The Latin America, Middle East and Africa PVC Footwear Market would witness market growth of 7.6% CAGR during the forecast period (2023-2030).
PVC footwear for children has gained popularity due to its practical benefits, including waterproof properties, durability, affordability, and a wide range of appealing designs. Parents value these attributes when choosing footwear for their children, contributing to the growing demand for the market. Some parents may choose these footwear because of its recyclability. PVC can be recycled and repurposed, aligning with environmental values and concerns about sustainability.
Parents seek reliable and functional footwear options for their children. Parents appreciate the practicality of these footwear because it ensures their children's feet are protected and comfortable during outdoor adventures and adverse weather conditions. PVC footwear is often lightweight and comfortable for children to wear. This is important for active play and extended outdoor activities. Some PVC footwear for children incorporates safety features like slip-resistant soles. Parents find these features reassuring, especially when their children are running and playing.
One of the primary drivers has been the region's rapid urbanization and population growth. As more people move from rural areas to urban centers for better economic opportunities, the demand for affordable and practical footwear has surged. PVC footwear, known for its cost-efficiency and versatility, has met this growing demand effectively. Younger consumers often prioritize affordability, fashion-forward designs, and comfort. PVC footwear manufacturers have responded by creating trendy and colorful options catering to this demographic, capturing a significant market share. All of these elements, thus, aid in expanding the regional market.
The Brazil market dominated the LAMEA PVC Footwear Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,501 million by 2030. The Argentina market is expected to witness a CAGR of 8.2% during (2023 - 2030). Additionally, The UAE market is expected to witness a CAGR of 7.3% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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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