Published on : Nov 12, 2018
Albany, New York, November 12, 2018: Footwear is in vogue owing to the urbanization which is swaying the buying behavior and life style of the consumers. Besides, global life style brands are exploring the small cities of India. Consumers becoming fashion conscious coupled by being technological savvy have further fueled the growth of footwear market in India. This research report titled “ India’s-Footwear-Market-2018- ” has been included in the exhaustive research repository of Market Research Hub (MRH). Furthermore, augmentation of footwear segmentation, increase in discretionary income have led to the growth in footwear market.
India, second largest producer of footwear after China produces staggering 22 billion pair which accounts for 9% of the global production per annum. The principal production areas consist of Agra and Kanpur in Uttar Pradesh; Ranipet, Vaniyambadi and Ambur in the southern state, Tamil Nadu. However, unorganized sector with small enterprise and SMEs incorporate 75% production.
Sedentary life style coupled with influx of diseases have made people health conscious. Consequently, involvement in sporting activities has surged and as a result, consumers have increased their spending on sportswear.
Brand loyalty has been kept intact thanks to the easy availability of different styles of footwear. As the old adage goes, “Real India lies in rural India,” the organized sector have expanded towards the hinterlands of India. Though India is a price sensitive market, people have realized regarding quality, innovation and technology. Besides, the access of tech footwear which are water proof, non-skid shoes, and anti-micro shoes have boosted the market. Moreover, government’s move to cut the Goods and Services Tax (GST) on footwear priced below One thousand rupees has bolstered the market.
The roadblocks to the footwear industry is unorganized sector which is the most famous purchasing destination for the majority of India’s 1.3 billion demography. On top of that, the rampant sham products is one of the daunting challenges for the organized footwear sector as people associate the product with the brand image.
A Study of India’s Footwear Market 2018: Report Overview
The study on India’s footwear market 2018 provides a thorough analysis on the landscape of footwear market. Furthermore, the report gives a thorough assessment with regards to market size— production, value, consumption and exports. Essentially, the report peruses major drivers, restraints, trends, predominant players in the market and product categories along with market estimation.
The report also delves into the impact of Goods and Services Tax (GST) on the footwear market which is the catalyst in terms of the growth of the market.
The easy availability of footwear can be attributed to the presence of principal players in the market. The report also does the assessment of Bata, Liberty Shoes limited, Relaxo Footwears Ltd., Paragon, Nike, Adidas AG and Puma.
The report starts with the executive summary which illustrates market size in terms of revenue, market value and production. In addition, an in-depth analysis of the competitive landscape highlights profiles of eminent players in the global market space. Moreover, the report also studies the strategic moves, areas of interest, and developments undertaken by major players in the market.
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