Assessment of India's Footwear Market 2021

The value of the global footwear market was approximately USD 222.4 billion in 2017 and in 2020 the industry was worth approximately USD 365.5 billion. The industry is segmented on the basis of product type, demography, and material. On the basis of product type, the market has been segmented into athletic and non-Athletic foot wear.

India is globally the second largest footwear producer and consumer, after China. India’s footwear production accounts for approximately 9% of the global annual production of 22 billion pair as compared to China which produces over 60%. Key production centres in the country include Kanpur and Agra in Uttar Pradesh, Ranipet, Vaniyambadi and Ambur in Tamil Nadu. The sector is fragmented and close to 75% production comes from the unorganised sector including very small, small and medium enterprises. The country is also the 2nd largest consumer of footwear globally.

Pre Covid-19 it was projected that the footwear category in India will record a retail value CAGR of 7% at constant prices, with sales reaching approximately INR 778 billion in 2021. Primary drivers of this growth were expected to be tier-III and tier-IV cities where the percentage of aspirational population is growing.

The global Covid-19 outbreak had caused the major brands in the country to shut down their stores in during the mandatory Government imposed lockdown period in 2020. Most of the players also delayed the release of their new collection release. In March 2021, in the second wave of Covid-19 that the country is experiencing, various States have imposed either weekend or night curfews, dampening the brick & mortar retail scenario.

Why should the report be purchased?

The report ‘Assessment of India's Footwear Market 2021’ highlights key dynamics of the global and India’s footwear sector. The current market scenario, growing opportunity in the sector and the impact of the Covid-19 global outbreak has been studied. The report contains latest views and opinions of industry leaders.

Research methodology

The publisher has conducted in-depth secondary research to arrive at key insights. Data collected from key public industry sources and publications has been scanned and analyzed impartially to present a clear picture of the industry. All recent developments which impact the sector dynamics have been captured and used to support the research hypothesis.