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Luxury Footwear Market Size, Share & Trends Analysis Report By Product (Formal Shoe, Casual Shoe), By End-user (Men, Women, Children), By Distribution Channel (Online, Offline), By Region, and Segment Forecasts, 2023 - 2030

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    Report

  • 88 Pages
  • July 2023
  • Region: Global
  • Grand View Research
  • ID: 5144620
The global luxury footwear market size is anticipated to reach USD 57.78 billion by 2030., expanding at a CAGR of 7.0% from 2023 to 2030. The growing influence of casual and streetwear on high-end fashion is also responsible for the rise of luxury footwear globally, where it is now increasingly acceptable to pair footwear with a tailored suit. Luxury brands like Kering, Prada, and Balenciaga are launching striking and expensive designs in sneakers, putting them in direct competition with large sportswear players like Asics, Nike, Puma, New Balance, and Adidas.

Formal shoe luxury footwear led the market and accounted for 58.2% share of the global revenue in 2021. With the growing demand for luxury shoes among the millennial population worldwide, many luxury footwear brands have started catering to the casual shoe category to gain the attention of consumers. For instance, in 2018, KIZIK design, a luxury footwear brand, announced the launch of its patented hands-free technology that offers automatic fit to the wearer. The shoes come without shoelaces and when worn, the technology ensures that shoes are flexibly opened to let the foot go in without the involvement of the hands.

The casual shoe segment is anticipated to be the fastest-growing segment with a CAGR of 7.4% from 2020 to 2027. New product launches in sustainable space, the latest styles, fashion shows by famous personalities, and celebrity endorsements in luxury footwear are among the major reasons attracting varied sets of consumers worldwide.

The COVID-19 outbreak is likely to reduce the demand for luxury footwear across the globe. Store closures due to lockdown measures have resulted in grim consequences, with sales of footwear and accessories from both offline and online channels declining consistently. For instance, sales data reported for Amazon between mid-February and mid-March 2020 showed that apparel and footwear sales fell by an average of 40 percentage points. Consumers have become more conscious of their spending habits and tend to avoid buying frivolous or luxury products, which is a major challenge for the market.

The women segment led the market and accounted for 47.1% share of the global revenue in 2021. The increasing participation of women in corporate roles has raised the number of first-time buyers of luxury footwear across the globe. According to the data from the United States Department of Labor, in 2018, close to 45% of the workforce in the U.S. were women. A large number of women are opting for unique and luxury footwear to experience products of high quality and portray a certain image in society.

Offline distribution channels dominated the market and accounted for a 75.7% share of the global revenue in 2021. Wide product range, offers, and discounts attracting a larger number of consumers are the key strategies opted by such channels to increase revenue and footfall in any store. In addition, consumers have the propensity to physically verify the making, durability, and uniqueness of luxury footwear in person by visiting a store as these examinations offer them more confidence to buy the product.

The online distribution channel is expected to witness the fastest growth during the forecast period. The rising popularity of e-commerce channels among manufacturers and high internet penetration has been driving sales through this channel. In addition, an increase in the number of luxury private sales websites, such as gilt.com, ruelala.com, and hautelook.com, has been boosting segment growth.

North America dominated the market for luxury footwear and accounted for a 29.1% share of the global revenue in 2021. Growth in the market is powered by the strong presence of high-net-worth individuals (HNW) in the region. According to a report by Wealth-X, in 2018, New York was the home to the most HNW individuals in the world which is 65% larger than the second city in the world. The people in this region have high disposable income and affluence for luxury products, which is fueling the regional market growth.

Luxury Footwear Market Report Highlights

  • By product, formal shoe luxury footwear led the market and accounted for 58.2% share of the global revenue in 2021. The rising importance of luxury footwear as a reflection of one’s professionalism at the workplace, particularly in corporate and fashion industries, is expected to remain a prominent factor augmenting product demand
  • By distribution channel, the online segment is expected to witness the fastest growth of 7.6% throughout the forecast period. The increasing availability of a wide range of luxury footwear of different brands, free delivery, and seasonal discount on e-retailer platforms are among the major reasons driving the segment
  • Asia Pacific is expected to register the fastest CAGR of 7.6% from 2022 to 2030. Social media marketing campaigns, growing preference for luxury footwear by millennials, and increasing disposable income have been boosting the number of first-time buyers, thus driving the market in the region.


