PUBLISHER: The Business Research Company | PRODUCT CODE: 1464073
PUBLISHER: The Business Research Company | PRODUCT CODE: 1464073
Custom shoes are footwear meticulously crafted and tailored to meet the unique preferences, requirements, and measurements of individual customers, offering a personalized blend of style, fit, and functionality. They find utility across a range of activities, including running, sports, aerobics, walking, and trekking.
The primary categories of custom shoe products encompass athletic, non-athletic, safety, formal, casual, and other specialized variants. Athletic shoes, also referred to as sports shoes or sneakers, are specifically engineered for physical and sports activities, incorporating specialized technologies such as cushioning, stability, and impact absorption. These shoes are crafted from a diverse array of materials, including leather, synthetics, rubber, textiles, and others. These custom shoe products are made available through both offline and online distribution channels, catering to a wide spectrum of end users comprising men, women, unisex individuals, and children.
The custom shoes market research report is one of a series of new reports from The Business Research Company that provides custom shoes market statistics, including custom shoes industry global market size, regional shares, competitors with a custom shoes market share, detailed custom shoes market segments, market trends and opportunities, and any further data you may need to thrive in the custom shoes industry. This custom shoes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The custom shoes market size has grown rapidly in recent years. It will grow from $2.25 billion in 2023 to $2.52 billion in 2024 at a compound annual growth rate (CAGR) of 12.0%. The expansion observed during the historical period can be attributed to several factors, including a resurgence of craftsmanship, endorsements by celebrities, the emergence of niche communities, the proliferation of e-commerce platforms, and evolving fashion trends.
The custom shoes market size is expected to see rapid growth in the next few years. It will grow to $3.75 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The projected growth in the forecast period can be attributed to several factors, including a heightened focus on sustainability, integration of augmented reality, increasing awareness of personal health, automation of customization processes, and emphasis on cultural diversity. Major trends expected in this forecast period include the utilization of collaborative design platforms, scaling of mass customization efforts, integration of health and wellness features, adoption of digital-first retail experiences, and leveraging technology for enhanced customization options.
The surge of e-commerce is anticipated to be a significant driver of growth within the custom shoes market moving forward. E-commerce, also known as electronic commerce, denotes the online buying and selling of goods and services, wherein transactions are facilitated through the exchange of funds and data over the Internet. This phenomenon has witnessed substantial growth in recent years due to various factors, including the convenience of online shopping, the availability of an extensive array of products, and the increasing preference for mobile devices in the shopping experience. The proliferation of e-commerce has dovetailed with the expansion of the custom shoes sector, as online platforms offer a diverse selection of customizable footwear options, empowering customers to personalize their shoes according to their preferences and activities. For instance, as per reports from the United States Census Bureau in November 2023, retail e-commerce sales in the U.S. reached $284.1 billion in the third quarter of 2023, marking a 7.6% increase from the corresponding period in 2022 and accounting for 15.6% of total sales. Thus, the burgeoning growth of e-commerce is propelling the expansion of the custom shoes market.
Leading companies within the custom shoes market are intensifying their focus on innovation, exemplified by initiatives such as the development of smart running shoes, aimed at gaining a competitive edge in the market. Smart running shoes represent a class of technologically advanced wearables designed to capture biometric data, enabling users to analyze their running performance, measure various metrics such as strain, impact, and balance, and receive personalized recommendations to support their fitness goals. For instance, in August 2022, Anta Sports Products Limited, a prominent China-based sports equipment company, introduced the Olympic Champion running shoes, a cutting-edge custom-fit footwear line embedded with smart sports technology developed in collaboration with HUAWEI Health, a renowned health and fitness app. These innovative running shoes feature two core Olympic technologies, including Anta's nitrogen technology platform and carbon tube suspension system, catering to both elite athletes and recreational runners, thereby providing reliable running gear suitable for distances ranging from 5 to 10 kilometers.
In April 2022, HealthEdge Investment Partners LLC, a leading healthcare-focused private equity firm based in the United States, finalized the acquisition of Anodyne LLC for an undisclosed sum. This acquisition aligns with HealthEdge's investment strategy, which focuses on bolstering businesses that can leverage its partners' extensive experience and network of relationships. Anodyne LLC, headquartered in the US, is a renowned footwear company renowned for its specialization in crafting custom-designed diabetic shoes for men.
Major companies operating in the custom shoes market report are Nike Inc., Adidas AG, Vans Inc., PUMA SE, Skechers USA Inc., New Balance Athletics Inc., Asics, Crocs Inc., Wolverine World Wide Inc., Genesco Inc., Converse Inc., Steve Madden Ltd., Timberland LLC, Geox SpA, Clarks, Sperry, John Lobb, Shoes Of Prey, Crockett & Jones Ltd., Carmina Shoemaker, Rancourt & Company Shoecrafters Inc., Edward Green & Co. Ltd., Italian Shoe Factory, AliveShoes Inc., Undandy S.A., Right Way Custom Molded Shoes Inc., J.M. Weston SAS, Toesmith Shoes Inc.
North America was the largest region in the custom shoes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the custom shoes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the custom shoes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The custom shoes market consists of sales of products such as sneakers, dress shoes, boots, sandals, loafers, flats, oxfords, and moccasins. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Custom Shoes Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on custom shoes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for custom shoes ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The custom shoes market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.