Press release
Women's Luxury Footwear Market is Projected to Surpass US$ 39 Bn by 2029 | FMI
The market for women's luxury footwear is currently worth close to US$ 30 Bn in 2022, and is projected to close in on a valuation of US$ 39 Bn by 2029, rising at a steady CAGR of 5% from 2022 to 2029.Globally, there were 22.4 million HNWIs, and in 2021, their combined wealth totaled US$ 61,275 billion. With over 5.6 million HNWIs, Europe had the highest pace of HNWI population increase. As a result, people have large purchasing power. Additionally, the rise in the number of working women and the inclusion of women in the labour force in nations like Japan, the UK, and France contribute.
In 2022, worldwide sales of women's luxury footwear are mostly contributed by sandals and flats casual as compared to other categories (boots, heels & pumps, and casual, sneakers & sports shoes) in the market.
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Key Takeaways - Women's Luxury Footwear Market
Europe is expected to remain prominent in the global women's luxury footwear market, owing to high concentration of luxury footwear manufacturers such as JIMMY CHOO PLC, Hermes, Christian Dior, Gucci, Chanel, etc.
The sandals & flats segment is considered as key attributor to the global women's luxury footwear market, which can be attributed to their availability in wide variety of designs.
High exposure of consumers in websites such as Amazon, Walmart, etc., with 10% online penetration rate, support online retail in becoming the most lucrative sales channel.
Increasing number of high-net-worth individuals (HNI) led to a surge in demand for custom footwear. Advancements in technology such as 3D printing and advanced sensors would also push manufacturers to introduce innovative shoe designs.
Top Trends in Women's Luxury Footwear Market
The women's footwear market contributes high market revenue share as compared to men's. Changing lifestyle, growing fashion concern, and celebrity endorsement have a significant impact on the global footwear market. The recent market trends in luxury footwear are - sustainable footwear, smart shoes, and athleisure trends. Different types of prints with huge popularity in the past include animal print boots, florals print, minimalist style heels, feather heels, bright chunky sneakers, big toe sandals, etc.
Competitive Landscape Analysis
The report highlights some prominent players in the global women's luxury footwear market, which include Kering, Burberry, Caleres, Jimmy Choo PLC, and others. Market players primarily focuses on product design and innovation. Maison Baum, a Germany-based luxury footwear manufacturer, launched a pain free high heel in Q1 2019. The company uses its patented footbed technology and an insole with anatomical elevations to shift wearers' weight from the ball of the foot.
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Key Segments of Women's Luxury Footwear Industry Survey
Women's Luxury Footwear Market by Product:
Women's Luxury Boots
Women's Luxury Heels & Pumps
Women's Luxury Sandals & Flats
Women's Luxury Casuals, Sneakers & Sports Shoes
Women's Luxury Footwear Market by Material:
Rubber Footwear
Leather Footwear
Polyester Footwear
Velvet Footwear
Canvas Footwear
Textile Footwear
Others
Women's Luxury Footwear Market by Price Range:
US$ 300-499
US$ 500-699
US$ 700-999
US$ 1,000-1,299
US$ 1,300-1,599
US$ 1,600 & Above
Women's Luxury Footwear Market by Sales Channel:
Offline Sales of Women's Luxury Footwear
Department Stores
Specialty Stores
Monobrand Stores
Off-price Stores
Others
Online Sales of Women's Luxury Footwear
Women's Luxury Footwear Market by Region
North America Women's Luxury Footwear Market
Latin America Women's Luxury Footwear Market
Europe Women's Luxury Footwear Market
East Asia Women's Luxury Footwear Market
South Asia & Pacific Women's Luxury Footwear Market
Middle East & Africa (MEA) Women's Luxury Footwear Market
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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