The scope of the global Loafers Market was priced at US$ 24.1 billion in the year 2018 and is projected to touch US$ 31.4 billion by 2025. It is estimated to grow at a 3.8% CAGR by the completion of the prediction period.
Market Overview:
Increasing necessities for comfortable and fashionable footwear amongst the middle-aged employed people is endorsing the usefulness of loafers. Loafers are measured to be a suitable and easy footwear among diverse age-groups having features together with not excessively fitted in the heel and cooler to wear off and on. The Generation X and Millennial populace have a preference to buying fashionable, upmarket, and comfortable shoes. Leather shoes are broadly looked upon as the first-class product and they inhabit a decent sized quantity in the market.
Key Players:
Allen Edmonds Corporation,
Relaxo Foot wears Limited,
Hush Puppies,
Wolf and Shepherd,
BACCA BUCCI FASHIONS PVT. LTD
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Growth Drivers:
As per the observation it is found that men are the most important clienteles of loafers. They wear these as substitutes to formal shoes, together with having a fashionable element. The companies are capitalizing in branding and advertising actions to upsurge their range to the purchaser. They are capitalizing in fashion displays and uploading videos of the product on social media to fascinate additional customers.
During the previous a small number of years, increasing number of employed class, together with growing expenses on private outfit comprising footwear products in the emerging financial prudence comprising India and China, is likely to encourage the scope of the market for loafers. The companies together with Hush Puppies and Woodland are growing their range of the product. This is enticing the customers to expend more on the sector of footwear. Approximately the widely held loafers’ category obtainable in the market are folded leather, velvet slippers, black calf, tassel, suede leather, foot bed slip, and no lace casual.
Loafers Product Outlook (Revenue, USD Billion, 2015 - 2025)
- Leather
- Fabric
- Others
Loafers Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
- Supermarkets & Hypermarkets
- Specialty Stores
- Online
Growing number videos on fashion style on satellite television and on the platforms of social media by way of fashion professionals is estimated to indorse the consciousness between the purchasers. Accordingly, the customers are likely to upsurge the expenditure on the best products together with penny loafers and canvas loafers as a portion of their fashion smartness.
Classification:
The global loafers market can be classified by Delivery Network, Product, and Region. By Delivery Network, it can be classified as Online Market, Hypermarkets & Supermarkets, and Specialty Stores. By Product, it can be classified as Fabric, Leather and Others.
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