PUBLISHER: IMARC | PRODUCT CODE: 1422963
PUBLISHER: IMARC | PRODUCT CODE: 1422963
Men Formal Shoe Market Report by Shoe Type (Oxford Shoe, Derby Shoe, Loafer Shoe, Boots Shoe, and Others), Leather Type (Patent Leather, Pebble and Full Grain Leather, Top Grain Leather, Suede Leather), and Region 2024-2032
Abstract
The global men formal shoe market size reached US$ 10.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 16.9 Billion by 2032, exhibiting a growth rate (CAGR) of 5.45% during 2024-2032. Continual product innovations in design and features, easy product availability across online and offline organized retail channels and inflating disposable income levels of the masses represent some of the key factors driving the market.
Formal shoes refer to a specific class of shoes that are worn in offices and social occasions. These shoes are usually black or brown colored and are worn to give a formal look to the whole attire. Men formal shoes are majorly made of cowhide, although other leather variants, such as artificial leather and grained leather, are also used. Formal shoes are designed to be extremely comfortable for the feet while providing a decent design articulation even in casual looks. They are worn in various occasions, such as formal meetings, dance floors, dress coded parties, and special occasions. Compared to their casual counterparts, men formal shoes have several advantages, including distinctive appearance, better finishing, and enhanced durability. Rapid urbanization, particularly in emerging economies, leading to the augmenting demand for formal shoes from new and established brands is creating lucrative growth opportunities in the market.
Men Formal Shoe Market Trends:
The global market is primarily driven by the escalating demand for premium and branded footwear, especially among the male population. This can be attributed to the growing commercialization of numerous types of men formal apparel and the advent of shifting fashion trends. In addition to this, continual product innovations in design and features, such as fusion looks, waterproofing, and unique stitch and cut patterns on shoes are impacting the market positively. Also, considerable growth in the corporate sector is leading to the augmenting number of corporate employees, thereby resulting in a higher product uptake among the masses. In line with this, the easy product availability across organized retail channels is acting as a significant growth-inducing factor for the market. Besides this, the shifting consumer preference toward online shopping due to the convenience and the availability of foreign brands, discounts, and virtual trial rooms are resulting in higher product sales. The market is further propelled by numerous strategies adopted by various key market players, such as new product launches, collaboration and partnerships, and mergers and acquisitions (M&As), to enhance their geographical presence. Apart from this, the growing apparel industry is resulting in the expansion of product warehousing and supply chain, which, in turn, is fueling the market growth. Some of the other factors contributing to the market include rapid industrialization, inflating disposable income levels, shifting lifestyle patterns of the consumers and extensive research and development (R&D) activities.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global men formal shoe market, along with forecasts at the global, regional, and country level from 2024-2032. Our report has categorized the market based on shoe type and leather type.
Shoe Type Insights
Oxford Shoe
Derby Shoe
Loafer Shoe
Boots Shoe
Others
The report has provided a detailed breakup and analysis of the men formal shoe market based on the shoe type. This includes oxford shoe, derby shoe, loafer shoe, boots shoe and others. According to the report, oxford shoe represented the largest segment.
Leather Type Insights
Patent Leather
Pebble and Full Grain Leather
Top Grain Leather
Suede Leather
A detailed breakup and analysis of the men formal shoe market based on the leather type has also been provided in the report. This includes patent leather, pebble and full grain leather, top grain leather, and suede leather. According to the report, patent leather accounted for the largest market share.
Regional Insights
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, Europe was the largest market for men formal shoe. Some of the factors driving the Europe men formal shoe market include a considerable rise in the ageing population, continual technological advancements, shifting consumer preference towards online shopping, etc.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global men formal shoe market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Alden Shoe Company, Allen Edmonds Corporation (Caleres Inc.), Bruno Magli S.p.A. (Marquee Brands), Burberry Group Plc, C. & J. Clark International Ltd. (C&J Clark (Holdings) Limited), Calvin Klein Inc. (PVH Corp.), Cole Haan, Dolce & Gabbana S.r.l., Genesco Inc., Guccio Gucci S.p.A (Kering Holland NV), Hugo Boss AG, LVMH Moet Hennessy Louis Vuitton, Prada S.p.A., etc.
Key Questions Answered in This Report:
- How has the global men formal shoe market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global men formal shoe market?
- What are the key regional markets?
- Which countries represent the most attractive men formal shoe markets?
- What is the breakup of the market based on the shoe type?
- What is the breakup of the market based on the leather type?
- What is the competitive structure of the global men formal shoe market?
