As per newly released data by Future Market Insights (FMI), the Slip Shoes Market is estimated at USD 151 million in 2022 and is projected to reach USD 213 million by 2032, at a CAGR of 3.5% from 2022 to 2032.
| Attribute | Details |
|---|---|
| Estimated Slip on Shoes Market Size 2022 | USD 151 Million |
| Projected Slip on Shoes Market (2032) Market Size | USD 213 Million |
| Value CAGR (2022 to 2032) | 3.5% |
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Slip-on is often low-heeled, lace-free shoes. The most typical type, known as a loafer in American culture, is of moccasin construction. The Wildsmith Loafer was one of the earliest styles launched in London by Wildsmith Shoes.
They originated as slip-on shoes, but have grown in popularity to the point that they are now worn with business suits in America. In Norway, another design was launched as The Aurland Shoe. They are worn on a range of occasions and come in a variety of colors and styles, with tassels or metal ornaments on the front.
Along with people's improved lives and increased disposable income, one of the primary reasons fuelling the growth of the worldwide slip-on shoes market is the need for more comfortable and cutting-edge footwear. Furthermore, there are several opportunities for market growth due to the rising taste for trendy, branded, and high-fashion footwear among all age groups, as well as the availability of readily configurable and cutting-edge features in footwear.
Furthermore, the growing population and rising interest in health and sports among young people are driving up market demand. These reasons, together with increased health and wellness concerns, are encouraging people to engage in a range of physical activities.
People's increased awareness of health and fitness is fuelling the rise of the slip-on shoes market. Furthermore, the popularity of fitness programs such as Zumba and Yoga is driving up demand for athletic shoes. The slip-on shoe business is being fuelled by rising per capita income. Because of rising wealth and financial freedom, people may now afford elegant and premium brands of slip on shoes. This factor is fuelling a thriving industry for slip-on shoes.
Children along with men and women, increasingly want classy, trendy, colorful, and sports-inspired footwear. The growing number of youngsters participating in various sporting activities drives the demand for slip on shoes. With an increase in demand for stylish yet comfortable shoes, accessible pricing and improved shoe designs at an affordable price are predicted to support the industry's overall growth.
Growth in the slip on shoes market is declining due to rising production costs, and this is the most significant hindrance to the global slip on shoes industry's progress. Another factor restricting market growth is severe competition among footwear manufacturers. Meanwhile, the presence of counterfeit brands compromises the image of significant producers and impedes the market growth.
Furthermore, there is a decent amount of the population that likes the fashion of lace-up shoes and thinks that shoes with laces provide extra support to the feet which acts as a barrier to the development of slip on shoes market. Moreover, trends in fashion change often, which is projected to hinder the worldwide slip on shoes market's progress.
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The slip-on shoe market in India is expanding rapidly.
The status-driven character of Indian society is well served by hype. Without a question, it has a niche, but the potential consumer market is far larger than it looks, especially given how hype goods work like stocks with shifting values. This industry has risen rapidly in the country in recent years. The resale market has grown from a small niche to a multibillion-dollar business in the last 10 years, and India's internet playground has proven to be beneficial to this culture too.
Social media marketing is aiding the growth of Slip on Shoes Market in the country
As internet usage grows, customers are increasingly accessing numerous social media sites. Major companies in the sector develop strategies to market their products on various social media channels. Social media marketing is a main strategy used by many sectors and enterprises to engage target clients about their range of products on social media platforms. As a result, the South Korean market for slip on shoes has a large possibility to acquire traction and eventually establish registration among its target groups, resulting in increased demand for slip on shoes.
China's Slip on Shoes Market is Growing Rapidly
China is becoming a substantial market for athletic footwear in addition to being an impactful market for non-athletic footwear. Regulatory measures related to athletics and national exercise programs, the country's fast urbanization, rising per-capita earnings, international sporting events conducted there, and rising involvement in leisure sports, among other reasons, have all contributed to this trend. Moreover, an increase in low-quality counterfeit products is seen in the Chinese market which impacts the market of key players manufacturing slip on shoes. However, the slip on shoes market is anticipated to rise at a decent rate in China.
Slip on shoes made from non-leather materials are mostly preferred by users
In terms of value, the non-leather sector topped the market. Men, women, and children most commonly use artificial and synthetic leather footwear as formal shoes. Furthermore, the increased usage of artificial and synthetic materials in the production of sports and casual shoes is fuelling the rise of the non-leather market. While non-leather shoes are comparatively cheaper which contributes to the rise of this segment.
Men like slip on shoes for everyday use.
The male slip on shoes category dominated the market, accounting for more than half of the total share. Male individuals have higher requirements; than female adults, since they participate in more sports and physical activities. Furthermore, men are more likely to engage in outdoor activities such as hiking, bicycling, and camping, which increases the demand for comfortable shoes with enough support and grip. Also, the demand for formal slip on shoes is gaining traction in recent times among men.
Consumers favor online stores the most.
E-commerce platforms have risen in popularity in recent years, allowing buyers to choose from a wide range of shoes for casual use; based on their preferences and desires. Customers choose; their shoes based on the activities they want to participate in. Furthermore, sneaker lovers are very interested in owning the most trending and latest; pair of sneakers, which are initially; made; available through online shops by the manufacturers; on their official websites.
To attract more clients, top companies in the casual shoes market are focusing on and implementing unique techniques. While regional enterprises collaborate with important actors to meet the needs of customers.
For Instance:
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania & Middle East and Africa(MEA) |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, Russia, South Africa, Northern Africa GCC Countries, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia & New Zealand. |
| Key Segments Covered | Material, Application, Consumer Orientation, Sales Channel, and Region. |
| Key Companies Profiled | Adidas Group; Nike Inc.; New Balance; ASICS; PUMA SE; Under Armour, Inc.; Li Ning Company Ltd.; ECCO; China Dongxiang (Group) Co., Ltd.; 361 Degrees International Limited.; Vans; Converse |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global sales of slip on shoes market is forecasted to rise at 3.5% CAGR through 2032.
The global slip on shoes market could reach a value of USD 213 million by 2032.
Adidas, Nike and Puma hold an overall market share of nearly 40%.
Artificial and synthetic leather is getting highly used in making of slip on shoes.
The demand for slip on shoes is growing at a faster rate in China.
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Slip on Shoes Market
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