Formal Footwear Industry 2017 Global Market Size, Technology Review, Cost Analysis and Demand Overview
The latest report on Formal Footwear Market by Infinium Global
Research gives complete coverage of the Formal Footwear Market by footwear type
(ballerinas, boots, brogue, derby, flat, high heels, loafers, sandals,
slip-on’s, oxfords, wedge), leather type (full grain, patent leather, pebble,
suede leather, synthetic leather, top grain) in terms of key trends, market
size, forecast and CAGR growth over the period of 2017 to 2023. In addition,
the study covers deep dive into key product and applications trends in the
regional markets of Formal Footwear such as North America, Europe, Asia-Pacific
and Latin America over the short run and long run.
Market Insights
Product innovation, expansion of distribution
channels, heavy spending in branding and marketing of the products, use of modern
technologies and materials characterises the global formal footwear market. The
affinity for adopting new trends in designs among the consumers is driving the
growth of the formal footwear market. The increasing popularity of e-commerce
is driving the growth of the global formal footwear market, as it gives the
consumers the comfort of shopping from anywhere and gives them more options to
choose. Increasing brand awareness among the consumers is driving the demand
for branded formal footwear. Increasing number official and formal events in
official and personal lives of people are influencing the sales of the formal
footwear in many regions. Men’s formal footwear segment dominates the global
formal footwear market. Ladies formal footwear segment is expected to have more
designs in coming years. As more women are entering professional careers in
this era, the demand for the ladies formal footwear are expected to grow
significantly during forecast period. Increasing preference for flat heeled
foot wears over high heeled foot wears among ladies are expected to drive the
demand for the flat heeled formal foot wears.
The increasing awareness among people about cruelty against animals,
preference for eco-friendly alternatives are expected to drive the growth of
demand for synthetic leather based formal footwear during the forecast period
2017-2023.
Presence of counterfeit formal footwear in large
numbers in the market and the increasing competition from small manufacturers
with similar products as that of branded ones are the major restraints for the
global formal footwear market. The increasing number of women in offices
globally is expected to provide opportunities for major players in the market
to expand as ladies prefer multiple foot wears for regular use. The spreading
of western lifestyles in emerging nations is expected to provide opportunities
for the major players to cover the untapped markets during the forecast period.
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Segments Covered
The report covers the analysis of global as well as
regional markets of formal footwear market. Moreover, the global formal
footwear market is segmented, by footwear type and by leather type. The global
formal footwear market by footwear type covers ballerinas, boots, brogue,
derby, flat, high heels, loafers, sandals, slip-on’s, oxfords, wedge and some
others. On the basis of the leather type, the market is segmented as full
grain, patent leather, pebble, suede leather, synthetic leather, top grain, and
some others.
Geographies covered
The global athletic footwear market covers the
analysis of geographies such as North America, Europe, Asia-Pacific and Row. In
this section, the key trends and market size for each region is provided over
the period of 2017 – 2023.
Among geographies, Asia-Pacific is the largest
formal footwear market with high market share. It is expected to remain as the
fastest growing formal footwear market during the forecast period 2017 to 2023.
The presence of large young population in countries such as China, India, and
Indonesia among others and increasing adoption of western lifestyle among them
are driving the growth of the Asia-Pacific formal footwear market. Moreover,
the presence of large number of footwear manufacturers in the region, which
focuses on exports, enhances the growth of the market. North America and Europe are the next major
markets.North American market relies heavily on the imports from China. The
tradition of having formal wears on various occasions in North America is
expected to sustain the growth of demand for formal footwear during the
forecast period. In Europe, ladies formal footwear segment is expected to grow
significantly with a rise in demand for flat heeled foot wears.
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Companies Profiled
The companies covered in the report include manufacturers
of global formal footwear market include Aldo Group, Bata Shoe
organization,Burberry Group Inc, Calvin
Klein , C & J Clark International Ltd, ECCO Sko A/S, Dolce & Gabbana ,
Guccio Gucci, Hugo Boss, Kenneth Cole Production Inc, LaCross Footwear, Louis
Vuitton and Prada.
Report Highlights:
The report provides deep insights on demand
forecasts, market trends and micro and macro indicators. In addition, this
report provides insights on the factors that are driving and restraining the
demand of formal footwear globally as well as regionally. Moreover, IGR-Growth
Matrix analysis given in the report brings an insight on the investment areas
that existing or new market players can consider.
Moreover, the study highlights current market trends
and provides forecast from 2017 to 2023. We also have highlighted future trends
in the formal footwear market that will impact the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight on the market share of the leading players. Additionally, the
analysis highlights rise and fall in the market shares of the key players in
the market. This report will help manufacturers, suppliers and distributors of
the formal footwear market to understand the present and future trends in this
market and formulate their strategies accordingly.
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