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.
Customized leather sneakers are gaining popularity among big spenders and sneaker enthusiasts, helping the market to grow.
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.
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Key Takeaways from the Sneaker Market Study
- The lace-up leather sneakers are the popular type among all the different shoes type. The lace-up shoes are mostly preferred, as sneakers are known for their excellent fitting and comfort while different activities. The laces help in holding the shoes and also add classy looks to the shoes.
- PU and leather soles are common for the leather sneakers. PU sole is used in the shoes which are specially designed for athletic activities and for additional comfort. Leather soles are common in bespoke shoes.
- Men’s leather sneakers are in higher demand than children’s and women’s Leather Sneakers. Men are preferring leather sneakers, as they are involved in more physically active lifestyle and schedule, along with fashion preferences.
- In the case of regional analysis of regions like the North America and Asia is expected to gain traction in the Leather Sneakers market.
“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.
Leather Sneakers Market by Category
By Closure Type, Leather Sneakers Market is segmented as:
- Lace Up
- Zipper
- Slip-on
- Others
By Sole Material, Leather Sneakers Market is segmented as:
- Rubber
- Polyurethane
- Leather
- Others
By Consumer Orientation, Leather Sneakers Market is segmented as:
- Men
- Women
- Kids
By Sales Channel, Leather Sneakers Market is segmented as:
- Hypermarket/Supermarket
- Wholesalers/Distributors
- Specialty Stores
- Multi-brand Stores
- Independent Small Stores
- Online Retailers
- Other Sales Channel
By Region, Leather Sneakers Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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