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GCC Footwear Market to Reach US$ 5.6 Billion by 2027, Propelled by Introduction of Innovative Product Variants

Published on Sep 26, 2022

The latest report by IMARC, titled “GCC Footwear Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that GCC footwear market size reached US$ 4.3 Billion in 2021. Footwear refers to apparel used to cover and protect the feet from temperatures, ground textures, and gravel roads. It is manufactured from numerous materials, including plastic, rubber, leather, jute, wood, canvas, and fabric. Footwear also facilitates locomotion and assists in preventing injuries. It is either machine or hand-made and is available for athletic and non-athletic purposes. In recent years, the demand for footwear has gained momentum as it has evolved as a symbol of luxury and class.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect effect of the associated industries. These observations will be integrated into the market.

GCC Footwear Market Trends:

One of the primary factors driving the market is the establishment of various luxury footwear brands in the GCC region. Additionally, the increasing interest of individuals in sports, along with their rising inclination toward athletic and physical activities, including jogging, is creating a positive market outlook. Other than this, the promotion of premium footwear on various social media platforms has led to a significant boost in demand for footwear. In line with this, the growing health consciousness among the masses is encouraging key players to manufacture sports-focused footwear, such as cricket, football, basketball, and golf. Furthermore, market players are extensively investing in research and development (R&D) activities to launch innovative product variants. Moreover, the expansion of smartphones, easy internet connectivity, and the rising number of e-commerce platforms have enabled the leading companies to offer convenient services, such as flexible payment methods, exchange or return options, and monetary benefits, which are contributing to the market growth. Looking forward, IMARC Group expects the market size to reach US$ 5.6 Billion by 2027, expanding at a CAGR of 4.27% during the forecast period (2022-2027).

Market Summary:

  • Based on the product, the market has been bifurcated into non-athletic and athletic footwear.
  • On the basis of the material, the market has been divided into rubber, leather, plastic, fabric, and others.
  • Based on the distribution channel, the market has been segmented into footwear specialists, supermarkets and hypermarkets, departmental stores, clothing stores, online sales, and others.
  • On the basis of the pricing, the market has been segregated into premium and mass.
  • Based on the end user, the market has been categorized into men, women, and kids.
  • Region-wise, the market has been classified into Saudi Arabia, UAE, Qatar, Oman, Kuwait, and Bahrain.
  • The competitive landscape of the market has also been analyzed, along with detailed profiles of the key players operating in the industry.
     

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