Between 2013 and 2023, the Indian market for footwear with outer soles of rubber or plastics and uppers of leather showed substantial growth from $461.92 million to $856.52 million. A significant year-on-year increase of 36.91% in 2015 was noted, reflecting one of the highest growth periods. However, 2020 saw a decline of 13.23% due to the pandemic's impact. Recovery followed with a 23.97% rise in 2021. By 2023, the market exhibited a sustainable, albeit modest, year-on-year growth of 2.63%, with a five-year CAGR of 2.36% indicating consistent expansion.
Future Trends to Watch For:
- Further integration of digital platforms in retail could boost online sales.
- Sustained consumer preference for sustainable and ethically produced footwear may influence market dynamics.
- Expansion into rural markets could drive demand diversification and growth.
- Innovation in material technologies aimed at enhancing durability and comfort may gain traction.
| # | 36 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 21,467,000,000 | 2023 | +3.71% | +2.39% | View data |
| 2 | 2 Germany | 9,742,700,000 | 2023 | +0.57% | +0.33% | View data |
| 3 | 3 France | 8,048,300,000 | 2023 | +0.61% | +1.05% | View data |
| 4 | 4 Italy | 7,793,000,000 | 2023 | -1.26% | -1.25% | View data |
| 5 | 5 United Kingdom | 5,601,600,000 | 2023 | -1.85% | -1.11% | View data |
| 11 | 11 Austria | 1,067,200,000 | 2023 | -1.37% | -1.52% | View data |
| 12 | 12 Chile | 889,710,000 | 2023 | +0.87% | +0.63% | View data |
| 13 | 13 India | 856,520,000 | 2023 | +2.63% | +2.36% | |
| 14 | 14 Sweden | 736,350,000 | 2023 | +1.26% | +2.24% | View data |
| 15 | 15 Mexico | 669,630,000 | 2023 | +0.55% | +2.57% | View data |
