INDUSTRIES & MARKETS

Footwear market in India

 Table of Contents

01 Global overview Share of footwear retail market India FY2015-2025, by segment 20

Share of footwear retail market India FY2015-2025, by usage 21
Revenue of the footwear market worldwide by country 2023 03
CPI of footwear in India 2022-2023 22
Revenue of the leather footwear market worldwide by country 2023 04
Number of footwear retail stores in India 2022, by brand 23
Per-capita volume sales in the footwear market worldwide by country in 2023 05
Leading footwear companies India 2024, by market capitalization 24
Worldwide leading sneaker markets by revenue 2023 06

05 Key players
02 Market overview
Revenue of Bata FY 2016-2023 26
Size of the footwear market in India 2022-2028 08
Revenue of Puma India FY 2021-2023 27
Revenue of footwear market in India 2018-2028, by segment 09
Revenue from operation of Relaxo Footwear FY 2018-2022 28
Market value of footwear retail in India FY 2015-2025 10
Revenue from operation of Campus Activewear FY 2018-2023 29
Market size of sport shoes India FY 2015-2025 11
Total revenue of Liberty Shoes FY 2019-2023 30
Production of footwear in India FY 2013-2022 12
Annual per capita footwear consumption India FY 2015-2025 13

03 International trade
Export value of footwear from India FY 2023, by leading destination 15
Import value of footwear in India FY 2023, by country of origin 16
Value of leather footwear exported from India FY 2014-2022 17
Share of leather products and footwear exports from India FY 2021, by category 18

04 Retail

1
CHAPTER 01

Global overview
 Revenue of the footwear market worldwide by country in 2023 (in billion
U.S. dollars)
Revenue of the footwear market worldwide by country 2023

Revenue in billion U.S. dollars

0 10 20 30 40 50 60 70 80 90 100

United States 88.47

China 82.82

India 24.86

United Kingdom 16.19

Brazil 14.17

Japan 11.07

Germany 10.66

Italy 9.83

France 7.04

Russia 6.7

Turkey 6.08

Mexico 6.07

South Korea 5.97

Canada 5.7

Spain 4.74

3 Description: Comparing the 15 selected regions regarding the revenue in the footwear market, the United States is leading the ranking (88.47 billion U.S. dollars) and is followed by China with 82.82 billion U.S. dollars. At the other end of the spectrum is Spain with 4.74
billion U.S. dollars, indicating a difference of 83.73 billion U.S. dollars to the United States. Read more
Note(s): Worldwide; Jan 1st to Dec 31st 2023
Source(s): Statista; Statista Consumer Market Insights
 Revenue of the leather footwear market worldwide by country in 2023 (in
million U.S. dollars)
Revenue of the leather footwear market worldwide by country 2023

Revenue in million U.S. dollars

0 5,000 10,000 15,000 20,000 25,000 30,000

United States 24,155.36

India 17,281.42

China 14,763.75

United Kingdom 6,336.95

Italy 4,426.73

Brazil 3,755.62

Germany 3,189.37

France 2,821.09

Russia 2,774.43

Pakistan 2,637.46

Canada 2,477.35

South Korea 2,375.11

Australia 2,367.49

Indonesia 2,211.57

Spain 1,971.27

4 Description: The United States is leading the ranking by revenue in the 'Leather Footwear' segment of the footwear market, recording 24.2 billion U.S. dollars. Following closely behind is India with 17.3 billion U.S. dollars, while Argentina is trailing the ranking with
603.86 million U.S. dollars, resulting in a difference of 23.6 billion U.S. dollars to the ranking leader, the United States. Read more
Note(s): Worldwide; Jan 1st to Dec 31st 2023
Source(s): Statista Consumer Market Insights
 Per-capita volume sales in the footwear market worldwide, by country in
2023 (in pieces)
Per-capita volume sales in the footwear market worldwide by country in 2023

Market volume
0 5 10 15 20 25 30 35

Hong Kong 31.95

United States 5.39

Singapore 4.93

United Kingdom 4.5

Romania 4.04

Austria 4.04

Netherlands 3.62

Australia 3.54

Italy 3.52

Lithuania 3.51

Portugal 3.49

Turkey 3.49

Slovenia 3.36

Malaysia 3.24

Belgium 3.18

5 Description: Comparing the 50 selected regions regarding the average volume per capita in the footwear market, Hong Kong is leading the ranking (31.95 pairs) and is followed by the United States with 5.39 pairs. At the other end of the spectrum is Indonesia with 0.98
pairs, indicating a difference of 30.97 pairs to Hong Kong. Read more
Note(s): Jan 1st to Dec 31st 2023
Source(s): Statista
 Leading markets for sneakers worldwide based on revenue 2023 (in
million U.S. dollars)
Worldwide leading sneaker markets by revenue 2023

