The Asia Pacific PVC Footwear Market would witness market growth of 5.4% CAGR during the forecast period (2023-2030).
PVC footwear is a dependable option for outdoor enthusiasts, including trekkers, campers, and athletes, due to its durability, water resistance, and abrasion resistance. PVC shoes provide the necessary durability and protection for muddy trails, severe climates, and water sports. With the rising demand for shoes that can withstand extreme conditions and accommodate a variety of consumer preferences, the PVC footwear industry is anticipated to experience growth in the coming years, driven by the inherent qualities of durability and adaptability.
In addition, e-commerce retail channels play an essential role in the distribution of these footwear because they generate substantial market revenue. These channels enable consumers to shop for contemporary and designer footwear in a single location, eliminating the need to visit multiple retail stores. In the coming years, e-commerce retail is expected to witness significant growth because of rising consumer spending, a growing population, and expanded internet access. Manufacturers offer various colorful and fun designs in PVC footwear, often featuring popular children's characters from movies, cartoons, and TV shows. These attractive designs appeal to children and make wearing their shoes more enjoyable.
In India, rapid urbanization is a crucial factor driving e-commerce growth. The industry's growth is attributed to the increasing usage of the internet and the ease of accessing e-commerce websites through various devices such as smartphones, tablets, and computers. In India, businesses own more e-commerce platforms than marketers who utilize them for sales generation. Due to this trend, businesses increasingly depend on their proprietary e-commerce platforms rather than third-party or social media marketplaces. The growing use of the e-commerce sector and digital marketing in the region are expected to grow the market. Many consumers are shifting towards this sales channel to buy products like footwear and flip-flops due to the channel's benefits aiding the market growth in APAC.
The China market dominated the Asia Pacific PVC Footwear Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $9,517.8 million by 2030. The Japan market is expected to witness a CAGR of 4.8% during (2023 - 2030). Additionally, The India market is expected to witness a CAGR of 6.1% during (2023 - 2030).
Based on Product, the market is segmented into Shoes, Flip Flops, and Others. Based on Distribution Channel, the market is segmented into Offline, and Online. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide PVC Footwear Market is Projected to reach USD 93.5 Billion by 2030, at a CAGR of 5.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Dr. Martens plc, Decathlon S.A. (Asociacion Familiale Mulliez) (Oxelo), VKC Group, Alpargatas S.A. (Havaianas), BATA CORPORATION, Grendene S.A., Liberty shoes ltd. (Liberty Group), Khadim India Ltd., Ajanta shoes India Pvt. Ltd., and VF Corporation.
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