According to study, “Footwear Market in India
(2018-2023)” some of the major companies that
are currently working in the footwear market in India are Khadim India Limited,
Sreeleather Limited, Liberty Shoes Limited, Nike Inc., Bata India Limited, Relaxo
Footwear Limited, Paragon Footwear Private Limited, Action Shoes Private Limited,
Puma Sports India Private Limited, Adidas India Private Limited, Reebok India
Private Limited.These key players are progressively focusing on offering
well-established products, producing strong brand names and exhibit long-term
reliability. The vendors in footwearmarket are increasingly competing against
each other, which are based on factors such as features, price and product
quality. The market has been dominated by local and unorganized players.
Unorganized players are liable to benefit from a much higher revenue margin as
evaluated to their organized counterparts.
Footwear refers to garment or
things, which is worn by people on their feet. It is used for adornment and
fashion. It protects foot from rain, cold, dampness, heat and dirtiness. Foot
wears are of many types such as slippers, boots, shoes, and sandals etc. On the
basis of material, the footwear market is segmented into leather footwear and
non leather footwear. On the basis of type, the market is segmented into
athletic and non athletic. Athletic footwear includes running shoes, aerobics
shoes, sports (cross training), soccer shoes, walking shoes, tennis shoes,
seasonal boots, cricket footwear and others. Non-athletic footwear includes
casual, formal, boots and waterproof footwear. On the basis of distribution
channel, the market is segmented into supermarkets, online channels,
independent retail stores and hypermarkets. The applications are split in the
market as per on the basis of the demand for the footwear include women, men
and children.
The footwear market is increasing
its share due to easy availability of low cost of labour, comfortable
availability of raw materials, tax incentives on machinery by government,
presence of qualified leather technologies and exposure to export markets etc. Some
of the weaknesses associated are environmental problems, less number of
organized product manufacturers, horizontal growth of tanneries, low machine
& material productivity, delayed deliveries and uneconomical size of
manufacturing units etc. Some of the key opportunities include growing
international & domestic markets, growing fashion consciousness, product
diversification and exposure to newer markets.
Some foreign brands such as
Hasley, Elefanten, Clarks, Florsheim, Salamander, Ecco, St Michaels, Stacy
Adams, Nunn Bush, Colehaan and Deichmann are pretended under license in
country.
The market of footwear is mainly
driven by increasing disposable income. Rise in use of internet penetration, rapidly
growing population, increasing fashion consciousness among the young generation,rising
footwear manufacturers, increasing in technological innovations, rising
popularity of the e-commerce market, having a presence over the e-commerce
ecosystem and government initiatives are increasing significantly which led to
the growth of the market.
India is the second leadingproducer
of footwear after China, globally. Agra, Kanpur, Vaniyambadi, Ranipet and Ambur
are some production cities in country. Textile, sandals and other footwear
holds the highest segment of this market. It is estimated that footwear market
will be grown increasingly and turn into a multibillion-dollar category, due to
high order volumes and repeat purchases of footwear.
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