Daily Broadcaster

Luxury Footwear Market is anticipated to reach around USD 47.47 billion in 2027 – Credence Research

 Breaking News
  • No posts were found

Luxury Footwear Market is anticipated to reach around USD 47.47 billion in 2027 – Credence Research

December 23
16:30 2021
Luxury Footwear Market is anticipated to reach around USD 47.47 billion in 2027 - Credence Research
The Global Luxury Footwear Market generated revenue of around USD 30.11 billion in 2020 and is anticipated to grow at a CAGR of over 5.40% during the forecast period from 2021 to 2027 to reach around USD 47.47 billion in 2027.

The Global Luxury Footwear Market generated revenue of around USD 30.11 billion in 2020 and is anticipated to grow at a CAGR of over 5.40% during the forecast period from 2021 to 2027 to reach around USD 47.47 billion in 2027. While, cumulative growth opportunity presented by the global Luxury Footwear is around USD 291.5 billion during 2021 to 2027.

Global Luxury Footwear Market, 2020 – 2027 (USD Million)

Luxury Footwears are one of the important aspects of the luxury lifestyle. According to a human research study, footwears have considerable impact on human appearance and one of the most looked after products in luxury lifestyle. Luxury Footwears help to enhance the personality of wearer and also exhibit social status of the wearer. Growing trend among millennials for the luxury footwear is one of the major driving factors for the growth of Luxury Footwear industry.

Raw materials used on Luxury Footwear and normal footwear are one and the same. What makes Luxury Footwear unique is its design, durability, superior  finishing and branding. Luxury Footwears are sold at premium price due to their exclusivity.

Browse the full report at  https://www.credenceresearch.com/report/luxury-footwear-market

Casual Shoes to Exhibit Rapid CAGR

Formal Shoes and Casual Shoes are two major categories of Luxury Footwear. Although formal shoes held the largest share, casual shoes are growing in popularity over the past few years. Increasing demand for Luxury Footwear among young population is major factors influencing the demand for luxury casual shoes.

Men End-users Dominate Luxury Footwear

Men, Women and Children are major end-users’ categories for the Luxury Footwear. Men dominate the global Luxury Footwear industry with over 45% share in 2020. While Women Luxury Footwear segment is growing at a rapid pace. Children’s Luxury Footwear is another important category of end-users. Increasing population of high net worth people around the world is booming the demand for Luxury Footwear.

Online Channel to Grow

Offline and online are major distribution channels for the Luxury Footwear. Hypermarkets and supermarkets are leading offline distribution channels for the Luxury Footwear. However, online channel is growing in popularity among end-users owing to multiple benefits offered by it. Strong marketing campaigns, discount offers and doorstep delivery are the major factors fueling the growth of the Luxury Footwear.

Branding is Key to Success

Base London, John Lobb Bootmaker, Chanel S.A., LVMH, Lottusse – Mallorca, Burberry, Silvano Lattanzi, Prada S.p.A, A.Testoni, Salvatore Ferragamo, Adidas AG and Dr. Martens are some of the major players operating in the global Luxury Footwear market. High net worth people are highly brand conscious and the desire for exclusive products. Hence, branding and exclusiveness is the key to success in global Luxury Footwear market.

Market Segmentation

Global Luxury Footwear Market by Type, 2015 – 2027

  • Formal Shoes
  • Casual Shoes

Global Luxury Footwear Market by End-user, 2015 – 2027

  • Men
  • Women
  • Children

Global Luxury Footwear Market by Distribution Channel, 2015 – 2027

  • Online
  • Offline

Global Luxury Footwear Market by Company, 2015 – 2027

  • Base London
  • John Lobb Bootmaker
  • Chanel S.A.
  • LVMH
  • Lottusse – Mallorca
  • Burberry
  • Silvano Lattanzi
  • Prada S.p.A
  • Testoni
  • Salvatore Ferragamo
  • Adidas AG
  • Martens
  • Others

Browse the full report at  https://www.credenceresearch.com/report/luxury-footwear-market

View TOChttps://www.credenceresearch.com/toc/luxury-footwear-market/table-of-content 

About Us

Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, nonlegislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.

Media Contact
Company Name: Credence Research
Contact Person: Chris Smith
Email: Send Email
Phone: 18003618290
City: SAN JOSE
State: CA
Country: United States
Website: https://www.credenceresearch.com/report/luxury-footwear-market