Revenue in million U.S. dollars

0 5,000 10,000 15,000 20,000 25,000

United States 22,273.32

China 15,839.79

United Kingdom 3,795.42

Japan 3,172.9

Germany 2,661.34

India 2,629.19

Mexico 1,864.05

Brazil 1,665.48

Italy 1,620.19

Canada 1,415.03

France 1,309.69

South Korea 960.1

Turkey 850.8

Spain 831.69

Russia 784.51

6 Description: From the selected regions, the ranking by revenue in the 'Sneakers' segment of the footwear market is lead by the United States with 22.3 billion U.S. dollars and is followed by China (15.8 billion U.S. dollars). In contrast, the ranking is trailed by Egypt with
404.41 million U.S. dollars, recording a difference of 21.9 billion U.S. dollars to the United States. Read more
Note(s): Worldwide; Jan 1st to Dec 31st 2023
Source(s): Statista; Statista Consumer Market Insights
CHAPTER 02

Market overview
 Size of the footwear market in India in 2022, with estimates until 2028 (in
billion U.S dollars)
Size of the footwear market in India 2022-2028

35

30
30
27
Market size in billion U.S. dollars

25 24

21
20 19
17
15
15

10

0
2022 2023* 2024* 2025* 2026* 2027* 2028*

8 Description: In 2022, the market size of the footwear sector was 15 billion U.S. dollars in India. The size of the footwear market is projected to double by 2028. The growth in the apparel sector across the country is one of the main reasons for the increase in the
footwear market size. Read more
Note(s): India; 2022; *Estimates. One Indian rupee is equal to 0.011 euros and 0.012 U.S dollars (as of June 2023). Read more
Source(s): MARC
 Revenue of the footwear market in India from 2018 to 2023, with forecasts
until 2028, by segment (in billion U.S. dollars)
Revenue of footwear market in India 2018-2028, by segment

Athletic Footwear Leather Footwear Sneakers Textile & Other Footwear

25
22
21
20
20 19
18
Revenue in billion U.S. dollars

17 17
16
15
15
12 12

10

5 4 4 4 4
3 3 3 3 3 3 3 3
2 2 2 2 2 2 2 2 2 2
1 1 1

0
2018 2019 2020 2021 2022 2023 2024* 2025* 2026* 2027* 2028*

9 Description: In 2023, the leather footwear segment recorded the highest market revenue, which amounted to 17 billion U.S. dollars in India. Subsequently, textile and other footwear segment reported a total revenue of three billion dollars in the same year. The main
reason for increased revenue from the leather footwear segment is due to the easy affordability in the Indian market. Read more
Note(s): Indonesia; 2018 to 2023; *Forecasts. Data reflects the market impacts of the Russia-Ukraine war. Read more
Source(s): Statista Market Insights
 Value of footwear retail market in India from financial year 2015 to 2021,
with estimates until 2025 (in billion Indian rupees)
Market value of footwear retail in India FY 2015-2025

1,200

1,050

1,000
Value in billion Indian rupees

800
720
648

600
475 480

400

200

0
FY 2015 FY 2020 FY 2021 FY 2022* FY 2025*

10 Description: The footwear retail market in India was valued at 480 billion Indian rupees in financial year 2021. This was a significant decrease as compared to the previous fiscal year. The market is estimated to grow to one trillion rupees by the financial year 2025.
Read more
Note(s): India; FY 2015 to FY 2021; *Provisional India's financial year begins in April and ends in March. For example, FY 2022 started in April 2021 and ended in March 2022. One Indian rupee is equal to 0.012 euros and 0.013 dollars (as of [...] Read more
Source(s): Campus Activewear
 Sports footwear market size in India from financial year 2015 to 2021, with
estimates until 2025 (in billion Indian rupees)
Market size of sport shoes India FY 2015-2025

