Footwear market in India - statistics & facts
The focus of consumers on footwear has steadily shifted away from function to fashion. India is the second largest producer of footwear after China, with over 219 million pairs of footwear produced during the financial year 2022. Meanwhile, Chennai, Ambur, and Ranipet were the main footwear-producing centers in the country.
The Indian footwear market has been growing rapidly because of increased disposable income and style-conscious consumers. Hence, the market is estimated to be worth about 17 billion U.S. dollars in 2023. Footwear consumption and urbanization aided in driving the market growth. The annual per capita footwear consumption was 1.2 pairs in the financial year 2021. Moreover, as a part of the Make in India initiative, the Indian government has identified the footwear industry as a priority.
Since the pandemic, having an online presence has been essential for many brands and the footwear sector is no different. An omnichannel approach is increasingly used by even smaller companies and players to increase their reach to consumers. More accessibility, ease of use, and price optimization indicate that consumers can make better purchasing decisions.
The German sportswear brand Puma has recorded a 46 percent increase in revenue and had the highest overall sales than the combined sales of its competitors Nike, Adidas, and Reebok. In addition, Puma has partnered with the Indian Premier League (IPL) team Royal Challengers Bangalore (RCB). The brand has launched sporting merchandise for die-hard RCB fans ultimately resulting in increased sales.
The Indian footwear market has been growing rapidly because of increased disposable income and style-conscious consumers. Hence, the market is estimated to be worth about 17 billion U.S. dollars in 2023. Footwear consumption and urbanization aided in driving the market growth. The annual per capita footwear consumption was 1.2 pairs in the financial year 2021. Moreover, as a part of the Make in India initiative, the Indian government has identified the footwear industry as a priority.
Retail market outlook
Like apparel, footwear customs have also been influenced by different ethnic and cultural groups as you move from one state to another in India. The most common traditional footwear are kohlapuri chappal (open-toed leather sandal), jutis (embroidered leather footwear), and paduka (ancient wooden footwear). These footwear are usually paired with traditional apparel, highlighting the essence of the Indian outfit. Some of the traditional footwear, such as the Kohlapuri chappal, are made of original leather, contributing to the growth of the leather industry.Since the pandemic, having an online presence has been essential for many brands and the footwear sector is no different. An omnichannel approach is increasingly used by even smaller companies and players to increase their reach to consumers. More accessibility, ease of use, and price optimization indicate that consumers can make better purchasing decisions.
Domestic and International players
The majority of the footwear market is dominated by domestic brands due to affordability. In 2023, Relaxo Footwears was the leading footwear company in India, followed by Bata and Campus Activewear. However, the demand for branded items has increased considerably across all categories, especially footwear. The rise in the young populace and the growing middle class are the major growth drivers for brands in India.The German sportswear brand Puma has recorded a 46 percent increase in revenue and had the highest overall sales than the combined sales of its competitors Nike, Adidas, and Reebok. In addition, Puma has partnered with the Indian Premier League (IPL) team Royal Challengers Bangalore (RCB). The brand has launched sporting merchandise for die-hard RCB fans ultimately resulting in increased sales.
