Leather Footwear Industry Overview
The global leather footwear market size was valued at USD 166.53 billion in 2018 and is expected to grow with a CAGR of 2.8% from 2019 to 2025.
The growth is attributed to the growing working-class population, rising income among consumers, flourishing retail e-commerce sector worldwide, growing fashion trends in business wear. Leather shoes are durable and provide an elegant look making it popular among various consumers. The breathable features of real leather which can cool down the feet and avoid unwanted odors is also driving the growth of the product in the market.
Leather footwear market is closely aligned with consumer spending on fashion accessories. Rapid growth in the spending on fashion accessories due to growing influence of social media is driving the market. Recent changes in consumer shopping trends and increasing propensity toward buying high-end and designer shoes are estimated to trigger the growth. Demand for trendy, fancy, and comfortable footwear is driving the demand.
Gather more insights about the market drivers, restrains and growth of the Leather Footwear Market
Leather shoes are widely accepted as a premium product. Introduction of new products by numerous brands has been driving the market growth. High adoption of the products even in areas with relatively warmer climates is anticipated to drive growth. As the demand for flexible and lightweight products is growing at a rapid rate, numerous innovations and technological advancements help surge the product demand. Leather footwear have high durability and stand strong even in heavy duty work along with casual, designer shoes and can be used for both indoor and outdoor applications, making it more popular among consumers.
Availability of counterfeit footwear made from synthetic leather developed by local manufactures is restraining the growth. Growing alternatives like synthetic and vegan leather are also likely to posing a challenge for growth. Leather footwear costs more on an average than any other type of footwear which act as a major restrain in the cost centric countries. Consumers sensitive to animal slaughtering and aware regarding animal ethics and rights are also hindering the growth.
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Leather Footwear Market Segmentation
Grand View Research has segmented the global leather footwear market on the basis of end user, distribution channel, and region:
Leather Footwear End User Outlook (Revenue, USD Million, 2015 - 2025)
- Male
- Female
- Kids
Leather Footwear Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
- Online
- Offline
Leather Footwear Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- Japan
- Central & South America
- Brazil
- Middle East & Africa
- Nigeria
Key Companies & Market Share Insights
Key market players are Prada Holding B.V.; LVMH; Allen Edmonds; Kering S.A.; Bruno Magli; Cole Haan; Genesco Inc.; Hermès International S.A.; Salvatore Ferragamo S.p.A.; and Crockett & Jones. Manufacturers are investing heavily in product enhancement and innovation and setting up new trends to gain greater market share. Companies are launching shoes with more functions. For instance, brand Nat-2 has introduced a zipper feature that can turn shoe into sandal or flip flop.
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