From the exquisite sandals of ancient Greece and Russia to Debbie Wingham's luxurious high heels and Antonio Vietri's $19.9 million masterpiece made of gold, diamonds, and a five-century-old meteorite fragment, today modern footwear is the fashion of society. Over the years, the global footwear industry has evolved from functional necessities to a fashion statement that reflects cultural identity and economic prosperity.
India, today, stands as the second-largest producer and consumer of footwear globally. In 2023 the footwear market was at $15.9 billion. It can easily double to $36 billion in 2030. A jump of more than 12% can be seen. This impressive growth is primarily driven by the domestic market, where an expanding middle class, urbanization, and increasing disposable income have fueled demand for stylish yet affordable footwear.
Indian consumers now seek diverse options, from handcrafted traditional footwear to international luxury brands. At the same time, advancements in manufacturing and the rise of e-commerce have enabled local brands to compete globally. Sustainable practices, such as eco-friendly materials and ethical production, are also gaining traction, reflecting the industry's evolving dynamics.
As footwear continues to transcend its utilitarian roots, it not only serves as a fashion statement but also plays a vital role in shaping economies, cultural expressions, and environmental narratives worldwide. India's booming market is poised to be a major contributor to this global transformation. The reason behind this big change is that income in the domestic market is constantly improving and people are changing.
The fashion of shoes and high heels has been going on for a long time all over the world and has become a trend. It is being said that in 2030, the footwear market can double compared to 2023 and reach $36 billion and it's big news in the footwear sector and for India country also.