Luxury Footwear Market Size, Share, Trends, Report 2023-2028

Luxury Footwear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A3641

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Market Overview 2023-2028:

The global luxury footwear market is expected to exhibit a growth rate (CAGR) of 4.4% during 2023-2028.

Luxury footwear is manufactured using premium quality materials. It can be differentiated from its affordable counterparts in terms of durability, uniqueness and comfort. It is not mass-produced, which makes it exclusive, expensive and difficult to find in the market. At present, improving living standards and inflating disposable incomes are escalating the demand for luxury footwear around the world.

Luxury Footwear Market Trends:

Rapid urbanization, in confluence with the rising influence of social media and the thriving fashion industry, represents one of the primary factors impelling the global luxury footwear market growth. Moreover, the growing preference for high-end fashion brands as a status symbol is also positively influencing the sales of handcrafted luxury footwear. Additionally, several leading brands are introducing a wide product range to expand their existing consumer base. In line with this, they are entering into strategic partnerships and alliances with various manufacturers to offer customized formal luxury footwear with a wide range of selections in material, design, color, and size. Apart from this, due to the sudden spread of the coronavirus disease (COVID-19) and the implementation of lockdown restrictions, leading players are shifting their focus from offline distribution channels to online platforms. Furthermore, increasing awareness about the environmental impact of footwear is encouraging manufacturers to adopt sustainable materials to develop ecological and sustainable luxury footwear. Such innovations, along with aggressive promotional activities, are anticipated to strengthen the growth of the market in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global luxury footwear market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, end user and distribution channel.

Breakup by Product:

Formal Shoes
Casual Shoes

Breakup by End User:

Men
Women
Children

Breakup by Distribution Channel:

Online
Offline

Breakup by Region:

North America
- United States
- Canada
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being A.Testoni (Sitoy Group Holdings Ltd), Adidas AG, Base London, Burberry, Chanel S.A. (CHANEL International B.V.), Dr. Martens (Airwair Group Limited), Hermès International S.A., Lottusse - Mallorca, LVMH Moët Hennessy - Louis Vuitton, Prada S.p.A (LUDO srl), Salvatore Ferragamo S.P.A. and Silvano Lattanzi srl.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Product, End User, Distribution Channel, Region
Region Covered	North America, Asia Pacific, Europe, Latin America, Middle East and Africa
Countries Covered	United States, Canada, China, Japan, India, South Korea, Australia, Indonesia, Germany, France, United Kingdom, Italy, Spain, Russia, Brazil, Mexico
Companies Covered	A.Testoni (Sitoy Group Holdings Ltd), Adidas AG, Base London, Burberry, Chanel S.A. (CHANEL International B.V.), Dr. Martens (Airwair Group Limited), Hermès International S.A., Lottusse - Mallorca, LVMH Moët Hennessy - Louis Vuitton, Prada S.p.A (LUDO srl), Salvatore Ferragamo S.P.A. and Silvano Lattanzi srl
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

We expect the global luxury footwear market to exhibit a CAGR of 4.4% during 2023-2028.

The improving consumer living standards, along with the rising adoption of social media platforms for introducing high-end products, are primarily driving the global luxury footwear market.

The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of luxury footwear.

Based on the product, the global luxury footwear market can be segmented into formal shoes and casual shoes. Currently, formal shoes hold the majority of the total market share.

Based on the end user, the global luxury footwear market has been segregated into men, women, and children. Among these, women currently account for the largest market share.

Based on the distribution channel, the global luxury footwear market can be categorized into online and offline. Currently, offline channel exhibits a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.

Some of the major players in the global luxury footwear market include A.Testoni (Sitoy Group Holdings Ltd), Adidas AG, Base London, Burberry, Chanel S.A. (CHANEL International B.V.), Dr. Martens (Airwair Group Limited), Hermès International S.A., Lottusse - Mallorca, LVMH Moët Hennessy - Louis Vuitton, Prada S.p.A (LUDO srl), Salvatore Ferragamo S.P.A., and Silvano Lattanzi srl.

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