Luxury Footwear Market

Luxury shoemakers only use premium materials such as genuine leather, wood, or canvas. Every component is made of costly materials, from the welt to the wheeling and the toe cap to the back trap. The luxury footwear market can be divided into three categories based on the type of product: dress, sports, and casual. Running shoes, basketball shoes, football boots, and tennis shoes are all sports footwear. Loafers, moccasins, and sandals are examples of casual footwear.

The luxury footwear market is divided into three regions: Europe, Asia-Pacific, and North America. Europe dominates the luxury footwear market, with a market share of more than **% in 2018. Because of rising demand from emerging markets such as China and India, the Asia-Pacific region is expected to grow faster than other regions. North America is expected to grow slower due to this region's high market saturation.

The luxury footwear market is growing because of rising disposable income in China and India, more consumer awareness of luxury lifestyle options, changing fashion trends, and increasing demand for fashionable shoes among celebrities and high-end consumers.

The market has been subjected to numerous disruptions due to technological advancements and changing consumer lifestyles. These disruptions resulted in an increased focus on quality over quantity and increased spending on custom-made footwear and high-end shoes.

The global luxury footwear market is dominated by companies like Nike (US), Adidas AG (Germany), Puma SE (Switzerland), and Reebok International Ltd. (Netherlands), among others.