The footwear industry is one of the fastest-growing industries in India. A flourishing economy, rise in spending power, and income growth are some of the reasons why Indians have become active footwear consumers who are constantly seeking high-quality footwear.
The future of the INDIAN footwear industry
The Indian footwear industry comprises leather and non-leather footwear products with the non-leather segment constantly growing at a fast pace in terms of volumes.
Ever since the relaxation of pandemic lockdowns throughout the world, consumers are once again actively looking for smart footwear options for their home and outside wear. As people have slowly resumed their normal lifestyle of exercising, visiting the gym and socialising, etc., the demand for casual, formal, and sports footwear for the home, office and gym is on an upward spiral.
According to projections and a 2030 report, by the global footwear market, there is expected to be a 29.7% growth in footwear demand between 2022 to 2030.
Safe to say the Indian footwear industry will be responsible for creating many new job opportunities and helping with overall economic growth.
Athleisure: the growing trend
Athleisure is a concept that has caught fire in the current times. Athleisure simply refers to a mix of ‘sports’ and ‘leisurewear’.
As individuals are becoming more and more fitness conscious, going to the gym, and adopting a healthy lifestyle, the idea of wearing fitness footwear outside the gym is also becoming common.
That’s why footwear consumers are turning to Athleisure footwear which is great for daily fitness and casual wear needs.
Looking INDIA wards
India has become a preferred destination for international buyers. The move away from China means that the market is steadily growing and if sustained, there can be a market growth worth eight times!
Conclusion
The Indian footwear industry has recovered from the pandemic slowdown with people resuming their normal life. As a result, there is an upswing in the footwear demand, be it for sports, gym, office wear, or casual wear. If such market growth gets sustained, the Indian footwear industry is all set to grow eight-fold by 2030.
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