250

220

200
Market size in billion Indian rupees

150
124
110

100 90

56
50

0
FY 2015 FY 2020 FY 2021 FY 2022* FY 2025*

11 Description: The estimated size of the sports footwear market was valued at 124 billion Indian rupees during the financial year 2022 in India. The industry's market size is likely to double by the financial year 2025. The famous Indian athletic shoe brands are Bata,
Campus, and Khadim. Read more
Note(s): India; FY 2015 to FY 2021; *Estimate. India's financial year begins in April and ends in March. For example, FY 2023 started in April 2022 and ended in March 2023. One Indian rupee is equal to 0.011 euros and 0.012 dollars (as of June 2023). Read more
Source(s): Motilal Oswal Group; Technopak Advisors
 Production of footwear in India from financial year 2013 to 2022 (in million
pairs)
Production of footwear in India FY 2013-2022

300
268.88 269.17 273.62
263.68 261.22 261.35

250 237.19
230.1 230.73
219.3
Production in million pairs

200

150

100

50

0
FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022

12 Description: During financial year 2023, over 219 million pairs of footwear were produced in India. The highest production with about 274 million footwear pairs was observed in the financial year 2019. Relaxo Footwears was the leading footwear brand in the country
based on market capitalization. Read more
Note(s): India; FY 2013 to FY 2022
Source(s): CMIE; Infomerics
 Per capita footwear consumption across India for financial year 2015 and
2020, with estimates for 2021 and 2025
Annual per capita footwear consumption India FY 2015-2025

2.5

2.1

2.0 1.9
Consumption per capita

1.6

1.5

1.2

1.0

0.5

0.0
FY 2015 FY 2020 FY 2021* FY 2025**

13 Description: In financial year 2021, the estimated footwear consumption per capita was 1.2 pairs in India. There was a decrease in consumption as compared to the previous financial year. The market size of the footwear industry was estimated to be 660 billion Indian
rupees in the same year. Read more
Note(s): India; FY 2015 and FY 2020; *Estimate. **Projection. India's financial year begins in April and ends in March. For example, FY 2023 started in April 2022 and ended in March 2023. Read more
Source(s): Motilal Oswal Group
CHAPTER 03

International trade
 Export value of footwear from India in financial year 2023, by leading
destination (in million U.S. dollars)
Export value of footwear from India FY 2023, by leading destination

Export value in million U.S. dollars

0 5 10 15 20 25 30 35 40

France 34.5

United States 31.36

Germany 21.17

China 13.73

United Arab Emirates 13.66

Somalia 7.95

Nigeria 6.95

United Kingdom 6.07

Netherlands 4.42

Argentina 3.51

15 Description: The main destination for footwear exports from India was France, with an export value of over 34 million U.S. dollars in the financial year 2023. Followed by the United States and Germany, with an export value of over 31 million dollars and 21 million
dollars, respectively. Read more
Note(s): India; FY 2023
Source(s): Department of Commerce (India)
 Import value of footwear in India in financial year 2023, by country of
origin (in million U.S. dollars)
Import value of footwear in India FY 2023, by country of origin

Import value in million U.S. dollars

0 20 40 60 80 100 120 140 160 180 200

Vietnam 181.26

China 114.45

Bangladesh 48.81

Indonesia 40.05

Hong Kong 7.66

Cambodia 6.87

Nepal 6.29

Singapore 5.78

United Arab Emirates 4.54

Spain 2.97

16 Description: During financial year 2023, most of the footwear imported to India came from Vietnam with an import value of over 181 million U.S. dollars. This was followed by China with an import value of over 114 million dollars. Read more
Note(s): India; FY 2023
Source(s): Department of Commerce (India)
 Export value of leather footwear in India from financial year 2014 to 2022
(in million U.S. dollars)
Value of leather footwear exported from India FY 2014-2022

2,500
2,277.52
2,147.98 2,193.86 2,195.47
2,128.87 2,085.46
2,035.45 2,047.08
2,000
Export value in million U.S. dollars

1,717.24 1,693.89

1,485.64
1,500

1,000

500

0
FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022

17 Description: The export value of leather footwear from India in fiscal year 2022, amounted to more than two billion U.S. dollars. The leather products market in the country saw a structural change in the last two decades bringing focus to the exports of value added
goods. Nevertheless, the value of leather footwear remained relatively stable. Read more
Note(s): India; FY 2014 to FY 2022
Source(s): Department for Promotion of Industry and Internal Trade (India)
 Share of exports of leather products and footwear from India in financial
year 2021, by category
Share of leather products and footwear exports from India FY 2021, by category

