Women’s Non-Athletic Footwear Market to Grow with a CAGR of 3.78% Globally through 2028
The global
women’s non-athletic footwear market is growing rapidly, driven by evolving
workplace trends and the expanding product range are key market trends.
According
to TechSci Research report, “Global Women’s Non-Athletic Footwear Market -
Industry Size, Share, Trends, Competition Forecast & Opportunities,
2028”, the global women’s non-athletic footwear market stood at USD 123.66
billion in 2022 and is anticipated to grow with a CAGR 3.78% in the forecast
period, 2024-2028. The global women's non-athletic footwear market is a dynamic
sector shaped by shifting consumer preferences, economic factors, and societal
trends. Characterized by a wide range of styles, including heels, pumps, boots,
and casual shoes, the market caters to diverse fashion needs. Increasing
numbers of working women, rising disposable incomes, and a focus on comfort and
versatility drive demand. The industry is also marked by challenges, such as
intense competition, fast-fashion trends, production costs, and sustainability
expectations. Notably, Asia Pacific dominates the market, influencing global
trends with its rich fashion landscape and manufacturing capabilities.
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One of the
driving forces behind the growth of the global women's non-athletic footwear
market is the changing landscape of consumer preferences. Modern women seek
footwear that not only complements their personal style but also aligns with
the demands of their dynamic lifestyles. The emphasis on comfort and
versatility has become a pivotal trend, with women increasingly valuing shoes
that seamlessly transition from casual to formal settings, catering to various
aspects of their lives.
The rising
number of women in the workforce is another significant driver of the market.
As more women engage in diverse professional activities, there is a heightened
demand for footwear that effortlessly blends with workwear while ensuring
comfort during extended periods. This trend has led to an expansion of formal
and business-casual footwear options, with manufacturers and retailers
tailoring their product lines to meet the specific needs of the modern,
professional woman.
Economic
factors, such as rising disposable incomes and urbanization, play a pivotal
role in shaping the global women's non-athletic footwear market. As economies
grow and urban centers expand, there is an associated increase in purchasing
power and consumer spending. This economic prosperity contributes to a surge in
demand for fashion and lifestyle products, including non-athletic footwear. The
market, thus, reflects not only the individual choices of consumers but also
the broader economic trends influencing purchasing behavior.
Moreover, the
industry grapples with the challenges posed by intense competition and market
saturation. With a plethora of brands vying for consumer attention, both
established global entities and emerging local players must differentiate their
products to capture market share. This saturation often results in pricing
pressures and a focus on cost-effective manufacturing, which can, in turn,
impact the overall quality of footwear. To stand out in this competitive
landscape, companies must invest in research and development, continually
innovating in terms of design, materials, and features to appeal to the
discerning tastes of the modern consumer.
Fast-fashion
trends and short product lifecycles present additional challenges for the
women's non-athletic footwear market. Rapid changes in consumer preferences,
driven by influencers, social media, and seasonal fashion cycles, contribute to
shorter product lifecycles. This dynamic necessitates agile and responsive
strategies from manufacturers and retailers to adapt quickly to changing
trends, manage supply chains efficiently, and avoid issues related to excess
inventory.
The growing
emphasis on sustainability and ethical practices is reshaping the industry,
posing both challenges and opportunities. Consumers are increasingly conscious
of the environmental and social impact of their purchases, leading to a surge
in demand for eco-friendly and ethically produced footwear. Footwear brands are
responding by incorporating sustainable materials, adopting transparent supply
chains, and implementing ethical production practices. While this commitment to
sustainability contributes positively to brand image, it also requires
significant investments, challenging companies to find a balance between
environmental responsibility and commercial viability.
The global women’s non-athletic footwear market is segmented into type, category, sales channel, regional distribution, and company.
Based on category,
the market is segmented into mass, and premium.
Mass-market
footwear has emerged as the growing category in the global women's non-athletic
footwear market. Characterized by affordability and accessibility, mass-market
offerings cater to a wide consumer base seeking stylish and budget-friendly
options. This category's growth is fueled by the rising demand for trendy yet
cost-effective footwear, aligning with the diverse fashion preferences of a
global audience. Mass-market non-athletic footwear exemplifies the industry's
ability to provide accessible and on-trend choices, appealing to consumers who
prioritize both fashion and affordability in their purchasing decisions.
Major companies
operating in global women’s non-athletic footwear market are:
- CHANEL
- Prada SpA
- LVMH
- Capri Holdings
- Tapestry Inc.
- Kering
- The ALDO Group
Inc.
- LIR SRL
- Bata Corporation
- VF Corporation
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“The
global women's non-athletic footwear market is a dynamic sector shaped by
evolving consumer preferences, economic influences, and societal trends. Driven
by a fusion of style and comfort, the market caters to diverse lifestyles.
Factors like the increasing number of working women, rising disposable incomes,
and a focus on sustainability contribute to its growth. Despite challenges such
as competition, fast-changing trends, and sustainability expectations, the
industry adapts by emphasizing innovation and inclusivity. Asia Pacific emerges
as a dominant force, with mass-market offerings gaining prominence. Overall,
the market thrives through a delicate balance of fashion-forward designs,
affordability, and ethical considerations.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Women’s Non-Athletic
Footwear Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, Segmented By Type (Boots &
Shoes, Heels & Pumps, Flats, Sandals, Other), By Category (Mass, Premium),
By Sales Channel (Hypermarkets/Supermarkets, Specialty Stores, Online, Others),
By Region, By Competition, 2018-2028”, has evaluated
the future growth potential of global women’s non-athletic footwear market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Women's Non-Athletic Footwear Market.
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