Study released on footwear market in India

By

Cassidy Mantor

Published
Jun 17, 2016

Research and Markets has announced completion of a new study on India's footwear market including manufacturing and retail marketplace analysis.

The report is named "A Study of India's Footwear Market 2016." It outlines the market in general, key performance drivers, challenges and up and coming companies.

Research and Markets reports statistics that "in 2014, the global footwear market was valued at approximately USD 208 billion, and is projected to reach USD 258 billion by the year 2023."

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North Asia is the largest footwear manufacturing region in the world. It is responsible for 70% of the global production.

Of the 22 billion pairs of shoes produced each year, China produces 60%. India comes in second with manufacturing operations accounting for 9% of global footwear production.

The bulk of factories are located in Kanpur and Agra in Uttar Pradesh, and Ranipet, Vaniyambada and Ambur in Tamil Nadu.

With respect to India's domestic footwear market, the study found men's footwear held slightly more than half of the country's retail market space. The study also revealed that 67% of the Indian footwear market is devoted to casual styles.

With large global footwear brands already actively establishing themselves in India, the report also sheds light on the emerging market initiatives of Swiss-based Bata, India's largest footwear manufacturer Paragon Group, and Indian manufacturers Relaxo Footwears Limited and Liberty Shoes Limited.