The India Footwear market is segmented By Material (Rubber, Leather, Plastic, and Fabric), By Distribution Channel (Footwear Specialists, Online Sales, Supermarkets and Hypermarkets, Departmental Stores, Clothing Stores, and Others), by End-User (Men, Women, and Children), and By Region (North, East, West, and South)
Market Overview
India Footwear Market Overview
The India Footwear market is expected to reach a market size of USD 14.50 billion in 2027, growing at a CAGR of 11.04%. In 2022, the India Footwear market was valued at USD 8.80 billion. The primary growth drivers of the market are Changing Fashion Trends, Rising E-commerce, Innovations in Materials and Technology, and the arrival of new brands. Counterfeit Products, Supply Chain Disruptions, Fluctuating Raw Material Prices, and Infrastructure Challenges are some of the restraining factors in the market. Bata is the leading player in the India Footwear market.
India Footwear Market Definition
Market Definition of India Footwear: India Footwear market is segmented into four material types Rubber, Leather, Plastic, and Fabric. The report covers distribution channels such as Footwear Specialists, Online Sales, Supermarkets and Hypermarkets, Departmental Stores, Clothing Stores, and Others. However, this report specifically covers the India footwear retail market and excludes the wholesale industry of India footwear market. This report encompasses an analysis of the domestic footwear market including northern, eastern, western, and southern India. The report covers both domestic and MNC companies such as Bata, Future Retail India, and Liberty Shoes Limited. In this report, the market size is calculated on the basis of revenue (On the number of two pairs sold in India).
Taxonomy
Market Ecosystem of India Footwear Market
India Footwear Market Industry Analysis
Strength
Australia has a robust agricultural sector that produces a diverse range of perishable goods, including fruits, vegetables, dairy products, and meat. This provides a solid foundation for the cold chain industry as it requires temperature-controlled handling and distribution.
Weakness
Dispersed population presents logistical challenges in managing an extensive cold chain network. Remote and regional areas have limited access to cold storage facilities and face higher transportation costs.
Opportunity
The adoption of advanced technologies such as IoT sensors, real-time monitoring systems, and data analytics presents opportunities to improve efficiency, reduce waste, and enhance supply chain visibility.
Threat
The industry is subject to stringent regulations. Failure to comply with these regulations can result in penalties, damage to reputation, and legal consequences.
The India Footwear market is driven by growth drivers like Changing Fashion Trends, Rising E-commerce, Innovations in Materials and Technology, and the arrival of new brands. Growing disposable incomes and exposure to international fashion trends are contributing to an increasing demand for fashionable and trendy footwear in India footwear industry. The rise in online shopping has enhanced consumer comfort and simplicity of use while purchasing footwear goods. The significant rise is developing the market and boosting sales in the footwear industry of India.
Changing Fashion Trends
Demand for trendy and stylish footwear is increasing rapidly in the India footwear market owing to the increasing disposable income and exposure to prominent global products. New and fashionable designs are always in demand as shoppers try to match their footwear selections to the newest trends and fashion statements. The sales of branded footwear in India are estimated to grow by 20% between 2023-2028. One of the main reasons behind this significant upsurge in sale of branded footwear is growing disposable income of the consumers. In 2022, India’s disposable income was valued at USD 2.76 Tn compared to USD 2.04 Tn witnessing an increase of USD 0.72 Tn in last five years.
Rising E-commerce
The e-commerce industry has grown significantly in the last five years owing to various factors affecting the market. In 2017 the India e-commerce industry was valued at USD 39 billion. The industry faced negative growth in 2018 and 2019 with a market size of USD 22 and USD 25 billion respectively. The market witnessed substantial growth post-pandemic in 2021 and 2022 with a market size of USD 84 and USD 74 billion, respectively. The market is expected to touch a market value of USD 100 billion by the end of 2024.
