Market Analysis
Soles of Growth: India's Footwear Industry Treads Towards Global Prominence
The Indian footwear industry, projected to grow to Rs 1,050 billion by FY25 at an 8% CAGR, is expanding due to increased consumer aspirations, rising disposable incomes, and a larger retail share. Dominated by open footwear, the sector sees growth in branded sales and ASP, particularly in women's footwear. Aiming for a global market share of 10% by 2030, India is enhancing product quality and exports, supported by government duties. Key players like Metro Brands, Relaxo Footwear, and Bata India are focusing on strategic growth, premiumization, and manufacturing excellence.
April 19, 2024
7 mins
by
Aman Baheti