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PVC Footwear Market

The Market Study on PVC Footwear by PMR Foresees Various Opportunities, with analysis encompassing rising consumer demand for affordable and durable footwear, expanding fashion consciousness, and the increasing use of PVC material for its cost-effectiveness and versatility in design

A Detailed Analysis of the PVC Footwear Market is currently undergoing robust growth driven by an escalating consumer demand for affordable and durable footwear options, coupled with advancements in PVC technology

PVC Footwear Market

The global pvc footwear market is forecasted to expand at a CAGR of 6.3% and thereby increase from a value of US$ 69.2Bn in 2023 to US$ 1,06.3Bn by the end of 2030.

Attributes

Key Insights

PVC Footwear Market Size (2023E)

US$ 69.2Bn

Projected Market Value (2030F)

US$ 1,06.3Bn

Global Market Growth Rate (CAGR 2023 to 2030)

6.3%

Historical Market Growth Rate (CAGR 2018 to 2022)

5.7%

Revenue Share of Top Four Countries (2022E)

48%

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Market Introduction and Definition

Versatility and durability play pivotal roles in influencing consumer preferences, manufacturing practices, and market trends within the polyvinyl chloride (PVC) footwear industry. PVC, a synthetic material renowned for its robustness, adaptability, and strength, stands out as a resilient polymer capable of withstanding wear and tear, enabling a myriad of applications. Its suitability for footwear used in demanding environments, such as factories or construction sites, is attributed to its resilience and resistance to water, chemicals, abrasion, and weathering.

Within the footwear context, the cost-effectiveness of PVC-based shoes and sandals positions them as a preferred choice for a vast consumer base, becoming a driving factor in the market. As a result, the Shoes segment is expected to command a substantial market share, approximately 2/4th, by 2030. Particularly in emerging economies, where a significant portion of the population may not have the financial means for high-end footwear, PVC shoes, and sandals emerge as an affordable and accessible entry-level option. Manufacturers in the PVC footwear industry have capitalized on this opportunity to cater to a growing middle class with evolving lifestyle preferences and aspirations. Factors influencing the market include a surge in demand for PVC footwear due to the growing e-commerce sector, dynamic shifts in fashion trends, and considerations related to health and safety.

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Market Growth Drivers

Increasing Consumer Spending, And A Growing Population

The e-commerce retail sector is expected to experience substantial growth driven by increasing consumer spending, a growing population, and heightened internet accessibility. The emergence of mobile shopping apps and the availability of secure and convenient payment gateways contribute significantly to the overall expansion of the online retail industry. Independent bloggers and popular social media platforms like Pinterest and Instagram, influencing trends in the footwear sector, are poised to have a positive impact on the PVC footwear market.

As per a survey by eShopWorld, a notable proportion of consumers aged 25 to 44 (58%) engaged in direct-to-consumer e-commerce purchases from international brands in the first half of 2021. The survey, covering about 15,000 individuals across 14 countries, indicated that regions like South Africa and India exhibited the highest preference for online purchases of international brands, with 63% of individuals aged 22 to 44 making such acquisitions. Following were the UAE (56%), China (53%), and the U.S. (52%). Clothing and accessories constituted 25% of overall purchases, succeeded by footwear (19%) and luxury items (18%).

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Market Restraints

Health and Safety Issues Associated with PVC (Polyvinyl Chloride) Footwear

Health and safety concerns related to PVC (polyvinyl chloride) footwear pose a substantial impediment to the industry. PVC, as a material, frequently incorporates different chemicals such as phthalates, lead, and cadmium, which present potential risks to human health and safety. A significant apprehension involves the possibility of chemical exposure through direct contact with PVC footwear. Prolonged or frequent interaction with these chemicals, leaching out of the footwear, may result in skin irritations, allergies, or more severe health complications.