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Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. The Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Product Outlook
2.3. End-user Outlook
2.4. Distribution Channel Outlook
2.5. Regional Outlook
2.6. Competition Outlook
Chapter 3. Luxury Footwear Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.2.1. Raw Material Outlook
3.2.2. Manufacturing and Technology Outlook
3.2.3. Profit Margin Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Market Opportunities
3.3.4. Market Challenges
3.4. Industry Analysis - Porter’s Five Forces Analysis
3.5. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Demographics Analysis
4.2. Consumer Trends and Preferences
4.3. Factors Affecting Buying Decision
4.4. Consumer Product Adoption
4.5. Key Observations & Findings
Chapter 5. Luxury Footwear Market: Product Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2022 & 2030
5.2. Formal Shoe
5.2.1. Luxury formal shoe market estimates and forecast, 2017 - 2030 (USD Billion)
5.3. Casual Shoe
5.3.1. Luxury casual shoe market estimates and forecast, 2017 - 2030 (USD Billion)
Chapter 6. Luxury Footwear Market: End-user Estimates & Trend Analysis
6.1. End-user Movement Analysis & Market Share, 2022 & 2030
6.2. Men
6.2.1. Men luxury footwear market estimates and forecast, 2017 - 2030 (USD Billion)
6.3. Women
6.3.1. Women luxury footwear market estimates and forecast, 2017 - 2030 (USD Billion)
6.4. Children
6.4.1. Children luxury footwear market estimates and forecast, 2017 - 2030 (USD Billion)
Chapter 7. Luxury Footwear Market: Distribution Channel Estimates & Trend Analysis
7.1. Distribution Channel Movement Analysis & Market Share, 2022 & 2030
7.2. Online
7.2.1. Luxury footwear market estimates and forecast through online, 2017 - 2030 (USD Billion)
7.3. Offline
7.3.1. Luxury footwear market estimates and forecast through offline, 2017 - 2030 (USD Billion)
Chapter 8. Luxury Footwear Market: Regional Estimates & Trend Analysis
8.1. Regional Movement Analysis & Market Share, 2022 & 2030
8.2. North America
8.2.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
8.2.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
8.2.3. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
8.2.4. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
8.2.5. U.S.
8.2.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
8.2.5.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
8.2.5.3. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
8.2.5.4. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
8.2.6. Canada
8.2.6.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
8.2.6.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
8.2.6.3. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
8.2.6.4. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
8.2.7. Mexico
8.2.7.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
8.2.7.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
8.2.7.3. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
8.2.7.4. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
8.3. Europe
8.3.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
8.3.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
8.3.3. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
8.3.4. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
8.3.5. U.K.
8.3.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
8.3.5.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
8.3.5.3. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
8.3.5.4. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
8.3.6. Germany
8.3.6.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
8.3.6.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
8.3.6.3. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
8.3.6.4. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
8.3.7. France
8.3.7.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
8.3.7.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
8.3.7.3. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
8.3.7.4. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
8.3.8. Italy
8.3.8.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
8.3.8.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
8.3.8.3. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
8.3.8.4. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
8.3.9. Spain
8.3.9.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
8.3.9.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
8.3.9.3. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
8.3.9.4. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
8.4. Asia Pacific
8.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
8.4.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
8.4.3. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
8.4.4. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
8.4.5. China
8.4.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
8.4.5.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
8.4.5.3. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
8.4.5.4. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
8.4.6. Japan
8.4.6.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
8.4.6.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
8.4.6.3. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
8.4.6.4. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
8.4.7. India
8.4.7.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
8.4.7.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
8.4.7.3. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
8.4.7.4. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
8.4.8. South Korea
8.4.8.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
8.4.8.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
8.4.8.3. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
8.4.8.4. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
8.4.9. Australia
8.4.9.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
8.4.9.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
8.4.9.3. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
8.4.9.4. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
8.5. Central & South America
8.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
8.5.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
8.5.3. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
8.5.4. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
8.5.5. Brazil
8.5.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
8.5.5.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
