The footwear market in India has seen a wide transformation over the past years on the back of fast changing retail scenario. The entry of numerous international players has resulted in providing a significant boost to the Indian footwear market. According to our recent analysis, India is regarded as the second largest global producer of footwear after China, accounting for 13% of global footwear production. India produced 2065 Million pairs of footwear in 2012-13, out of which the production of leather footwear was about 1009 Million pairs (including production of leather shoe uppers), and production of non-leather footwear was about 1056 Million pairs. Nearly 95% of India’s production goes to meet its own domestic demand.
Indian footwear industry was dominated by the unorganized sector with a share of 70% in 2012. The unorganized segment comprises of small cottage industry based manufacturers. The organized sector comprising of major domestic and international players like Bata, Liberty, Adidas and Metro etc, accounted for only 30% of the market. The organized segment is incorporating advanced technologies in footwear production to increase its share in the market.
Citing opportunity areas in the industry, Shushmul Maheshwari, CEO - RNCOS said, major opportunities lay behest the footwear market in India. For instance, domestic players can form collaborations with international players and provide their expertise of labor intensive manufacturing to them. Moreover, India can use the massive availability of raw materials like hides, skins etc to its advantage by supplying finished leather to foreign footwear players opening up stores in India, who otherwise have to import the same from other countries at high costs.
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.