Dublin, Nov. 03, 2023 (GLOBE NEWSWIRE) -- The "The Global Market for PVC Footwear 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global PVC footwear market is on a trajectory towards significant expansion, with an estimated worth of USD 96.87 billion by 2030 and a steady Compound Annual Growth Rate (CAGR) of 5.1% forecasted from 2023 to 2030. The PVC footwear sector thrives on its inherent versatility and durability, making it the material of choice for consumers, innovative manufacturing processes, and market evolution. PVC, or polyvinyl chloride, is a synthetic substance lauded for its robustness, versatility, and resilience, allowing for a wide range of applications. Its suitability for footwear in harsh environments, such as factories and construction sites, is attributed to its resistance to water, chemicals, abrasion, and environmental wear and tear.
Product Dominance: In 2022, the shoes segment emerged as the leader in the market, commanding a significant share. PVC, known for its strength, water resistance, and cost-effectiveness, has found favor in a diverse array of footwear types. PVC shoes offer an array of styles and designs, making them a preferred choice for customers. Their resistance to dampness makes them ideal for wet or rainy conditions, keeping feet dry and comfortable. PVC shoes are exceptionally robust and durable, rendering them suitable for indoor and outdoor activities. The material's resistance to abrasion and wear makes it fitting for demanding tasks such as hiking and workplace use.
Distribution Dynamics: The offline distribution channel reigned supreme in 2022, with consumers predominantly purchasing PVC footwear from physical retail establishments, including shoe shops, department stores, bargain stores, and specialty shoe shops. These brick-and-mortar stores offer a diverse selection of PVC shoe brands and designs, allowing customers to physically try on and purchase them. In the offline distribution of PVC footwear, wholesalers and distributors play a pivotal role. They procure large quantities of PVC shoes directly from manufacturers, subsequently distributing them to retail establishments. Wholesalers serve as intermediaries, granting retailers access to a wide range of PVC shoe options for their inventory.
Asia Pacific Appeal: In 2022, Asia Pacific secured a substantial share of the market. PVC footwear, known for its cost-effectiveness, is priced lower than footwear made from other materials, including leather or expensive synthetic fabrics. This affordability appeals to consumers across different income levels, including those with limited disposable incomes. The affordability factor allows Asian consumers to acquire multiple pairs of PVC footwear for the price of a single pair made from costlier materials. As a result, individuals can choose from a variety of shoes without straining their budgets. PVC footwear stands as a compelling alternative for consumers in the region seeking reliable, reasonably priced footwear capable of enduring daily wear and tear.
Strategic Growth Initiatives: Key companies in the PVC footwear market employ various strategies to enhance their market share, including partnerships, mergers and acquisitions, and global expansions. These endeavors aim to boost market visibility and demand for PVC footwear, ultimately contributing to increased sales.
Market Highlights:
- North American Expansion: North America is poised for substantial growth, with a substantial CAGR of 5.2% anticipated from 2023 to 2030. The region's manufacturers are focusing on innovation, market expansion, and collaborations with multinational brands, elevating the visibility and demand for PVC footwear and spurring sales.
- Flip Flop Frenzy: The flip flops segment is estimated to experience the fastest CAGR of 5.7% from 2023 to 2030. PVC's water-resistant properties make flip flops an ideal choice for water-related activities, from poolside relaxation to beach outings, driving the segment's growth.
- Online Channels Ascend: In terms of distribution channels, the online segment is projected to achieve the fastest CAGR of 6.2% from 2023 to 2030. Market growth is propelled by the increasing adoption of online shopping platforms, which offer convenience and comfort.
The PVC footwear market is set on a path of robust growth, driven by its remarkable qualities of durability and cost-effectiveness. As innovative manufacturing techniques continue to evolve and consumer demand remains strong, this market presents compelling opportunities for both industry leaders and consumers.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 72 |
| Forecast Period | 2022-2030 |
| Estimated Market Value (USD) in 2022 | $65.14 Billion |
| Forecasted Market Value (USD) by 2030 | $96.87 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
Key Topics Covered
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. PVC Footwear Market Variables, Trends & Scope
Chapter 4. Consumer Behavior Analysis
Chapter 5. PVC Footwear Market: Product Estimates & Trend Analysis
Chapter 6. PVC Footwear Market: Distribution Channel Estimates & Trend Analysis
Chapter 7. PVC Footwear Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Analysis
Companies Mentioned
- Dr. Martens plc
- Decathlon
- VKC Group
- Havaianas
- Bata Corporation
- Grendene
- Liberty Shoes
- Khadim India Ltd.
- Ajanta Shoes
- Thinge Shoes Company
For more information about this report visit https://www.researchandmarkets.com/r/6lxstc
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