The global women’s footwear market is estimated to be valued at USD 185.95 billion in 2023 and is expected to reach a valuation of USD 270 billion by 2033. The adoption of women’s footwear is likely to advance at a CAGR of 3.8% during the forecast period. Among the significant drivers is the growing demand for sustainable and ethical fashion.
Modern consumers are increasingly conscious of their environmental impact, leading them to seek eco-friendly footwear options. Brands that adopt sustainable practices, such as using recycled materials and implementing ethical production processes, are gaining a competitive edge and winning over eco-conscious consumers.
The rise of digitalization has transformed the way women shop for footwear. Online shopping, mobile apps, and virtual try-on technologies have revolutionized the consumer experience, allowing shoppers to browse through vast collections, make informed choices, and visualize how the footwear will look before making a purchase. The convenience of online shopping, coupled with personalized recommendations, has boosted e-commerce sales significantly.
A key driver is inclusivity. Recognizing the diverse body types and foot shapes of women, brands are expanding their size ranges and offering various width options, ensuring that every woman can find comfortable and well-fitting shoes. This inclusive approach not only enhances brand reputation but also broadens the customer base, reaching women who were previously underserved in the footwear market.
Collaborations with influencers and celebrities are amplifying brand visibility and reaching younger demographics. By collaborating with popular figures, brands gain access to a wider audience and can create exclusive collections that resonate with their followers.
| Attributes | Details |
|---|---|
| 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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The global women’s footwear market registered a CAGR of 3% from 2018 to 2022. The footwear business has experienced rapid expansion in recent years, and this trend is projected to continue in the future. The footwear industry is divided into three categories: men, women, and children. Consumers, particularly women, are increasingly concerned with how they dress and what they wear.
Commercials, movies, entertainment channels, and other forms of media have a significant impact on them. women's footwear manufacturers employ well-known personalities, i.e., investing in celebrity endorsements, which influence consumer behavior.
In the near future, these factors are projected to fuel global demand for women's footwear. The women’s footwear market is expected to witness a CAGR of 3.8% in terms of value during the forecast period.
Embracing Versatility, Comfort, and Style in Women's Footwear Fashion
Apparels and footwear are two of the consumer product categories for which consumers’ purchase decision are dependent on varied factors. Footwear consumers make their choices based on the attributes such as versatility, comfort level and style attributes of a particular brand.
While consumers are, busy in discovering new ways of looking and feeling good about what they wear, the attributes that the consumers are not aware about. For instance, Nike has recently launched Nike Flyleather which is made from at least 50% recycled natural fiber.
This effort of Nike to evolve leather into performance material has gained attention of its customers. Besides, comfort characteristics, Flyleather also claims to have least environmental footprint as its creation process consumes water. Apart from Nike, other competitors are also striving to bring about the products that are entirely new for the customers to experience. To stay competitive large sums of money are being poured into research and development of the footwear that has a combination of versatility, comfort, and style. Owing to these factors, the global footwear industry is rejuvenated and demand is escalating.
New Sportspersons as Catalysts for Growth and Innovation in the Sports Industry
The number of sporting population has significantly increased in every region. The budding sportspeople require appropriate gears designed for their specific sports and activities. There lies an opportunity for the footwear manufacturers to categorically target these sports people to make them their prospective customers.
The young consumer base have also been observed to be brand loyal, as they want themselves to be recognized as a user of a particular sports brand products. The footwear manufacturers can align their promotional campaigns to tap this athletic consumer base. This consumer category can also be targeted through the association with their academic institutions and sports academies.
Growing Women's Footwear Demand in the United States Amid Rising Foot Health Awareness.
North America is expected to remain among the key markets, accounting for majority of market share whereas United States is expected to hold a significant CAGR of 3.7% during forecast period. According to the United Health Foundation, the prevalence of diabetes in women between the ages of 35 and 44 is higher than in women between the ages of 18 and 24. White and Asian women are compared to multiracial and black women.
New types of footwear and new models of shoes designed for women with various health issues, such as (shoes for diabetics, shoes for individuals suffering from dementia, shoes for people with special allergies, etc.) are predicted to enhance sales of women's footwear in the country.
How E-commerce Platforms Woo Women in Italy, Sparking a Fashionable Footwear Frenzy
E-commerce allows customers to quickly obtain product information and prices. Furthermore, retailers are increasingly using technologies such as augmented reality (AR) to help online customers improve their e-commerce experience.
