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NEW YORK, Dec. 20, 2022 /PRNewswire/ — Technavio categorizes the global high heels footwear market as a part of the global footwear market. The parent, global footwear, the market covers products and companies engaged in the production of athletic and non-athletic footwear for various age groups and gender. The global high heels footwear market size is estimated to increase by USD 2.39 billion from 2022 to 2027. The market’s growth momentum will accelerate at a CAGR of 1.88%.
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Global high heels footwear market – Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –
Global high heels footwear market – Vendor analysis
Vendor Landscape – The global high heels footwear market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer high heels footwear in the market are ACI Footwear, Brian Atwood, Christian Louboutin, Deeasjer Ltd, ECCO Sko AS, Gianni Versace Srl, Hermes International SA, Kering SA, LVMH Moet Hennessy Louis Vuitton SE, Manolo Blahnik International Ltd, Marks and Spencer Plc, Prada Spa, Steven Madden Ltd, Tapestry Inc., Theory, Unlimited Footwear Group BV, Valter Shoes Co, Vestiaire Collective, Yull Ltd, and Zara Footwear Pvt. Ltd. and others.
The global high heels footwear market is at its growing stage. This implies that the market in focus is characterized by the premiumization of high heels footwear, evolving shopping behavior, and a rise in demand from developing countries.
Vendor offerings –
Global high heels footwear market – Segmentation assessment
Segment overview
Technavio has segmented the market based on distribution channel (offline and online), type (1-1.75, 2-2.75, 3-3.75, and 4-4.75), and geography (APAC, North America, Europe, Middle East and Africa, and South America).
Geography Overview
By geography, the global high heels footwear market is segmented into APAC, North America, Europe, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global high heels footwear market.
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Global high heels footwear market – Market dynamics
Leading drivers – The premiumization of high heels footwear is the key factor driving global high heels footwear market growth. Due to high disposable money and celebrity sponsorships of many footwear brands, the market for premium footwear is anticipated to grow quickly. Sales of premium footwear are also boosted by improvements in the production of footwear and innovative product designs. High heel footwear has evolved with fashion products to become a luxury item rather than a need, which is the main cause of the high cost of these items. In order to draw customers, some other business owners, like jewelers, also produce high-end footwear. As a result, over the projected period, the premiumization of high heels footwear will be one of the key market drivers.
Key trends – Increased online sales are the primary trend in the global high heels footwear market. When compared to the offline segment, the online segment is anticipated to grow at the highest rate during the projection period. The two biggest factors that will boost online sales are quick delivery services and affordable rates. These platforms enable new competitors to enter the market with low financial resources. During the predicted period, this will increase demand for high-heeled shoes.
Major challenges – The increased cost of production is a major challenge to the global high heels footwear market growth. The two main reasons that increase the cost of production are rising labor expenses and rising raw material prices. One of the major raw materials used in the manufacturing of high heel shoes is ethylene-vinyl acetate (EVA). Recent years have seen significant variations in the price of EVA, driving up the cost of production. A major challenge that raises the cost of production is rising labor costs. Due to the low cost of labor, several shoe manufacturers have moved their manufacturing operations to China and India. Due to the relocation of manufacturing facilities and rising labor costs, several footwear makers have had to adjust to losses. Hence, all these factors are major restraints for the market during the forecast period.
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High Heels Footwear Market Scope
Report Coverage
Details
Page number
163
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 1.88%
Market growth 2023-2027
USD 2.39 billion
Market structure
Fragmented
YoY growth 2022-2023 (%)
1.43
Regional analysis
APAC, North America, Europe, Middle East and Africa, and South America
Performing market contribution
APAC at 47%
Key countries
US, China, UK, Germany, and France
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
ACI Footwear, Brian Atwood, Christian Louboutin, Deeasjer Ltd, ECCO Sko AS, Gianni Versace Srl, Hermes International SA, Kering SA, LVMH Moet Hennessy Louis Vuitton SE, Manolo Blahnik International Ltd, Marks and Spencer Plc, Prada Spa, Steven Madden Ltd, Tapestry Inc., Theory, Unlimited Footwear Group BV, Valter Shoes Co, Vestiaire Collective, Yull Ltd, and Zara Footwear Pvt. Ltd.
Market dynamics
Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Browse for Technavio “Consumer Discretionary” Research Reports
Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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