Textile footwear market to see highest growth of 4.84% in 2021-2026

06 Nov '22

3 min read

Pic: Shutterstock.com

Textile footwear, i.e., footwear made of fabrics, are expected to fare better than footwear made of rubber and plastic, leather and more. The market growth of textile footwear is estimated at 4.84 per cent annually between 2021-2026. Overall global market size of footwear will grow at 3.06 per cent annually to reach 26,073.89 million pairs.

The textile footwear segment has completely recovered from the COVID-19 disruption.

The market size for textile footwear was estimated at 5,825.44 million pairs in 2015 which grew to 7,034.15 million pairs in 2019. It slipped to 6,286.22 million pairs in 2020 due to the pandemic disruption, however, it recovered again to 7,135.43 million pairs in 2021. The market size is expected to grow to 7,767.56 million pairs in 2022, 8,105.01 million pairs in 2023, 8,435.01 million pairs in 2024, 8,754.50 million pairs in 2025 and 9,037.99 million pairs in 2026, according to Fibre2Fashion’s market insight tool TexPro.

The global footwear market size was 23,000.10 million pairs in 2015 which reached 25,016.87 million pairs in 2019. But it came down to 20,399.94 million pairs in 2020. The market size increased to 22,429.72 million pairs in 2021 but could not touch the pre-COVID level, which is likely to be surpassed in 2023 when the market size reaches 24,395.10 million pairs. Global footwear market may reach 23,730.65 million pairs in 2022, 24,395.10 million pairs in 2023, 24,995.23 million pairs in 2024, 25,560.13 million pairs in 2025 and 26,073.89 million pairs in 2026, as per TexPro.

Rubber and plastic footwear market is unlikely to recover completely until 2026. It was estimated at 11,193.32 million pairs in 2019 which crashed to 9,239 million pairs in 2020 and rose again to 10,044.61 million pairs in 2021. It will grow to 10,473.95 million pairs in 2022, 10,669.52 million pairs in 2023, 10,829.36 million pairs in 2024, 10,983.26 million pairs in 2025 and 11,122.35 million pairs in 2026. Annual growth rate is expected to be 2.06 per cent during 2021-2026.

The leather footwear market will grow at 2.52 per cent annually in the same period. The segment is likely to recover from COVID impact only after 2023. The market slipped to 3,772.03 million pairs in 2020 from 4,410.89 million pairs in 2019. Although it rose to 4,052.93 million pairs in 2021, it was far below the 2019 level. The leather footwear market size is expected to reach 4,245.50 million pairs in 2022, 4,348.46 million pairs in 2023 and 4,441.64 million pairs in 2024. It may grow to 4,517.55 million pairs in 2025 and 4,590.92 million pairs in 2026, according to TexPro.

Fibre2Fashion News Desk (KUL)

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