Saddlery and harness 5.06%

Non leather footwear 5.27%
Footwear components 5.37%

Leather garments 8.03% Leather footwear 40.35%

Finished leather 10.27%

Leather goods 25.65%

18 Description: In fiscal year 2021, the export of leather footwear in India accounted for the highest share of exports among the various leather product categories. Leather footwear had an export share of 40.35 percent, while the export share of leather goods was 25.65
percent. Read more
Note(s): India; FY 2020
Source(s): Council for Leather Exports; DGCI&S
CHAPTER 04

Retail
 Share of footwear retail market in India from financial year 2015 to 2021,
with estimates until 2025, by segment
Share of footwear retail market India FY2015-2025, by segment

Men's footwear Womens's footwear Kid's footwear

1.2%

1%
9% 10% 10% 11%
Share of footwear market

0.8%
37% 40% 38%
44%
0.6%

0.4%

54% 50% 52%

0.2% 45%

0%
FY 2015 FY 2020 FY 2021 FY 2025*

20 Description: The share of men's footwear in the footwear retail market was highest at 52 percent in fiscal year 2021. In comparison, the share of women's footwear was 38 percent and the share of kid's footwear was 10 percent during the same year. Read more
Note(s): India; FY 2015 to FY 2021; *Provisional India's financial year begins in April and ends in March. For example, FY 2022 started in April 2021 and ended in March 2022. Read more
Source(s): Campus Activewear
 Share of footwear retail market in India from financial year 2015 to 2021,
with estimates for 2022 and 2025, by usage
Share of footwear retail market India FY2015-2025, by usage

Casual Sports and athleisure Formal Outdoor

1.2%

1% 6% 4%
6% 4% 5%
10% 10% 11%
13% 13%
Share of footwear market

0.8%
12% 19% 19%
15% 21%

0.6%

0.4%
69% 67% 68% 66% 63%

0.2%

0%
FY 2015 FY 2020 FY 2021 FY 2022* FY 2025*

21 Description: The share of casual shoes in the footwear retail market was highest at 68 percent in the fiscal year 2021. In comparison, the share of outdoor shoes was the lowest at four percent during the same year. Read more
Note(s): India; FY 2015 to FY 2021; *Provisional India's financial year begins in April and ends in March. For example, FY 2022 started in April 2021 and ended in March 2022. Read more
Source(s): Campus Activewear
 Consumer Price Index (CPI) of footwear across urban and rural India from
March 2022 to March 2023
CPI of footwear in India 2022-2023

Rural Urban All India

190

185

180
Consumer Price Index

175

170

165

160

155

150

145
March 2022 April 2022 May 2022 June 2022 July 2022 August September October November December January February March 2023
2022 2022 2022 2022 2022 2023 2023*

22 Description: As of March 2023, the Consumer Price Index (CPI) for footwear across the country was nearly 179, meaning it had increased by approximately 79 percent since 2012. The CPI measures the change in consumer prices of goods and services purchased by
households across India over time. Read more
Note(s): India; March 2022 to March 2023; Base year 2012 = 100; *Provisional. Read more
Source(s): MOSPI
 Number of footwear retail stores across India as of September 2022, by
brand
Number of footwear retail stores in India 2022, by brand

Number of stores
0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000

Bata India 1,814

Khadim India 785

Metro 624

Liberty Shoes 400

Relaxo 394

Puma Sports 370

Adidas India 353

Mirza India 276

Sketchers 223

Reebok India 216

Nike India 150

Crocs India 100

Clarks 50

Inc5 Shoes 49

M&B Footwear 2

23 Description: In 2022, with over 1800 stores Bata India had the highest number of retail stores among footwear brands across India. This was followed by Khadim India and Metro with 785 and 624 retail stores respectively. The leading footwear brand based on market
capitalization was Relaxo Footwears Ltd in the same year. Read more
Note(s): India; September 2022
Source(s): Motilal Oswal Group
 Leading footwear companies in India as of January 2024, by market
capitalization (in billion Indian rupees)
Leading footwear companies India 2024, by market capitalization