- Who are the key players/companies in the global men formal shoe market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Men Formal Shoe Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Shoe Type
- 6.1 Oxford Shoe
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Derby Shoe
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Loafer Shoe
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Boots Shoe
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Others
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
7 Market Breakup by Leather Type
- 7.1 Patent Leather
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Pebble and Full Grain Leather
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Top Grain Leather
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Suede Leather
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
8 Market Breakup by Region
- 8.1 North America
- 8.1.1 United States
- 8.1.1.1 Market Trends
- 8.1.1.2 Market Forecast
- 8.1.2 Canada
- 8.1.2.1 Market Trends
- 8.1.2.2 Market Forecast
- 8.1.1 United States
- 8.2 Asia-Pacific
- 8.2.1 China
- 8.2.1.1 Market Trends
- 8.2.1.2 Market Forecast
- 8.2.2 Japan
- 8.2.2.1 Market Trends
- 8.2.2.2 Market Forecast
- 8.2.3 India
- 8.2.3.1 Market Trends
- 8.2.3.2 Market Forecast
- 8.2.4 South Korea
- 8.2.4.1 Market Trends
- 8.2.4.2 Market Forecast
- 8.2.5 Australia
- 8.2.5.1 Market Trends
- 8.2.5.2 Market Forecast
- 8.2.6 Indonesia
- 8.2.6.1 Market Trends
- 8.2.6.2 Market Forecast
- 8.2.7 Others
- 8.2.7.1 Market Trends
- 8.2.7.2 Market Forecast
- 8.2.1 China
- 8.3 Europe
- 8.3.1 Germany
- 8.3.1.1 Market Trends
- 8.3.1.2 Market Forecast
- 8.3.2 France
- 8.3.2.1 Market Trends
- 8.3.2.2 Market Forecast
- 8.3.3 United Kingdom
- 8.3.3.1 Market Trends
- 8.3.3.2 Market Forecast
- 8.3.4 Italy
- 8.3.4.1 Market Trends
- 8.3.4.2 Market Forecast
- 8.3.5 Spain
- 8.3.5.1 Market Trends
- 8.3.5.2 Market Forecast
- 8.3.6 Russia
- 8.3.6.1 Market Trends
- 8.3.6.2 Market Forecast
- 8.3.7 Others
- 8.3.7.1 Market Trends
- 8.3.7.2 Market Forecast
- 8.3.1 Germany
- 8.4 Latin America
- 8.4.1 Brazil
- 8.4.1.1 Market Trends
- 8.4.1.2 Market Forecast
- 8.4.2 Mexico
- 8.4.2.1 Market Trends
- 8.4.2.2 Market Forecast
- 8.4.3 Others
- 8.4.3.1 Market Trends
- 8.4.3.2 Market Forecast
- 8.4.1 Brazil
- 8.5 Middle East and Africa
- 8.5.1 Market Trends
- 8.5.2 Market Breakup by Country
- 8.5.3 Market Forecast
9 Drivers, Restraints, and Opportunities
- 9.1 Overview
- 9.2 Drivers
- 9.3 Restraints
- 9.4 Opportunities
10 Value Chain Analysis
11 Porters Five Forces Analysis
- 11.1 Overview
- 11.2 Bargaining Power of Buyers
- 11.3 Bargaining Power of Suppliers
- 11.4 Degree of Competition
- 11.5 Threat of New Entrants
- 11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
- 13.1 Market Structure
- 13.2 Key Players
- 13.3 Profiles of Key Players
- 13.3.1 Alden Shoe Company
- 13.3.1.1 Company Overview
- 13.3.1.2 Product Portfolio
- 13.3.2 Allen Edmonds Corporation (Caleres Inc.)
- 13.3.2.1 Company Overview
- 13.3.2.2 Product Portfolio
- 13.3.3 Bruno Magli S.p.A. (Marquee Brands)
- 13.3.3.1 Company Overview
- 13.3.3.2 Product Portfolio
- 13.3.4 Burberry Group Plc
- 13.3.4.1 Company Overview
- 13.3.4.2 Product Portfolio
- 13.3.4.3 Financials
- 13.3.4.4 SWOT Analysis
- 13.3.5 C. & J. Clark International Ltd. (C&J Clark (Holdings) Limited)
- 13.3.5.1 Company Overview
- 13.3.5.2 Product Portfolio
- 13.3.6 Calvin Klein Inc. (PVH Corp.)
- 13.3.6.1 Company Overview
- 13.3.6.2 Product Portfolio
- 13.3.7 Cole Haan
- 13.3.7.1 Company Overview
- 13.3.7.2 Product Portfolio
- 13.3.8 Dolce & Gabbana S.r.l.
- 13.3.8.1 Company Overview
- 13.3.8.2 Product Portfolio
- 13.3.9 Genesco Inc.
