Custom Shoes Market Worldwide Opportunities, Driving Forces, Future Potential 2023-2030
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| Custom Shoes Market |
The global Custom Shoes Market is estimated to be valued at US$ 5.03 billion in 2022 and is expected to exhibit a CAGR of 11.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Custom shoes are specially designed footwear made according to individual's requirements and needs such as preferences related to style, size, color, material etc. Custom shoes offer superior comfort and perfect fit along with aesthetic appeal. The growing demand for customized and personalized products is driving the demand for custom shoes market.
Market key trends:
One of the major trends in the custom shoes market is the increasing preference for vegan and eco-friendly shoes. Consumers are increasingly opting for sustainable and environmentally friendly shoes made from recycled and natural materials such as bamboo, cork and coconut fibers. Prominent custom shoes brands are focusing on launching product lines made from alternative plant-based and recycled materials to cater to the growing demand. For instance, Veja produces custom sneakers made from recycled plastic bottles and wild rubber. Such initiatives are fueling the growth of custom shoes market.
Segment Analysis:
The global custom shoes market is dominated by the sports shoes segment, which accounted for nearly 35% of the total market share in 2023. The dominance of the sports shoes segment can be attributed to the rising participation in sports and fitness activities across the world. With increasing health consciousness among people of all ages, the demand for customized sports shoes that offer enhanced comfort, support and performance has been growing steadily. Within the sports shoes segment, running shoes was the largest sub-segment in 2023 due to rising popularity of running and jogging as fitness activities.
Key Takeaways:
The global Custom Shoes Market Demand was valued at US$ 5.03 billion in 2023. It is expected to witness high growth, exhibiting a CAGR of 11.8% over the forecast period from 2023 to 2030, driven by increasing consumer preference for customized products that cater to individual requirements.
Regional analysis: North America dominated the global custom shoes market in 2023 with a share of over 30%, followed by Europe. North America is expected to continue its dominance during the forecast period owing to growing health consciousness and participation in sports & fitness activities in the region. The market in Asia Pacific is projected to grow at the fastest CAGR during the same period, supported by rising disposable incomes, expanding middle class population and increasing penetration of global footwear brands in developing countries such as China and India.
Key players: Key players operating in the custom shoes market are Nike, Adidas, New Balance, Puma, Asics, Skechers, Vans, Converse, Sperry, Crocs, Timberland, Clarks, ECCO, Wolverine Worldwide, Deckers Brands, Aldo Group, Genesco, Steve Madden, Caleres, and GEOX. Nike dominates the global market, leveraging its strong distribution network and continuous focus on product innovation through customization. Adidas follows in terms of market share, spearheading the trend of personalized shoes with its "miadidas" platform.
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