Market capitalization in billion Indian rupees

0 50 100 150 200 250 300 350 400

Metro Brands 346.62

Relaxo Footwears 222.77

Bata India 202.29

Campus Activewear 88.08

Mirza International 7.92

Khadim India 6.38

Liberty Shoes 5.01

Bhartiya International Limited 3.79

Superhouse Limited 2.79

Lehar Footwears 2.39

24 Description: As of 2024, the leading footwear company was Metro Brands with a market capitalization of over 346 billion Indian rupees. It was followed by Relaxo Footwears with a market capitalization of over 222 billion Indian rupees. Read more
Note(s): India; January 2024
Source(s): Business Standard
CHAPTER 05

Key players
 Revenue of Bata India Limited from financial year 2016 to 2023 (in billion
Indian rupees)
Revenue of Bata FY 2016-2023

40

34.52
35
30.53
29.28
Revenue in billion Indian rupees

30
26.36
24.97
24.18 23.88
25

20
17.07

15

10

0
FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023

26 Description: In financial year 2023, the revenue of Bata India Ltd. amounted to about 34.52 billion Indian rupees compared to about 30 billion Indian rupees in 2020 in India. There was a steady increase in revenue from 2016 to 2020. Bata India Ltd. is the largest
retailer and manufacturer of footwear in India. Read more
Note(s): India; FY 2016 to FY 2023
Source(s): BSE (India)
 Revenue of Puma India from financial year 2021 to 2023 (in billion Indian
rupees)
Revenue of Puma India FY 2021-2023

35

29.8
30
Revenue in billion Indian rupees

25

20.44
20

15
12.15

10

0
FY 2021 FY 2022 FY 2023

27 Description: Puma India reported an annual revenue of about 30 billion Indian rupees in the financial year 2023. The company's revenue more than doubled in comparison to the fiscal year 2021. The German sportswear brand had the highest overall sales than the
combined sales of its competitors Nike, Adidas, and Reebok. Read more
Note(s): India; FY 2021 to FY 2023
Source(s): The Economic Times
 Revenue from operation of Relaxo Footwear Limited from financial year
2018 to 2022 (in billion Indian rupees)
Revenue from operation of Relaxo Footwear FY 2018-2022

30
26.53

25 24.11 23.59
22.97
Revenue in billion Indian rupees

19.57
20

15

10

0
FY 2018 FY 2019 FY 2020 FY 2021 FY 2022

28 Description: The operating revenue of Relaxo Footwear was about 27 billion Indian rupees in the financial year 2022, with an increase in comparison to the previous year. Relaxo Footwear is one of the leading footwear companies in India. Read more
Note(s): India; FY 2018 to FY 2022
Source(s): Motilal Oswal Group
 Revenue from operation of Campus Activewear Limited from financial year
2018 to 2023 (in billion Indian rupees)
Revenue from operation of Campus Activewear FY 2018-2023

16
14.84

14

11.94
Revenue in billion Indian rupees

12

10

8 7.32 7.11
5.95
6 5.1

0
FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023

29 Description: Campus Activewear reported an operating revenue of about 15 billion Indian rupees during the financial year 2023. This was an increase as compared to the previous year, when revenue from operation was around 12 billion rupees. Campus Activewear
Ltd is a major athletic and casual shoe retailer in India. Read more
Note(s): India; FY 2018 to FY 2023
Source(s): Campus Activewear
 Total revenue of Liberty Shoes Limited from financial year 2019 to 2023 (in
billion Indian rupees)
Total revenue of Liberty Shoes FY 2019-2023

7
6.53 6.55
6.03
6
Revenue in billion Indian rupees

4.88
5 4.59

0
FY 2019 FY 2020 FY 2021 FY 2022 FY 2023

30 Description: Liberty Shoes Ltd reported overall revenue of over six billion Indian rupees during the financial year 2023. There was an increase in the company's revenue as compared to the previous financial year. Liberty Shoes is an Indian footwear manufacturing
company and has global presence in over 25 countries. Read more
Note(s): India; FY 2019 to FY 2023
Source(s): The Economic Times
 Sources

BSE (India)
Business Standard
Campus Activewear
CMIE
Council for Leather Exports
Department for Promotion of Industry and Internal Trade (India)
Department of Commerce (India)
DGCI&S
Infomerics
MARC
MOSPI
Motilal Oswal Group
Statista
Statista Consumer Market Insights
Statista Market Insights
Technopak Advisors
The Economic Times

31