As per a newly released report by Future Market Insights (FMI), the United Kingdom women’s footwear market is expected to be worth US$ 2,124.7 million in 2023 and US$ 3,751.8 million by 2033. It is set to expand at a 5.9% CAGR in the evaluation period from 2023 to 2033.
The United Kingdom women’s footwear industry is undergoing remarkable growth, fuelled by various factors that are reshaping the industry. One of the key drivers is rising women’s employment in the United Kingdom. Women having the financial means to spend on fashion and sneakers boots might also penetrate demand for footwear in the country.
Women’s footwear demand is expected to surge in the forecast period, driven by growth of e-commerce and online retail channels. These provide a convenient and extensive range of products, enabling consumers to compare options and make informed purchase decisions. Ease of online shopping has contributed to growth in the market by reaching a broader customer base.
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Footwear manufacturers are constantly investing in research development to introduce innovative technologies and materials in their products. These advancements often aim to enhance comfort, performance, and durability. It is expected to push the market for sneakers and boots in the United Kingdom.
Key Takeaways from the United Kingdom Women’s Footwear Market Study:
- The market for women’s footwear in the United Kingdom grew at a CAGR of 3% in the historical period from 2018 to 2022.
- The sneaker segment is anticipated to surge at a 3% CAGR during the projection period in the women’s footwear market across the United Kingdom.
- Based on material, the leather segment is expected to rise at a 2% CAGR during the assessment period.
- In terms of sales channels, the online platforms segment is likely to rise at a CAGR of 4% through 2033.
- The United Kingdom women’s footwear industry was valued at US$ 2,015.9 million in 2022.
“Growing attention to ethical and sustainable consumerism is a leading driver of women’s footwear sales in the United Kingdom. Consumers are becoming more aware of the effects of their purchases as knowledge of environmental and social issues grows. As a result, there has been a shift toward environmentally and morally responsible footwear.” – Says a lead analyst at Future Market Insights (FMI).
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Who is winning?
Players in the market for women’s footwear in the United Kingdom are using a variety of tactics to maintain their competitiveness and satisfy changing consumer needs. For the purpose of attracting the interest of fashion-conscious customers, they are concentrating on introducing cutting-edge and distinctive footwear designs. This entails utilizing cutting-edge components, innovations, and fashion trends.
Companies are also investing in their online presence and e-commerce platforms as a result of realizing the significance of digital landscape. To reach a larger audience, they are developing user-friendly websites, lively social media profiles, and utilizing online marketing techniques.
For several women, comfort and utility are important considerations when selecting footwear. Manufacturers are spending money on research development to create footwear with features such as padded soles, arch support, and lightweight materials. These are expected to be both fashionable and functional.
- Reebok International Limited announced a collaboration with the vegan beauty brand Milk Makeup in 2023. As a result, Milk Makeup and Reebok created the Equipment Essentials limited-edition footwear and apparel collection.
Get More Valuable Insights into United Kingdom Women’s Footwear Market
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the United Kingdom women’s footwear industry, presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033. The study divulges compelling insights on the United Kingdom women’s footwear industry by product type (sneakers, boots), material (rubber, leather, polyester, velvet, canvas, textile, other materials), and sales channel (direct sales/exclusive stores, modern trade stores, department stores, specialty stores, off-price stores, other sales channel, and online platforms).