Gucci, for example, teamed with Snapchat in 2020 to create AR virtual platforms that allow shoppers to try on Gucci shoes virtually using Snapchat filters. Such developments are attracting women consumers.
Sole-searching the Future: Unraveling the Unstoppable Rise of China's Women's Footwear Market
Women’s footwear sales in China are expected to register a CAGR of approximately 3.5% from 2023 to 2033. Consumers, especially women in China, are showing inconsistent demand for a particular style. They look for latest style on every purchase.
This behavior has led footwear manufacturers to produce limited number of women footwear corresponding to a particular style. This trend has also set a competition trend of innovative ways to tap the women consumers.
Unveiling the Product Type Set to Reign Supreme in the Women's Footwear Market
In terms of product type, sports shoes is likely expected to register a significant CAGR of 3.9%, attributing to the rise in the number of customers opting for sports footwear such as casual sneakers as sports category is growing. The casual and comfortable lifestyle has become more normal for high net individuals.
Nowadays, sneakers are more expensive as millennial continue to buy high value sneakers. Growing influence of sneakers not only attracts the younger generation, but is also used by older people. Apart from the lifestyle aspect, the high-end sneaker or sport shoes are in high demand in the sports sector.
Unraveling the Dominant Base Material in the Women's Footwear Market
On the basis of base material, leather footwear is expected to rise at a CAGR of 4.1%. Consumers who have active occupations or need shoes that provide more comfort and protection prefer leather footwear.
The most important benefit of leather material is its durability. Shoes made of genuine leather can outlast for long period as compared to shoes manufactured by synthetic materials.
Unraveling the Allure of 3rd Party Online Sales for Today's Savvy Consumers
In terms of sales channels, 3rd party online sales are expected to rise at a CAGR of 4.3%. This is because there is variety of offerings in women’s footwear category with discount options given by the 3rd party online sales channel.
Due to the closure of retail stores, COVID-19 lockdowns have encouraged the consumer has to shift towards e-commerce platforms in order to make purchases. In the midst of the pandemic, market participants have used this opportunity to strengthen their presence through online channels.
The women's footwear market boasts a highly competitive landscape, with numerous brands vying for prominence. Established players and emerging entrants compete on various fronts, including product innovation, design aesthetics, and pricing strategies. Customer engagement through social media campaigns and influencer partnerships plays a pivotal role in building brand loyalty and expanding market reach.
The emphasis on sustainable practices and eco-friendly materials sets some brands apart, resonating with environmentally conscious consumers. With the rising demand for customization and personalized experiences, those investing in advanced technologies like virtual try-ons and online personalization tools gain a competitive edge, shaping the future of women's footwear market dynamics.
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Strategies for Women’s Footwear Manufacturers to Expand in the Market:
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| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 185.95 billion |
| Market Value in 2033 | USD 270 billion |
| Growth Rate | CAGR of 3.8% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Product Type, Base Material, Sales Channel, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East & Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Nike Inc.; Adidas AG; Puma SE; Skechers U.S.A. Inc.; Under Armour Inc.; Wolverine World Wide Inc.; Crocs Inc.; ASICS Corporation; Deichmann SE; The ALDO Group Inc. |
| Customization & Pricing | Available upon Request |
In 2023, the women’s luxury footwear market’s size is estimated to be USD 15,171.0 million.
In 2033, the size of the market is expected to jump to USD 25,954.6 million.
Advertising campaigns and increasing disposable income.
The women’s luxury footwear market is projected to record a CAGR of 5.5%.
Kering, Louis Vuitton, Burberry, Caleres, and Jimmy Choo PLC are some prominent players.
| Estimated Market Size (2024) | USD 15,660.8 million |
|---|---|
| Projected Market Size (2034) | USD 24,005.1 million |
| Value CAGR (2024 to 2034) | 4.4% |
| Estimated Market Size (2024E) | USD 9,784.7 million |
|---|---|
| Projected Market Value (2034F) | USD 18,247.9 million |
| Value-based CAGR (2024 to 2034) | 6.4% |
| Market Value (2023) | USD 30,072.1 million |
|---|---|
| Market Anticipated Value (2033) | USD 60,992.6 million |
| Market Growth Rate (2023 to 2033) | 7.3% |
| Market Size (2023) | USD 11.6 billion |
|---|---|
| Market Size (2033) | USD 23.6 billion |
| Market CAGR (2023 to 2033) | 7.4% |
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