As per newly released data by Future Market Insights (FMI), the Leather Sneakers Market is estimated at USD 449.2 million in 2022 and is projected to reach USD 697.6 million by 2032, at a CAGR of ~4.5% from 2022 to 2032.
Sneakers are well-known for their athletic capabilities, fashionable appearance, and comfort when participating in physical activities. Leather shoes, on the other hand, are regarded as exquisite and high-class footwear. Leather sneakers are the ideal blend of athleisure and formal footwear.
These shoes provide comfort and a perfect fit, with the added benefit of leather, which is weather resistant, far more durable than other materials, and has a beautiful appearance. Some trending significant factors for the leather sneakers market are post-covid effect on fashion trends and rising adoption of comfy footwear.
Customised leather sneakers are gaining popularity among big spenders and sneaker enthusiasts, helping the market to grow.
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On the other hand, it is expected that the availability of locally manufactured, replicated, or phoney products would limit market growth. Also, alternatives to the genuine leather as artificial leather made from plastic and other materials are impacting the market. Increasing awareness of the animal cruelty among people is ultimately increasing the demand for cruelty free products. The COVID-19 outbreak had many countries to regulate the import and export, ultimately affecting the raw material supply chain, posing a challenge for the Leather Sneakers industry.
“Leather sneakers are becoming increasingly popular across the world. The versatility of these shoes, as well as the desire for versatile items in the post-Covid era, will benefit the leather sneakers industry.” Says an FMI Analyst.
Impact of COVID-19 on the Market
Many sectors were temporarily closed due to the COVID-19 pandemic. Because the virus spreads through touch and air, public venues were closed. Public transit was governed by rules, and public gatherings were prohibited. Lockdown eventually led to a desire for comfier footwear. After the lockdown ended and normal life resumed, individuals began wearing sneakers, since they are both comfortable and adaptable. People wear leather shoes to be active while also getting a comfortable fit and a high-end style. Manufacturers are creating shoes for various purposes and activities, which is growing demand. The import and export of raw materials and shoes were also restricted owing to government laws in several nations. All of these variables have an impact on the Leather Sneakers market.
Who is winning?
Leading players operating in the sneaker market Hermès International S.A., Salvatore Ferragamo S.p.A., Crockett & Jones, Kering S.A., Bruno Magli, Prada Holding B.V., Cole Haan, PROVOGUE, Genesco Inc., LVMH, DModot, Allen Edmonds and among others.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the sneaker market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the leather sneakers market by closure type (lace up, zipper, slip-on, others), sole material (rubber, polyurethane, leather, others), consumer orientation (men, women, kids), sales channel (hypermarket/supermarket, wholesales/distributors, specialty stores, multi-brand stores, independent small stores, online retailers, other) & region - Forecast to 2022-2032.
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