Environmental Concerns and Sustainability

A primary challenge confronting the global PVC footwear market is centered around environmental considerations and sustainability issues linked to the production, utilization, and disposal of PVC. The derivation of PVC from fossil fuels and its manufacturing process, involving the release of chlorine gas, poses environmental hazards. Furthermore, the disposal of PVC products can lead to the emission of harmful chemicals, contributing to soil and water pollution.

The environmental repercussions of PVC have triggered heightened scrutiny from consumers, environmental organizations, and regulatory bodies. As global awareness of climate change and environmental sustainability expands, there is an increasing demand for eco-friendly alternatives in the footwear industry. This shift in consumer sentiment presents a challenge for the PVC footwear market, necessitating the adoption of more sustainable practices and materials to address environmental apprehensions. To tackle this challenge, manufacturers in the PVC footwear market are exploring and investing in the development of eco-friendly PVC alternatives, recycling programs, and more sustainable manufacturing processes. However, the transition to sustainable practices is a multifaceted process that requires substantial investments in research, development, and infrastructure.

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Opportunities

Technological Advancements and Innovation to Propose Great Promise

The global PVC footwear market is undergoing a surge of technological advancements and innovation, influencing the transformation of product design, manufacturing techniques, and performance attributes. Progress in material science and manufacturing technologies empowers manufacturers to augment the properties of PVC, rendering it more versatile, comfortable, and durable. 3D printing technology is emerging as a transformative force in the PVC footwear market, facilitating precise and personalized designs. This technology empowers manufacturers to craft intricate and distinctive patterns, meeting the increasing demand for customized and stylish footwear. The incorporation of smart technologies, such as temperature-regulating materials or fitness-tracking features, represents another facet of innovation that amplifies the functionality of PVC footwear.

Moreover, progress in sustainable manufacturing practices is part of this trend, as manufacturers utilize technology to diminish environmental impact. From more efficient production processes to the adoption of eco-friendly materials, technological innovation is reshaping the PVC footwear market and propelling the industry toward a more sustainable and consumer-centric future.

Analyst’s Viewpoint

What do our Analysts Predict for the Future of the PVC Footwear Market?

The PVC Footwear Market is anticipated to undergo substantial expansion and change. The consistent consumer demand for comfortable and functional footwear remains steadfast. PVC footwear that addresses comfort concerns through ergonomic designs and features is poised to maintain sustained demand. Striking a balance between style and functionality becomes crucial in meeting the diverse expectations of consumers. The fashion industry plays a significant role in influencing the demand for PVC footwear, where design, color, and style trends are pivotal in shaping consumer choices. Manufacturers who respond to current fashion trends and integrate design innovations into their PVC footwear collections are likely to witness increased demand, particularly among style-conscious consumers. Consumer perception of PVC as a material can impact demand, and educational campaigns highlighting the benefits of PVC, its recyclability, and eco-friendly production practices have the potential to create a positive perception, ultimately driving demand for PVC footwear.

Supply-side Dynamics

Several factors, including the Growing E-commerce Sector, and rapidly changing fashion trends, all contribute to the dynamic and rapid expansion of the global PVC Footwear market. Ansell Limited, Bata Shoe Organization, Crocs, Inc., Fujian Jinyang Group Co., Ltd., and Inter Rubber Products, Inc. are market leaders in the manufacturing sector. The countries of Germany, Japan, China, France, and the United States are significant producers of various goods. The German market is recognized for its consumers' inclination towards high-quality products, and PVC footwear manufacturers in Germany are dedicated to meeting these standards. This emphasis on quality has established a reputation for durability and reliability for German PVC footwear. In China, the growing middle class is propelling the demand for cost-effective and long-lasting footwear alternatives, making PVC footwear a favored choice.

Several corporations are allocating resources towards expanding their capacity to satisfy the increasing need for PVC Footwear. It is anticipated that these expansions will substantially alter the dynamics of the market, resulting in heightened competition, reduced prices, and an influx of innovative products.

Market Segmentation

Which Product Type Are Expected to Benefit the Most from Revenue Generation?

