GCC Footwear Market Size 2023, Share, Industry Trends, Demand and Business Opportunities by 2028

IMARC Group has recently released a new research study titled "GCC Footwear Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

What is market size of GCC footwear market?

The GCC footwear market size reached US$ 4.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4.11% during 2023-2028.

Market Outlook:

Footwear is manufactured utilizing various materials, such as canvas, wood, jute, leather, rubber, plastic, etc., to offer comfort and protection to the feet. The style and quality of the product have evolved over the years with the changing fashion aesthetics and trends. Consumers prefer purchasing footwear with innovative technical fabrications, which deliver maximum comfort while adhering to the ongoing style trend. The steadily increasing demand for superior-quality products has resulted in several advancements that provide optimum support to the feet and highlight unique designs. As a result, footwear is widely available across clothing stores, supermarkets, online channels, specialty stores, hypermarkets, etc. 

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Market Trends:

The escalating establishment of popular luxury brands, which emphasize the development of unique designs while also giving importance to comfort, is among the primary factors driving the GCC footwear market. Besides this, the expanding specialized leather processing hub and the emerging trend of urbanization and industrialization in the region are further augmenting the market growth. Moreover, the growing popularity of athleisure footwear, which combines sports footwear with contemporary fineness, and the launch of the latest products with trending designs and styles are also catalyzing the market across GCC.

Apart from this, the increasing expatriate population leading to shifting aesthetic preferences among consumers and the easy accessibility through proliferating online retail channels are acting as significant growth-inducing factors. Additionally, the elevating demand for formal, casual, athletic, and fashion shoes is also stimulating the market growth. Furthermore, the rising research and development (R&D) activities for the introduction of hay-based sneakers and biodegradable, vegan stilettos are expected to bolster the GCC footwear market in the coming years.

GCC Footwear Market 2023-2028 Competitive Analysis and Segmentation:

Key Market Segmentation:

The report has segmented the GCC footwear market on the basis of product, material, distribution channel, pricing, end user and country.

Based on Product:

• Non-Athletic Footwear
• Athletic Footwear

Based on Material:

• Rubber
• Leather
• Plastic
• Fabric
• Others

Based on Distribution Channel:

• Footwear Specialists
• Supermarkets and Hypermarkets
• Departmental Stores
• Clothing Stores
• Online Sales
• Others

Breakup by Pricing:

• Premium
• Mass

Breakup by End User:

• Men
• Women
• Kids

Breakup by Country:

• Saudi Arabia
• UAE
• Qatar
• Oman
• Kuwait
• Bahrain

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Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Browse more GCC Business Report by IMARC Group:

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GCC Organic and Natural Pet Food Market: https://www.imarcgroup.com/gcc-organic-natural-pet-food-market

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About US:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.