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According to IMARC Group’s latest report, “GCC Footwear Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the GCC footwear market reached a value of US$ 4.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 5.6 Billion by 2027, exhibiting a CAGR of 4.27% during 2022-2027. Footwear, usually manufactured using leather, plastic, jute, rubber, canvas, wood, and fabric, refers to protective coverings worn on the feet. It encompasses sneakers, sandals, loafers, boots, flip-flops, high-heels, slippers, clogs, and shoes as standard product variants. Footwear aids in improving the physical posture of an individual, ensuring stability, preventing foot problems or pain, and providing optimal comfort. As a result, it is extensively worn by individuals for fashion purposes and to protect from various ground textures, temperatures, and gravel.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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The rising demand for convenient, comfortable, and premium footwear to enhance the appearance is primarily driving the market growth in the GCC region. This is further supported by rising disposable incomes and changing consumer preferences.
Moreover, the use of specialized leather processing by manufacturers, resulting in increased production and export of leather-made products, is supplementing the market growth in the region. Additionally, the launch of luxury footwear by brands and the extensive utilization of eco-friendly and recycled raw materials, including car tires, carpet padding, organic cotton, and vegetable-dyed leather to produce footwear, is impelling the market growth.
Moreover, the escalating penetration of the internet and the ongoing usage of e-commerce platforms to purchase goods during the COVID-19 pandemic is favoring the market growth. Besides this, the implementation of aggressive advertising strategies and the growing consumer engagement in varying athletic and sporting activities are fuelling the market growth in the region.
GCC Footwear Market Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the GCC footwear market has been studied in the report with the detailed profiles of the key players operating in the market.
The report has segmented the GCC footwear market on the basis of product, material, distribution channel, pricing, end user and country.
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Key Highlights of the Report:
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.
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.
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.
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