- 13.3.9.1 Company Overview
- 13.3.9.2 Product Portfolio
- 13.3.9.3 Financials
- 13.3.9.4 SWOT Analysis
- 13.3.10 Guccio Gucci S.p.A (Kering Holland NV)
- 13.3.10.1 Company Overview
- 13.3.10.2 Product Portfolio
- 13.3.11 Hugo Boss AG
- 13.3.11.1 Company Overview
- 13.3.11.2 Product Portfolio
- 13.3.11.3 Financials
- 13.3.11.4 SWOT Analysis
- 13.3.12 LVMH Moet Hennessy Louis Vuitton
- 13.3.12.1 Company Overview
- 13.3.12.2 Product Portfolio
- 13.3.12.3 Financials
- 13.3.12.4 SWOT Analysis
- 13.3.13 Prada S.p.A.
- 13.3.13.1 Company Overview
- 13.3.13.2 Product Portfolio
- 13.3.13.3 Financials
- 13.3.1 Alden Shoe Company
List of Figures
- Figure 1: Global: Men Formal Shoe Market: Major Drivers and Challenges
- Figure 2: Global: Men Formal Shoe Market: Sales Value (in Billion US$), 2018-2023
- Figure 3: Global: Men Formal Shoe Market Forecast: Sales Value (in Billion US$), 2024-2032
- Figure 4: Global: Men Formal Shoe Market: Breakup by Shoe Type (in %), 2023
- Figure 5: Global: Men Formal Shoe Market: Breakup by Leather Type (in %), 2023
- Figure 6: Global: Men Formal Shoe Market: Breakup by Region (in %), 2023
- Figure 7: Global: Men Formal Shoe (Oxford Shoe) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 8: Global: Men Formal Shoe (Oxford Shoe) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 9: Global: Men Formal Shoe (Derby Shoe) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 10: Global: Men Formal Shoe (Derby Shoe) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 11: Global: Men Formal Shoe (Loafer Shoe) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 12: Global: Men Formal Shoe (Loafer Shoe) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 13: Global: Men Formal Shoe (Boots Shoe) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 14: Global: Men Formal Shoe (Boots Shoe) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 15: Global: Men Formal Shoe (Other Shoe Types) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 16: Global: Men Formal Shoe (Other Shoe Types) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 17: Global: Men Formal Shoe (Patent Leather) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 18: Global: Men Formal Shoe (Patent Leather) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 19: Global: Men Formal Shoe (Pebble and Full Grain Leather) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 20: Global: Men Formal Shoe (Pebble and Full Grain Leather) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 21: Global: Men Formal Shoe (Top Grain Leather) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 22: Global: Men Formal Shoe (Top Grain Leather) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 23: Global: Men Formal Shoe (Suede Leather) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 24: Global: Men Formal Shoe (Suede Leather) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 25: North America: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 26: North America: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 27: United States: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 28: United States: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 29: Canada: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 30: Canada: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 31: Asia-Pacific: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 32: Asia-Pacific: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 33: China: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 34: China: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 35: Japan: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 36: Japan: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 37: India: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 38: India: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 39: South Korea: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 40: South Korea: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 41: Australia: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 42: Australia: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 43: Indonesia: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 44: Indonesia: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 45: Others: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 46: Others: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 47: Europe: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 48: Europe: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 49: Germany: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 50: Germany: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 51: France: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 52: France: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 53: United Kingdom: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 54: United Kingdom: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 55: Italy: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 56: Italy: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 57: Spain: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 58: Spain: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 59: Russia: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 60: Russia: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 61: Others: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 62: Others: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 63: Latin America: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 64: Latin America: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 65: Brazil: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 66: Brazil: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 67: Mexico: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 68: Mexico: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 69: Others: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 70: Others: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 71: Middle East and Africa: Men Formal Shoe Market: Sales Value (in Million US$), 2018 & 2023
- Figure 72: Middle East and Africa: Men Formal Shoe Market: Breakup by Country (in %), 2023
- Figure 73: Middle East and Africa: Men Formal Shoe Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 74: Global: Men Formal Shoe Industry: Drivers, Restraints, and Opportunities
- Figure 75: Global: Men Formal Shoe Industry: Value Chain Analysis
- Figure 76: Global: Men Formal Shoe Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Men Formal Shoe Market: Key Industry Highlights, 2023 & 2032
- Table 2: Global: Men Formal Shoe Market Forecast: Breakup by Shoe Type (in Million US$), 2024-2032
- Table 3: Global: Men Formal Shoe Market Forecast: Breakup by Leather Type (in Million US$), 2024-2032
- Table 4: Global: Men Formal Shoe Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 5: Global: Men Formal Shoe Market: Competitive Structure
- Table 6: Global: Men Formal Shoe Market: Key Players