Extensive Sales for Shoes as PVC Shoes Are Easy To Clean And Maintain

PVC, recognized for its durability, water resistance, and cost-effectiveness, stands as a favored material for a diverse range of footwear. PVC shoes, available in various styles and designs, enjoy popularity among consumers. Utilizing PVC as a primary raw material ensures that the footwear is water-resistant, rendering it suitable for inclement weather conditions. This characteristic safeguards against moisture, ensuring dryness and comfort for the wearer. The inherent durability of PVC shoes makes them well-suited for daily wear and outdoor activities, with the material exhibiting resistance to abrasion and the ability to endure challenging terrains. This renders them appropriate for hiking or work settings demanding robust footwear. Moreover, PVC shoes offer easy cleaning and maintenance. Their affordability positions PVC shoes as an appealing choice for individuals seeking cost-effective footwear without compromising on functionality.

Which Distribution Channel to be Focused on the Most Regarding Sales?

Offline Channel to Widen Footprint Due to Enhanced Visibility and Customer Engagement

PVC footwear is commonly available in brick-and-mortar retail establishments, including shoe stores, department stores, discount retailers, and specialty shops. These physical stores maintain a diverse inventory of PVC shoe brands and styles, allowing customers to physically assess and purchase the shoes. The offline distribution of PVC footwear involves the active participation of wholesalers and distributors. These intermediaries procure PVC footwear in bulk directly from manufacturers and subsequently distribute them to retail outlets. Wholesalers serve as facilitators, granting retailers access to a broad spectrum of PVC footwear options for their inventory. Some PVC shoe brands provide retailers with printed catalogs or brochures to showcase their offerings.

Top Regional Markets

Why is North America Emerging as a Dominating Region?

Ease Of Maintenance And Affordability to Fuel Growth for Easier Market Adoption

In the North American footwear industry, PVC has become a fashionable material, leading to the introduction of trendy designs and collaborations with popular brands. The ease of maintenance and affordability have significantly increased the popularity of PVC shoes, especially in urban areas and among younger demographics. Various types of PVC footwear, including flip-flops, work boots, and Crocs, are gaining widespread acceptance among the North American population. In 2022, U.S. shoe store sales reached approximately 39 billion U.S. dollars, with Americans spending a total of $104.6 billion on shoes. The U.S. imported 8.1 pairs of shoes per capita in 2022, and annual sales surpassed $104.6 billion. Many individuals are adopting stylish and eye-catching flip-flops and shoes as a fashion statement.

What Opportunities Lie in Asia Pacific for Manufacturers?

Integration of Advanced Health Monitoring Systems to Advance Growth

Many countries in Asia, including India, China, and Japan, have a dynamic outdoor culture, with people participating in activities such as beach outings, hiking, and casual gatherings. Footwear products like sandals and flip-flops, crafted from PVC, offer comfort and practicality for these diverse activities. India's footwear industry ranked as the second-largest producer globally, has experienced significant benefits, particularly with the facilitation of 100% foreign direct investment (FDI) for leather product manufacturing through an automatic route. The Indian government has also permitted 100% FDI in single-brand retail, incorporating a clause requiring 30% mandatory local sourcing. PVC footwear is generally more budget-friendly compared to products made from other materials like leather or high-end synthetic fabrics. This affordability makes PVC shoes accessible to consumers across various income levels, including those with lower disposable incomes. Asian consumers appreciate the value-for-money proposition that PVC shoes offer. They can acquire multiple pairs of PVC shoes for the same budget as a single pair made from more expensive materials. This cost-effectiveness positions PVC shoes as an ideal choice for the Asian population seeking reliable and affordable options capable of enduring daily wear and tear.

Competitive Intelligence and Business Strategy

Prominent organizations, including Ansell Limited, Bata Shoe Organization, and Crocs, Inc., are at the vanguard of this sector, providing inventive solutions by capitalizing on their technological prowess and vast experience in the PVC Footwear industry. Organizations operating within this sector prioritize technological advancements, strategic alliances, and user experience improvement. These businesses make substantial R&D investments for durable PVC footwear. The transformation of PVC footwear into a fashion statement places increased importance on design, compelling manufacturers to develop stylish and trendy offerings.

