Business & Formal - G20
G20- Revenue in the Business & Formal market amounts to US$63.0bn in 2024. The market is expected to grow annually by 1.42% (CAGR 2024-2029).
- In global comparison, most revenue is generated China (US$18bn in 2024).
- In relation to total population figures, per person revenues of US$12.67 are generated in 2024.
- In the Business & Formal market, volume is expected to amount to 2.5bn pairs by 2029. The Business & Formal market is expected to show a volume growth of 0.9% in 2025.0.
- The average volume per person in the Business & Formal market is expected to amount to 0.50pairs in 2024.
Definition:
The Business & Formal footwear market includes shoes designed for professional and formal occasions. This segment comprises dress shoes, oxfords, loafers, and other styles that prioritize elegance, comfort, and formal aesthetics.
Additional Information:
The market consists of revenue and average revenue per capita, volume and average volume per capita, price per unit (per pair), and sales channels data. Both online and offline distribution channels are considered. Key players include Clarks, Johnston & Murphy, Allen Edmonds, and Cole Haan.
In-Scope
- Dress shoes
- Oxfords
- Loafers
- Formal pumps
Out-Of-Scope
- Casual shoes
- Athletic shoes
- Sandals
