DUBAI, United Arab Emirates, Feb. 01, 2022 (GLOBE NEWSWIRE) -- The global Women’s Luxury Footwear Market is currently worth close to US$ 30 Bn, and is projected to close in on a valuation of US$ 39 Bn by 2029, rising at a steady CAGR of 5% from 2022 to 2029.
The recent past has observed an increased in number of HNWI population in 2021. Globally, HNWI population reached 22.4 million, and their total wealth accounted for US$ 61,275 Bn in 2021. Europe accounted for high growth rate of HNWI population, with almost 5.6 Mn HNWI population. This leads to high purchasing power of individuals. In addition, growing working women population and women’s labor force participation in regions such as Japan, the United Kingdom, and France help increase their purchasing power to buy luxury footwear.
On the back of these factors, the Women’s Luxury Footwear Market is estimated to be valued at US$ 30 Bn in 2022, and expected to expand at a healthy CAGR during the forecast period of 2022-2029. In 2022, worldwide sales of women’s luxury footwear are mostly contributed by sandals and flats casual as compared to other categories (boots, heels & pumps, and casual, sneakers & sports shoes) in the market.
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| Women’s Luxury Footwear Market Size (2022) | US$ 30 Bn | |
| Sales Forecast (2029) | US$ 39 Bn | |
| Global Market Growth Rate (2022 to 2029) | 5% CAGR | |
| Share of Top 5 Women’s Luxury Footwear Suppliers | 55 | % |
Key Takeaways - Women’s Luxury Footwear Market
- Europe is expected to remain prominent in the global women’s luxury footwear market, owing to high concentration of luxury footwear manufacturers such as JIMMY CHOO PLC, Hermes, Christian Dior, Gucci, Chanel, etc.
- The sandals & flats segment is considered as key attributor to the global women’s luxury footwear market, which can be attributed to their availability in wide variety of designs.
- High exposure of consumers in websites such as Amazon, Walmart, etc., with 10% online penetration rate, support online retail in becoming the most lucrative sales channel.
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Scope of the Report
| Attribute | Details |
| Forecast Period | 2022-2029 |
| Historical Data Available for | 2014-2021 |
| Market Analysis | Value in US$ Mn, Volume in Units |
| Key Regions Covered | North America Latin America Europe East Asia South Asia & Pacific Middle East & Africa (MEA) |
| Key Countries Covered | U.S. Canada Mexico Brazil Mexico Argentina Germany Italy France U.K Nordic Spain Japan China India Malaysia Thailand Australia GCC Countries South Africa Turkey |
| Key Market Segments Covered | Product Material Price Range Sales Channel Region |
| Key Companies Profiled | Kering Louis Vuitton Burberry Caleres Jimmy Choo PLC Hermes Christian Dior Gucci Chanel Prada SpA John Lobb The ALDO Group Inc. Tapestry Inc. |
Top Trends in Women’s Luxury Footwear Market
The women’s footwear market contributes high market revenue share as compared to men’s. Changing lifestyle, growing fashion concern, and celebrity endorsement have a significant impact on the global footwear market. The recent market trends in luxury footwear are - sustainable footwear, smart shoes, and athleisure trends. Different types of prints with huge popularity in the past include animal print boots, florals print, minimalist style heels, feather heels, bright chunky sneakers, big toe sandals, etc.
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Competitive Landscape Analysis
The report highlights some prominent players in the global women’s luxury footwear market, which include Kering, Burberry, Caleres, Jimmy Choo PLC, and others. Market players primarily focuses on product design and innovation. Maison Baum, a Germany-based luxury footwear manufacturer, launched a pain free high heel in Q1 2019. The company uses its patented footbed technology and an insole with anatomical elevations to shift wearers’ weight from the ball of the foot.
Explore FMI’s Extensive ongoing Coverage on Consumer Product Domain
Sustainable Footwear Market - Sustainability makes true business sense with regards to the supply chain, and that when both companies and customers are engaged throughout the value chain, it triggers a mutual agenda advancing around more conscious footwear manufacturing.
Protective Footwear Market - Protective footwear serve the purpose of protecting feet against a wide variety of injuries. Impact, puncture and compression are amongst the major injury types in a workplace environment.
Disposable Hygiene Footwear Market - The health conscious consumers are giving more importance to hygiene factors in and around them. Hence, disposable hygiene footwear is one of the handy tool helping to maintain hygiene of shoes and themselves.
Shoe Storage & Organizers Market - The shoe storage and organizers market has been seeing tremendous growth over the past few years, owing to the changing lifestyle of the consumer and the easy availability of the product.
Shoe Dryers Market - COVID-19 pandemic has affected most of the industries due to economic slowdown and disruption in raw material supply chain, which has resulted in fall in the overall business confidence.
Waterproof Shoe Covers Market - Waterproof shoe covers are the type of covers that provides a protective shield to enhance the wear life, increase the life span of the costly footwear. Waterproof shoe covers are designed with water-resistant material to protect the shoe from snow, rain, and slush. The waterproof shoe covers are lint-free and resistant to liquids.
Electric Heated Shoes Market - The electric heated shoes designed for its applications in the geographical areas where the temperature is below zero degrees during all day and night. These areas include the northern part of North America, Europe, East Asia, and most importantly geographical area at the North Pole and the South Pole of the earth.
Trail Shoes Market - Trail shoes are footwear intended for off-road journeys that include several design elements. Trail shoes involve walking or running on a different terrain in an outdoor environment, reaping the benefits of the geographical features that each region offers
Luxury Perfume Market - According to latest research by Future Market Insights, luxury perfume market is set to witness steady growth during 2021-2031.
Luxury Cigarette Market - According to latest research by Future Market Insights, luxury cigarette sales is expected to growth at a significant CAGR during the forecast period 2021-2031. The availability of luxury cigarettes will see significant growth in the long run, owing to the fact that some people are willing to spend more on their smoking habit.
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