8.5.5.3. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
8.5.5.4. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
8.6. Middle East & Africa
8.6.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
8.6.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
8.6.3. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
8.6.4. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
8.6.5. South Africa
8.6.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
8.6.5.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
8.6.5.3. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
8.6.5.4. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
Chapter 9. Competitive Analysis
9.1. Recent developments & impact analysis, by key market participants
9.2. Company Categorization
9.3. Participant’s Overview
9.4. Financial Performance
9.5. Product Benchmarking
9.6. Company Market Share Analysis, 2022 (%)
9.7. Company Heat Map Analysis
9.8. Strategy Mapping
9.9. List of key companies analyzed in this section include:
9.9.1. LVMH
9.9.2. Chanel Limited
9.9.3. Burberry Group PLC
9.9.4. Silvano Lattanzi
9.9.5. Prada S.p.A
9.9.6. A.Testoni
9.9.7. Dr. Martens
9.9.8. Base London
9.9.9. John Lobb Bootmaker
9.9.10. Salvatore Ferragamo
9.9.11. Lottusse - Mallorca
9.9.12. Adidas AG
List of Tables
Table 1. Luxury Footwear Market - Key Market Driver Analysis
Table 2. Luxury Footwear Market - Key Market Restraint Analysis
Table 3. Luxury Footwear market estimates & forecast, by product (USD Billion)
Table 4. Luxury Footwear market estimates & forecast, by end-user (USD Billion)
Table 5. Luxury Footwear market estimates & forecast, by distribution channel (USD Billion)
Table 6. U.S. macro-economic outlay
Table 7. Canada macro-economic outlay
Table 8. Mexico macro-economic outlay
Table 9. Germany macro-economic outlay
Table 10. U.K. macro-economic outlay
Table 11. France macro-economic outlay
Table 12. Italy macro-economic outlay
Table 13. Spain macro-economic outlay
Table 14. China macro-economic outlay
Table 15. India macro-economic outlay
Table 16. Japan macro-economic outlay
Table 17. Australia macro-economic outlay
Table 18. South Korea macro-economic outlay
Table 19. Brazil macro-economic outlay
Table 20. South Africa macro-economic outlay
Table 21. Recent developments & impact analysis, by key market participants
Table 22. Company market share, 2022
Table 23. Company heat map analysis
List of Figures
Figure 1. Luxury footwear market segmentation
Figure 2. Information procurement
Figure 3. Primary research pattern
Figure 4. Primary research approaches
Figure 5. Primary research process
Figure 6. Market snapshot
Figure 7. Segment snapshot
Figure 8. Competitive landscape Snapshot
Figure 9. Global luxury footwear market size, 2017 to 2030 (USD Billion)
Figure 10. Luxury footwear market: Value chain analysis
Figure 11. Luxury footwear market: Profit - margin analysis
Figure 12. Luxury footwear market: Dynamics
Figure 13. Luxury footwear market: Porter’s five forces analysis
Figure 14. Factors influencing buying decisions for luxury footwear
Figure 15. Luxury footwear market, by Product: Key takeaways
Figure 16. Luxury footwear market, by Product: Market share, 2022 & 2030
Figure 17. Luxury formal shoe market estimates & forecasts, 2017 - 2030 (USD Billion)
Figure 18. Luxury casual shoe market estimates & forecasts, 2017 - 2030 (USD Billion)
Figure 19. Luxury footwear market, by End - user: Key takeaways
Figure 20. Luxury footwear market, by End - user: Market share, 2022 & 2030
Figure 21. Men luxury footwear estimates & forecasts, 2017 - 2030 (USD Billion)
Figure 22. Women luxury footwear market estimates & forecasts, 2017 - 2030 (USD Billion)
Figure 23. Children luxury footwear market estimates & forecasts, 2017 - 2030 (USD Billion)
Figure 24. Luxury footwear market, by distribution channel: Key takeaways
Figure 25. Luxury footwear market, by distribution channel: Market share, 2022 & 2030
Figure 26. Luxury footwear market estimates & forecasts, through offline, 2017 - 2030 (USD Billion)
Figure 27. Luxury footwear market estimates & forecasts, through online, 2017 - 2030 (USD Billion)
Figure 28. Luxury footwear market revenue, by region, 2022 & 2030 (USD Billion)
Figure 29. Regional marketplace: Key takeaways
Figure 30. North America luxury footwear market estimates & forecast, 2017 - 2030 (USD Billion)
Figure 31. U.S. luxury footwear market estimates & forecast, 2017 - 2030 (USD Billion)
Figure 32. Canada luxury footwear market estimates & forecast, 2017 - 2030 (USD Billion)
Figure 33. Mexico luxury footwear market estimates & forecast, 2017 - 2030 (USD Billion)
Figure 34. Europe luxury footwear market estimates & forecast, 2017 - 2030 (USD Billion)
Figure 35. Germany luxury footwear market estimates & forecast, 2017 - 2030 (USD Billion)
Figure 36. U.K. luxury footwear market estimates & forecast, 2017 - 2030 (USD Billion)
Figure 37. France luxury footwear market estimates & forecast, 2017 - 2030 (USD Billion)
Figure 38. Italy luxury footwear market estimates & forecast, 2017 - 2030 (USD Billion)
Figure 39. Spain luxury footwear market estimates & forecast, 2017 - 2030 (USD Billion)
Figure 40. Asia Pacific luxury footwear market estimates & forecast, 2017 - 2030 (USD Billion)
Figure 41. China luxury footwear market estimates & forecast, 2017 - 2030 (USD Billion)
Figure 42. India luxury footwear market estimates & forecast, 2017 - 2030 (USD Billion)
Figure 43. Japan luxury footwear market estimates & forecast, 2017 - 2030 (USD Billion)
Figure 44. South Korea luxury footwear market estimates & forecast, 2017 - 2030 (USD Billion)
Figure 45. Australia luxury footwear market estimates & forecast, 2017 - 2030 (USD Billion)
Figure 46. Middle East & Africa luxury footwear market estimates & forecast, 2017 - 2030 (USD Billion)
Figure 47. South Africa luxury footwear market estimates & forecast, 2017 - 2030 (USD Billion)
Figure 48. Central and South America luxury footwear market estimates & forecast, 2017 - 2030 (USD Billion)
Figure 49. Brazil luxury footwear market estimates & forecast, 2017 - 2030 (USD Billion)
Figure 50. Company market share analysis, 2022
Figure 51. Strategic framework of luxury footwear market

Companies Mentioned

  • Lvmh
  • Chanel Limited
  • Burberry Group plc
  • Silvano Lattanzi
  • Prada S.P.A
  • A.Testoni
  • Dr. Martens
  • Base London
  • John Lobb Bootmaker
  • Salvatore Ferragamo
  • Lottusse - Mallorca
  • Adidas Ag

Methodology

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Table Information