NEWARK, Del, Jan. 10, 2023 (GLOBE NEWSWIRE) -- According to Future Market Insights, the global custom shoes market is estimated at USD 712 million in 2022 and is projected to reach USD 1454 million by 2032, at a CAGR of ~7.4% from 2022 to 2032.
Custom shoes are shoes that are manufactured to order. They may be created in any colour, style, or pattern desired by the purchaser. Custom shoes are crucial because they provide the wearer a distinct appearance and feel. Furthermore, because each pair of personalised shoes is unique, they frequently reflect the wearer's individuality. The unique aspect is that each pair of custom shoes is produced specifically for the person who purchases them. Custom shoes may also be manufactured to fit any size, shape, or width of foot.
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The introduction of fresh fashion trends in global culture is driving the demand for personalised shoes. Different shoes are currently utilised for various purposes and occasions. Using running shoes for running or jogging, as well as numerous sport shoes for other activities such as tennis shoes, skating shoes, basketball shoes, etc. is the newest fad.
The growing need for personalization for such purposes is driving the demand for bespoke shoes. There is also the contemporary necessity for special event footwear to be properly tailored. The married pair is increasingly choosing for customized shoes based on their preferences during wedding celebrations. This is causing a surge in demand for the custom shoe market.
However, high pricing and restricted customisation are limiting the industry's expansion. In the next years, technological advancements may help us overcome this barrier.
Key Takeaways from the Custom Shoes Market Study
- E-commerce is expected to be the leading sales channel during the forecast period. As customer preferences shift, more individuals prefer internet retailing to traditional brick-and-mortar establishments. As a result, companies are expanding their online market presence. One of the primary aspects driving the growth of the online sales channel is the availability of a diverse assortment of custom shoes.
- On a regional basis, from 2022 to 2032, Asia Pacific is expected to be the fastest-growing region. The increased popularity of athletic activities in emerging nations such as China, India, Thailand, and Indonesia, as well as the growing use of numerous styles of shoes for different situations, may all be related to the rise.
- North America is one of the leaders and is projected to remain so in the next years. This is due to the United States' superior technological capability for producing personalised shoes. The region's desire for personalised shoes is also high due to the high level of enthusiasm among prospective customers and a well-established e-commerce network. The Asia Pacific region is also predicted to rise significantly. The cause for this is the growing youthful population's thirst for the newest fashion trends, as well as the rapidly expanding disposable income of households.
“The demand for unique and personalized shoes is increasing in recent times while they players are taking sincere efforts to provide customization in their shoes. This balance between supply and demand will help the custom shoes market to grow at a rapid rate.” Says an FMI Analyst.
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Who is winning?
Leading players operating in the Custom Shoes market are Nike Inc., PUMA SE, Crockett & Jones, Italian Shoe Factory, VF Corporation, Toesmith, Vans Inc., Alive Shoes, Edward Green Shoes, Costoso Italiano among others.
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Future Market Insights, in its new offering, provides an unbiased analysis of the custom shoes market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the Custom Shoes Market By Product Type (Running Shoes, Hiking Shoes, Sports Shoes, Casual Shoes, Others) By Application (Sports, Lifestyle, Competition) By Consumer Orientation (Men, Women) By Sales Channel (Hypermarket/Supermarket, Wholesalers/Distributors, Specialty Stores, Multi-brand Stores, Independent Small Stores, Online Retailers, Other Sales Channel) & Region - Forecast to 2022-2032.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Summary of Key Findings
1.3. Summary of Key statistics
1.4. FMI Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.1.1. Millennials are Driving Force
3.1.2. Rapid Emergence of the Start-ups in Market
3.1.3. Increasing Awareness about sustainability
3.1.4. Globalization Impacting Lifestyles
3.1.5. Consumers Selecting for At-home Services, Using e-Commerce
3.1.6. Others
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About Consumer Product Division at Future Market Insights
The consumer product team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the consumer product industry, the team is happy to help with every business intelligence research and consulting requirement.
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