Men Formal Shoe Market Report by Shoe Type (Oxford Shoe, Derby Shoe, Loafer Shoe, Boots Shoe, and Others), Leather Type (Patent Leather, Pebble and Full Grain Leather, Top Grain Leather, Suede Leather), and Region 2024-2032

Men Formal Shoe Market Report by Shoe Type (Oxford Shoe, Derby Shoe, Loafer Shoe, Boots Shoe, and Others), Leather Type (Patent Leather, Pebble and Full Grain Leather, Top Grain Leather, Suede Leather), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A6897
Buy Now

Market Overview:

The global men formal shoe market size reached US$ 10.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 16.9 Billion by 2032, exhibiting a growth rate (CAGR) of 5.45% during 2024-2032. Continual product innovations in design and features, easy product availability across online and offline organized retail channels and inflating disposable income levels of the masses represent some of the key factors driving the market.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 10.3 Billion
Market Forecast in 2032
US$ 16.9 Billion
Market Growth Rate 2024-2032 5.45%


Formal shoes refer to a specific class of shoes that are worn in offices and social occasions. These shoes are usually black or brown colored and are worn to give a formal look to the whole attire. Men formal shoes are majorly made of cowhide, although other leather variants, such as artificial leather and grained leather, are also used. Formal shoes are designed to be extremely comfortable for the feet while providing a decent design articulation even in casual looks. They are worn in various occasions, such as formal meetings, dance floors, dress coded parties, and special occasions. Compared to their casual counterparts, men formal shoes have several advantages, including distinctive appearance, better finishing, and enhanced durability. Rapid urbanization, particularly in emerging economies, leading to the augmenting demand for formal shoes from new and established brands is creating lucrative growth opportunities in the market.

Men Formal Shoe Market Trends:

The global market is primarily driven by the escalating demand for premium and branded footwear, especially among the male population. This can be attributed to the growing commercialization of numerous types of men formal apparel and the advent of shifting fashion trends. In addition to this, continual product innovations in design and features, such as fusion looks, waterproofing, and unique stitch and cut patterns on shoes are impacting the market positively. Also, considerable growth in the corporate sector is leading to the augmenting number of corporate employees, thereby resulting in a higher product uptake among the masses. In line with this, the easy product availability across organized retail channels is acting as a significant growth-inducing factor for the market. Besides this, the shifting consumer preference toward online shopping due to the convenience and the availability of foreign brands, discounts, and virtual trial rooms are resulting in higher product sales. The market is further propelled by numerous strategies adopted by various key market players, such as new product launches, collaboration and partnerships, and mergers and acquisitions (M&As), to enhance their geographical presence. Apart from this, the growing apparel industry is resulting in the expansion of product warehousing and supply chain, which, in turn, is fueling the market growth. Some of the other factors contributing to the market include rapid industrialization, inflating disposable income levels, shifting lifestyle patterns of the consumers and extensive research and development (R&D) activities.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global men formal shoe market, along with forecasts at the global, regional, and country level from 2024-2032. Our report has categorized the market based on shoe type and leather type.

Shoe Type Insights

  • Oxford Shoe
  • Derby Shoe
  • Loafer Shoe
  • Boots Shoe
  • Others
     

The report has provided a detailed breakup and analysis of the men formal shoe market based on the shoe type. This includes oxford shoe, derby shoe, loafer shoe, boots shoe and others. According to the report, oxford shoe represented the largest segment.

Leather Type Insights

  • Patent Leather
  • Pebble and Full Grain Leather
  • Top Grain Leather 
  • Suede Leather
     

A detailed breakup and analysis of the men formal shoe market based on the leather type has also been provided in the report. This includes patent leather, pebble and full grain leather, top grain leather, and suede leather. According to the report, patent leather accounted for the largest market share.

Regional Insights

  • 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
     

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, Europe was the largest market for men formal shoe. Some of the factors driving the Europe men formal shoe market include a considerable rise in the ageing population, continual technological advancements, shifting consumer preference towards online shopping, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global men formal shoe market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Alden Shoe Company, Allen Edmonds Corporation (Caleres Inc.), Bruno Magli S.p.A. (Marquee Brands), Burberry Group Plc, C. & J. Clark International Ltd. (C&J Clark (Holdings) Limited), Calvin Klein Inc. (PVH Corp.), Cole Haan, Dolce & Gabbana S.r.l., Genesco Inc., Guccio Gucci S.p.A (Kering Holland NV), Hugo Boss AG, LVMH Moët Hennessy Louis Vuitton, Prada S.p.A., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Shoe Types Covered Oxford Shoe, Derby Shoe, Loafer Shoe, Boots Shoe, Others
Leather Types Covered Patent Leather, Pebble and Full Grain Leather, Top Grain Leather, Suede Leather
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Alden Shoe Company, Allen Edmonds Corporation (Caleres Inc.), Bruno Magli S.p.A. (Marquee Brands), Burberry Group Plc, C. & J. Clark International Ltd. (C&J Clark (Holdings) Limited), Calvin Klein Inc. (PVH Corp.), Cole Haan, Dolce & Gabbana S.r.l., Genesco Inc., Guccio Gucci S.p.A (Kering Holland NV), Hugo Boss AG, LVMH Moët Hennessy Louis Vuitton, Prada S.p.A., etc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
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:

  • How has the global men formal shoe market performed so far and how will it perform in the coming years?
  • What are the drivers, restraints, and opportunities in the global men formal shoe market?
  • What are the key regional markets?
  • Which countries represent the most attractive men formal shoe markets?
  • What is the breakup of the market based on the shoe type?
  • What is the breakup of the market based on the leather type?
  • What is the competitive structure of the global men formal shoe market?
  • Who are the key players/companies in the global men formal shoe market?

Key Benefits for Stakeholders:

  • IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the men formal shoe market from 2018-2032.
  • The research study provides the latest information on the market drivers, challenges, and opportunities in the global men formal shoe market.
  • The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
  • Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the men formal shoe industry and its attractiveness.
  • Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Men Formal Shoe Market Report by Shoe Type (Oxford Shoe, Derby Shoe, Loafer Shoe, Boots Shoe, and Others), Leather Type (Patent Leather, Pebble and Full Grain Leather, Top Grain Leather, Suede Leather), and Region 2024-2032
Purchase options




Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More