To distinguish themselves in this highly competitive market, these businesses strive to differentiate their products. They achieve this by providing innovative designs, and unique features, and incorporating sustainable practices in their PVC footwear offerings.

Key Recent Developments

New Product Launch

In August 2022, Bata India Limited adopted an asset-light franchise strategy to facilitate its physical expansion. The company managed 320 franchise outlets, predominantly located in semi-urban areas. With an ambitious objective, Bata India aimed to increase this count to 500 stores, focusing specifically on towns with a population of at least two lakh individuals. Furthermore, Bata India strategically planned to enhance its exclusive e-commerce offerings, seeking to strengthen its presence in the digital market.

Market Impact: The implementation of an asset-light franchise strategy and the expansion plans in both physical and digital realms by Bata India Limited are anticipated to propel the PVC footwear market. Bata India's strategic approach involves a targeted increase in franchise outlets, specifically in semi-urban locations and populous towns, aiming to broaden its market presence and improve accessibility. Furthermore, the foray into exclusive e-commerce offerings aligns with the rising trend of online shopping, offering consumers more options to explore and acquire PVC footwear. Overall, Bata India's comprehensive expansion strategy is poised to contribute to increased market visibility and consumer engagement in the PVC footwear segment.

Crocs, a prominent global brand in creative casual footwear for women, men, and children, has introduced the Eco-Friendly Crocs Classic Clogs. These clogs are crafted using 50% certified renewable material derived from sugarcane.

Market Impact: The launch of Crocs' Eco-Friendly Classic Clogs, featuring 50% certified renewable sugarcane-based material, is expected to boost the PVC footwear market. This eco-conscious and innovative product caters to the increasing consumer preference for sustainability and environmentally friendly choices. Croc's dedication to utilizing renewable materials enhances its attractiveness to environmentally conscious consumers, potentially broadening its customer base and playing a role in the overall expansion of the PVC footwear market.

PVC Footwear Market Report Scope

Attribute

Details

Forecast Period

2023 to 2030

Historical Data Available for

2018 to 2022

Market Analysis

US$ Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • The Middle East & Africa  

Key Countries Covered

  • United States
  • Canada
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • South Africa  

Key Market Segments Covered

  • Product Type
  • Distribution Channel
  • Region

Key Companies Profiled

  • Ansell Limited
  • Bata Shoe Organization
  • Crocs, Inc.
  • Fujian Jinyang Group Co., Ltd.
  • Inter Rubber Products, Inc.
  • Keds Corporation
  • Skechers USA, Inc.
  • Shoe Carnival, Inc.
  • VF Corporation

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives  

Customization & Pricing

Available upon request

PVC Footwear Market Research Segmentation

By Product Type:

  • Shoes
  • Flip Flops

By Distribution Channel:

  • Online
  • Offline

By Region:

  • North America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Latin America
  • Middle East & Africa

- Companies Covered in This Report -

  • Ansell Limited
  • Bata Shoe Organization
  • Crocs, Inc.
  • Fujian Jinyang Group Co., Ltd.
  • Inter Rubber Products, Inc.
  • Keds Corporation
  • Skechers USA, Inc.
  • Shoe Carnival, Inc.
  • VF Corporation

- Frequently Asked Questions -

The market is anticipated to grow at a CAGR of 6.3% during the projected period.

The PVC Footwear market was valued at USD 69,271.2 million in 2023.

The U.S. held the largest market share in 2023.

The prominent players in the market are Ansell Limited, Bata Shoe Organization, Crocs, Inc., Fujian Jinyang Group Co., Ltd., and Inter Rubber Products, Inc., among others.

Shoes segment is expected to grow at the fastest growth during the forecast period.

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