Our latest research report entitled Formal Footwear Market (by footwear type (ballerinas, boots, brogue, derby, flat, and other footwear types), leather type (full grain, patent leather, pebble, suede leather, synthetic leather, and top grain)) provides complete and deep insights into the market dynamics and growth of formal footwear.
The latest information on market risks, industry chain structure formal footwear cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential formal footwear growth factors. According to the report, the global formal footwear market is projected to grow at a healthy CAGR over the forecast period of 2019-2025.
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Use of Modern Technologies and Materials Drive the Growth for the Formal Footwear Market
Formal footwear is generally used along with formal dress for the office, official events, business meetings, formal occasions, dance floor, parties, and some special events. Formal footwear is made of leather or synthetic leather. Boots, brogue, derby, loafer, and oxford are major types of men’s formal footwear. For men, loafers are easy to use formal footwear, while for ladies’ slip-on’s and sandals are easy to use. The designs of ladies’ formal footwear is a bit different from that of men. Heels and toes are major aspects of ladies’ formal footwear. Ballerinas, boots, flats, sandals, high heels, wedge, peep toe are some of the major types of ladies’ formal footwear.
Product innovation, expansion of distribution channels, heavy spending in branding and marketing of the products, use of modern technologies and materials drive the growth for the formal footwear market. Adopting new trends in designs among the consumers, the growing popularity of e-commerce, cumulative brand awareness among the consumers, a growing number of official and formal events in official and personal lives of people and increasing numbers of the working population are some of the major factors boosting the growth of the market.
As more women are entering professional careers in this era, the demand for the ladies’ formal footwear is expected to grow significantly during the forecast period. Increasing preference for flat-heeled footwear over high heeled footwear among ladies is expected to drive the demand for the flat-heeled formal footwear. On the contrary, increasing competition from small manufacturers with similar products as that of branded ones is the major restraints for the formal footwear market. Besides, an increasing number of women in offices worldwide and the growing spreading of western lifestyles in emerging nations are expected to provide opportunities for the market during the forecast period.
Asia-Pacific is the Dominating Region for the Formal Footwear Market
Among the geographies, Asia-Pacific is the dominating region for the formal footwear market followed by North America and Europe. Factors such as the presence of a large young population in countries such as China, India, and Indonesia among others and increasing adoption of western lifestyles among them are driving the growth of the Asia-Pacific formal footwear market. Moreover, the presence of a large number of footwear manufacturers in the region, which focuses on exports, enhances the growth of the market. In North America region factors such as the tradition of having formal wear on various occasions in North America is expected to sustain the growth for formal footwear during the forecast period.
The report on global formal footwear market covers segments such as footwear type and leather type. On the basis of footwear type, the sub-markets include ballerinas, boots, brogue, derby, flat, and other footwear types. On the basis of leather type, the sub-markets include full grain, patent leather, pebble, suede leather, synthetic leather, and top grain.
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The report provides profiles of the companies in the market such as The Aldo Group Inc., Burberry Group Plc, Calvin Klein, Inc., C&J Clark International Limited, ECCO Sko A/S, DOLCE & GABBANA S.R.L., Guccio Gucci S.p.A., Hugo Boss AG, Kenneth Cole Productions, Inc., LaCrosse Footwear Inc., and Other companies.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the formal footwear.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.