Innovations in Materials and Technology
Technology and material advancements have enabled footwear goods to improve performance, comfort, and longevity. Nowadays consumers are demanding both appearance and utility, which are met by features including lightweight designs, breathable materials, and enhanced cushioning. Innovations in technology are also helping to produce sustainable and environmentally friendly footwear. Specifically, environmentally concerned consumers are drawn to those brands that include sustainable practices in their manufacturing processes and materials selection.
The arrival of new brands
New companies are frequently adding new perspectives and different designs to the market, expanding the selection of products available. The introduction of new brands contributes to the overall growth of the footwear market by drawing in new customers and raising the total amount of footwear items consumed. The competition is becoming intense as the new brands are entering the Indian footwear market, forcing established brands to innovate and make improvements to hold onto their market share.
India Footwear Market Segmentation
India Footwear Market Segmentation by Type of Material, (In Revenue %), 2022
In 2022, Leather shoes type was dominating the material type segmentation of India footwear market with 42% of the market share. Rubber is the second largest material type in the market followed by Plastic and Fabric.
India Footwear Market Segmentation by Type of Distribution, (In Revenue %), 2022
In 2022, the India footwear market is predominantly characterized by the distribution type, with footwear specialists leading the way, commanding a substantial market share of 57%. Online sales come in second place in the distribution segment, holding a market share of 16%, followed by supermarkets and hypermarkets stores with a 9% market share. The remaining 18% of the market is acquired by Departmental stores, Clothing Stores, and others with 7%, 5%, and 6% of the market share respectively.
India Footwear Market Future Outlook
The India footwear Market is estimated to grow at a CAGR of 11.04% between 2023-2027. The market is expected to reach a market size of USD 14.50 billion by the end of 2030 driven by growth drivers like Changing Fashion Trends, Rising E-commerce, Innovations in Materials and Technology, and the arrival of new brands. There has been an increase in demand for ethical and sustainable footwear items in the last few years. New trends in footwear have emerged such as oil-proof and vegan footwear. This is due to consumers being more aware of how their purchases affect the environment and animal welfare. Oil-proof footwear is footwear that is designed to repel oil and other liquids that protect workers in various industries such as construction, manufacturing, and food service. Vegan footwear is prepared from raw materials extracted from non-living things and avoids tannery products completely.
India Footwear Market Macroeconomic Indicators
India's population was estimated at 1437 million in 2023, increasing by 30 million from 1407 million in 2021. By the end of 2025, India's population is predicted to reach 1500 million.
In the year 2020, The population between the 25-49 age group is the largest age group (36.40%) in India followed by 0-14 (26.40%), 50+ (19.40%), and 15-24 (18%).
In 2023, India's GDP was valued at USD 3732 billion compared to USD 2710 billion in 2018. The country’s GDP is expected to reach 5000 billion by the end of 2025.
In 2023, India’s Inflation rate stands at 5.66 % an increase of approximately 2.5% from the 2018 inflation rate of 3.94%. During the COVID-19 pandemic in 2020, the inflation rate in India surged unexpectedly to 6.62% from 3.72% in 2019.
As of 2023, India comprises of majority of the middle-class population which is 57% of the total population of India. After the middle class comes the lower-class category which comprises 33% of the total population of India. The remaining 10% of the population belongs to a high-income class.
Frequently Asked Questions
Find quick answers to common questions about the India Footwear Market
The India Footwear market was valued at USD 8.80 Billion in 2023.
In 2027, the market size of the India Footwear Market is expected to reach USD 14.50 Billion growing at a CAGR of 11.04% in the forecasted period of 2023-2027.
Bata, Future Retail, Liberty, Adidas, Campus, Metro Shoes, Flipkart, and Amazon some of the prominent companies operating in the India Footwear market.
Changing Fashion Trends, Rising E-commerce, Innovations in Materials and Technology, and the arrival of new brands are the major growth drivers of the India Footwear market.
The leather type is dominating the India Footwear market in the product type followed by fabric & others.
