years, players are convinced that brick and mortar stores in the category play a strong role.
Why should the report be purchased?
The report ‘A Study of India's Footwear Market 2019’ highlights the key dynamics of India’s footwear market. The growing opportunity in the sector has been investigated along with the market drivers. The initiatives and performance of key players including Bata, Future 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 the latest opinions of industry leaders.
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