Indian Footwear Market to Grow at 9% CAGR
With increasing government initiatives, low labor cost, and entrance of international players, the Indian footwear market will surge at a CAGR of 9% during 2011-2014, RNCOS acknowledged.
- (1888PressRelease) April 06, 2011 - According to our research report "Indian Footwear Market Forecast 2014", Indian footwear sector has witnessed tremendous growth during the past few years on the back of liberalized framework and globalization of the industry. The industry is highly labor intensive and offers various advantages, such as: low labor cost, skilled working professionals etc. Moreover, with the increasing government initiatives, entrance of international players, and rise in investments, the footwear market in the country will surge at a CAGR of nearly 9% during 2011-2014.
In terms of target segments, the Indian footwear industry is dominated by men's footwear section followed by women's segment. Kids segment accounted for a very small share of nearly 11% of the Indian footwear retail market in 2010. However, the consumption trend is expected to shift more towards women's and children's footwear market. These segments, particularly women segment (as the number of working women is increasing, which simultaneously raises the demand) offer vast growth opportunities to both new as well as existing players.
Our research highlights that, the success mantras for footwear market in India lies in the advantages offered by the country, such as low labor cost, skilled working professionals etc. The footwear industry in the country ranked second around the globe after China in terms of production. Additionally, it is the main growth driver of the overall leather export from the country, with majority of the share held by footwear components and leather & non-leather footwear.
"Indian Footwear Market Forecast 2014" covers various aspects of the Indian footwear market. It presents thorough analysis of the footwear market in terms of segment (men, women, and kid), category (casuals, mass, sports & premium). Each section sufficiently explains the current and future market trends, and developments in the Indian footwear market. Our research foresees immense opportunities for various industry players including domestic as well as international.
Besides, we have comprehensively analyzed the emerging trends, such as medical shoe and e-commerce, which are expected to prevail in near future. This will help the client to understand the present and future outlook of the footwear market and developments across the country. The study also evaluates various strategies that will boost the footwear market in India.
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About RNCOS:
RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.
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