The women’s footwear landscape in Korea is poised to register a CAGR of 3.90% from 2024 to 2034. The women’s footwear ecosystem in Korea is poised to accumulate a valuation of USD 5,249.2 million in 2024.
Notable brands are offering customization options, allowing customers to personalize aspects like colors, materials, and details, are gaining attention in women’s footwear industry in Korea. By 2034, women’s footwear adoption in Korea will likely secure a valuation of USD 7,674.4 million.
| Attributes | Details |
|---|---|
| Expected Value in 2024 | USD 5,249.2 million |
| Projected Value in 2034 | USD 7,674.4 million |
| CAGR Estimation from 2024 to 2034 | 3.90% |
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South Gyeongsang is known for its fashion-forward culture. Consumers' attention to style and trends influences the demand for various types of women’s footwear in the region.
With the increased income, the spending on fashion and lifestyle products, including footwear, has increased. Economic development in the region may positively impact the purchasing power and demand for women's footwear.
The presence of retail outlets, shopping centers, and e-commerce platforms in the province affects the accessibility and purchasing behavior of consumers. The growth of online shopping and modern retail spaces influence the women’s footwear industry.
Factors such as employment rates, income levels, and economic development within the province influence consumer purchasing power and their propensity to spend on women's footwear.
The changing lifestyle choices of women within the province impact the demand for different types of footwear, including casual, formal, or specialized shoes, driving the growth of the women’s footwear industry.
Based on product type, women’s footwear in Korea is likely to be dominated by the safety shoe segment, with a share of 1.80%. Safety shoe designs have evolved to incorporate trendy elements while maintaining their protective features. This fusion appeals to women seeking both safety and fashion in their footwear.
Women, in particular, are becoming more conscious of the importance of protective gear, including safety shoes, in various work environments. Safety shoes, offering features like slip resistance, toe protection, electrical hazard resistance, and comfort, cater to these varied needs across industries.
| Attribute | Details |
|---|---|
| Product Type | Safety Shoes |
| Value Share | 1.80% |
Leather remains the prominent material in the women’s footwear market in Korea with a share of 13.70%. High-quality leather shoes are long-lasting, providing good value for money as they tend to withstand wear and tear better than many other materials. Leather material has the ability to breathe and adjust to the foot's contours, enhances comfort, and reduces the likelihood of blisters or discomfort.
Leather shoes often have a timeless and elegant aesthetic. They can add a touch of sophistication to an outfit and are considered a staple in many wardrobes due to their fashion-forward appeal.
| Attribute | Details |
|---|---|
| Material | Leather |
| Value Share | 13.70% |
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Industry players in women’s footwear in Korea are using mergers & acquisitions as a critical strategy for expanding their geographical presence and for more business in terms of revenue. Massive investments in research and development and strategic partnerships have allowed the players to establish a firm foothold in the market, enlarging their industry share.
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| Attribute | Details |
|---|---|
| Estimated Industry Size in 2024 | USD 5249.2 million |
| Projected Industry Size in 2034 | USD 7674.4 million |
| Anticipated CAGR between 2024 to 2034 | 3.90% CAGR |
| Historical Analysis of Demand for women’s footwear in Korea | 2019 to 2023 |
| Demand Forecast for women’s footwear in Korea | 2024 to 2034 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing Women’s Footwear in Korea, Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Local Providers in Korea |
| Key Province Analyzed while Studying Opportunities women’s footwear in Korea | South Gyeongsang, North Jeolla, South Jeolla, Jeju, Rest of Korea |
| Key Companies Profiled | YUUL YIE; SOVO; VANILLASHU; PINK ELEPHANT; Nike Inc.; Adidas AG; Puma SE; SKECHERS; Under Armour Inc.; Wolverine World Wide |
The estimated valuation of the women’s footwear industry in Korea is USD 5,249.2 million in 2024.
The anticipated CAGR for the women’s footwear ecosystem through 2034 is 3.90%.
Demand for women’s footwear in Korea will be USD 7,674.4 million by 2034.
Safety shoes sales remain the top product type for women’s footwear industry in Korea.
| Estimated Market Size (2023) | USD 185.95 billion |
|---|---|
| Projected Market Size (2033) | USD 270 billion |
| CAGR through (2023 to 2033) | 3.8% |
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Demand and Trend Analysis of Women’s Footwear in Korea
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