Leather Footwear Market Analysis Report By End User, By Distribution Channel, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global leather footwear market size was worth USD 166.53 billion, in 2018. The market is projected to grow at a CAGR of 2.8% over the forecast period, 2019 to 2025. The rise in the working-class population coupled with increasing disposable income is attributing to the growth of the market. Further, increasing e-commerce retailing, increasing trend of fashion in business wear is fueling the market growth. Leather shoes are known to be durable and aesthetically appealing. In addition, lather-made shoes help in preventing unwanted odor, thus becoming popular among end-users.

Consumers' spending on fashion accessories has increased considerably in the recent past, which, in turn, is expected to positively affect market growth. Further, growing social media marketing and omnichannel retailing are projected to drive the market over the forecast period. Consumers are more inclined towards purchasing high-end and premium products owing to their classic appearance and durability. This factor is likely to proliferate the market growth during the forecast period.

Growing demand for premium products led to a rise in the introduction of new products by various brands. These products are popular in relatively warmer regions as they are effective in a warm climate, thus, supplementing the market growth. Considering the growing demand for lightweight and flexible footwear products, key players are focusing on technological advancements and innovations. Moreover, the high durability of leather footwear products makes them ideal for heavy-duty work, thus becoming popular for both indoor and outdoor applications.

However, the growing market for synthetic leather-made counterfeit footwear products is expected to adversely affect market growth. In addition, leather footwear products are costlier than other alternatives. Further, the availability of different alternatives such as vegan and synthetic are projected to hinder the growth of the market over the forecast period, 2019 to 2025. Moreover, consumers’ awareness of animal slaughtering is expected to restrain the growth of the market.

End-User Insights

The male segment held the largest market share of 56% in 2018 and is projected to exhibit the highest growth rate over the forecast period. Rising awareness about physical appearance coupled with increasing spending on footwear products is supplementing the growth of this segment. Millennials along with generation Z are the major consumers in this segment. Often, their buying decision is influenced by the ongoing fashion trend and social media advertisement.

On the other hand, the female segment nearly 37% of the leather footwear market shares in 2018. Recently, there has been a decline in the demand for heeled shoes, which, in turn, is restraining the segment growth. However, the rising fashion trend among working women is likely to propel market growth over the forecast period.

Distribution Channel Insights

The offline segment was the largest shareholder with over 72% of the market share, in 2018. The increasing numbers of offline stores that offer a wide range of products are gaining traction in both emerging and developed countries. For instance, Eobuwie.pl, which is owned by CCC, is one of the leading footwear manufacturing brands. The company allows its customers to search over 450 brands with the help of tablets, thereby bridging the gap between offline and online shopping experiences. Such innovative offline retailing strategies are boosting product sales through bricks and mortars stores.

The online segment, on the other hand, is expected to grow at a CAGR of 3.2% over the forecast period. The rise in the number of e-commerce platforms and the increasing trend of omnichannel retailing is attributing to this growth. Owing to uniformity in shoe sizes and technological innovation, online footwear shopping experiences have greatly improved in the recent past. Further, doorstep delivery, easy return, and cashback offers are anticipated to propel the growth of the online segment from 2019 to 2025.

Regional Insights

Europe was the largest market with a share of 31.0%, in 2018. Changing fashion statements and growing focus on the importance of footwear products is boosting product sales in the region. The U.K held 13% of the leather footwear market share in 2018. In the U.K footwear market, leather-made footwear products hold 49.0% of the market share. Formal shoes are expected to witness high demand owing to the increasing middle-class population coupled with the rise in the number of working women population.

Asia Pacific is anticipated to register the highest CAGR of 5.1% over the forecast period. The growing middle-class population and expansion of various international brands are attributing to the growth of this region. Men's footwear products such as formal shoes rounded Chelsea, robust biker and lace-up boots are estimated to be popular in the region.

Leather Footwear Market Share Insights

Major players operating in the market are Allen Edmonds, Prada Holding B.V, Bruno Magli, Genesco Inc., LVMH, Hermès International S.A, Crockett & Jones, and Salvatore Ferragamo S.p.A among others. These players are focusing on design innovation, new product launches, effective branding strategies, and mergers & acquisitions to strengthen their dominance in the market. For example, brand Nat-2 introduced an innovative zipper feature that is capable of turning shows into flip-flops or sandals.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the leather footwear market on the basis of end-user, distribution channel, and region:

• End User Outlook (Revenue, USD Million,2015 - 2025)
    • Male
    • Female
    • Kids

• Distribution Channel Outlook (Revenue, USD Million,2015 - 2025)
    • Online
    • Offline

• Regional Outlook (Revenue, USD Million,2015 - 2025)
    • North America
        • U.S.
    • Europe
        • Germany
        • U.K
    • the Asia Pacific
        • China
        • Japan
    • Central & South America
        • Brazil
    • Middle East & Africa
        • Nigeria