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Loafers Market Size, Share & Trends Analysis Report By Distribution Channel, By End Use (Men, Women, and Kids), By Product (Leather, Fabric/Suede, and Other Products), By Regional Outlook and Forecast, 2024 - 2031

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    Report

  • 312 Pages
  • October 2024
  • Region: Global
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 6020402
The Global Loafers Market size is expected to reach $83.9 billion by 2031, rising at a market growth of 13.1% CAGR during the forecast period. In the year 2023, the market attained a volume of 751.29 million units, experiencing a growth of 14.5% (2020-2023).

The demand for premium loafers has significantly increased in European markets, notably in Italy, France, and the UK, due to the European consumer's reputation for their appreciation of quality craftsmanship. Therefore, the Europe segment acquired more than 1/4th revenue share in the market in 2023. In terms of volume, 193.97 million units of loafers are expected to be utilized by the year 2031 in this region. European brands are increasingly offering loafers that are made from sustainable or vegan materials. Furthermore, the consistent demand for loafers across a variety of consumer segments in European fashion has contributed to the region's substantial revenue share in the market, as they are a popular component of both formal and casual attire.



The growing emphasis on comfort in fashion has further amplified the appeal of loafers. As consumers prioritize comfort alongside style, loafers provide a practical solution by offering cushioned insoles, flexible designs, and breathable materials, all without compromising on elegance.  Additionally, the e-commerce environment allows brands to test new styles, offer exclusive online collections, and reach niche markets. Using data analytics to track consumer preferences and buying behavior, brands can tailor their offerings more effectively, ensuring their loafers align with current fashion trends. The global demand for loafers is anticipated to be further bolstered by the ongoing expansion of e-commerce and digital marketing innovations, particularly as a greater number of consumers transition to online purchasing. Thus, the rise of e-commerce and casual fashion trends are driving the growth of the market.

However, the rise of sneakers has been fueled by several factors, including their ability to combine comfort with style, which appeals to a broad demographic. Brands like Nike, Adidas, and Puma have capitalized on this trend by releasing collections that offer performance benefits and cater to fashion-conscious consumers. Collaborations with designers and influencers have turned sneakers into must-have fashion items, further enhancing their appeal. This has eroded the market share for loafers, often perceived as more formal and less versatile than their sneaker counterparts. Thus, as these alternative footwear options dominate, loafers face an uphill battle to retain their foothold in the market.

Driving and Restraining Factors

Drivers
  • Rise of Casual Fashion Trends
  • Growth of Online Retail Platforms
  • Influence of Social Media and Fashion Influencers
Restraints
  • Substantial Production Costs of Loafers
  • Competition from Alternative Footwear
Opportunities
  • Expanding Middle-Class Population
  • Rapid Development of Innovative Materials
Challenges
  • Growing Concerns Regarding Environmental Impact
  • Low Demand Due to Economic Uncertainty

Product Outlook

Based on product, the market is classified into leather, fabric/suede, and others. The leather segment garnered 67% revenue share in the market in 2023. In terms of volume, 691.08 million units of Leather loafers are expected to be utilized by the year 2031. Leather loafers have long been associated with luxury, durability, and timeless style, making them popular among consumers who prioritize quality and elegance. Leather loafers are particularly appealing in formal and smart-casual attire, as they provide a polished appearance that is appropriate for professional settings or affluent events.

End Use Outlook

On the basis of end use, the market is divided into men, women, and kids. The women segment recorded 37% revenue share in the market in 2023. In terms of volume, 611.73 million units of loafers will be worn by women by the year 2031. The increasing popularity of women loafers can be attributed to shifting fashion trends emphasizing comfort without sacrificing style. Women’s loafers are often available in more diverse designs, colors, and materials, making them a versatile choice for casual and professional settings. As more women seek out fashionable yet practical footwear for daily use, the demand for loafers in this segment has grown considerably.



Distribution Channel Outlook

By distribution channel, the market is segmented into supermarkets/hypermarkets, specialty footwear retailers, online, and others. The specialty footwear retailers segment witnessed 38% revenue share in the market in 2023. In terms of volume, 606.78 million units of loafers are expected to be sold through specialty footwear retailers by the year 2031. Specialty footwear stores provide an exclusive shopping experience, offering a curated selection of loafers that appeal to consumers looking for expert guidance, premium brands, and personalized service.

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment procured 38% revenue share in the market in 2023. In terms of volume, 1.18 billion units of loafer are expected to be utilized by this region by the year 2031. There are numerous factors that contribute to this expansion, such as the region's expanding middle-class population, rising disposable incomes, as well as a growing demand for comfortable yet fashionable footwear. Countries such as China, India, and Japan have seen a rising demand for both luxury and affordable loafers, driven by urbanization and the influence of global fashion trends.

List of Key Companies Profiled

  • Guccio Gucci S.p.A. (Kering Group)
  • Cole Haan (Apax Partners LLP)
  • Church & Co Ltd. (Prada S.p.A.)
  • Salvatore Ferragamo S.p.A
  • Tommy Hilfiger Licensing, LLC (PVH Corp.)
  • PUMA SE (Groupe Artémis S.A.)
  • Tod's S.p.A.
  • Bally
  • Allen Edmonds Corporation
  • SEBAGO Srl

Market Report Segmentation

By Distribution Channel (Volume, Million Units, USD Billion, 2020-2031)
  • Specialty Footwear Retailers
  • Supermarkets/Hypermarkets
  • Online
  • Other Distribution Channel
By End Use (Volume, Million Units, USD Billion, 2020-2031)
  • Men
  • Women
  • Kids
By Product (Volume, Million Units, USD Billion, 2020-2031)
  • Leather
  • Fabric/Suede
  • Other Products
By Geography (Volume, Million Units, USD Billion, 2020-2031)
  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Loafers Market, by Distribution Channel
1.4.2 Global Loafers Market, by End Use
1.4.3 Global Loafers Market, by Product
1.4.4 Global Loafers Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
3.3 Porter Five Forces Analysis
Chapter 4. Global Loafers Market by Distribution Channel
4.1 Global Specialty Footwear Retailers Market by Region
4.2 Global Supermarkets/Hypermarkets Market by Region
4.3 Global Online Market by Region
4.4 Global Other Distribution Channel Market by Region
Chapter 5. Global Loafers Market by End Use
5.1 Global Men Market by Region
5.2 Global Women Market by Region
5.3 Global Kids Market by Region
Chapter 6. Global Loafers Market by Product
6.1 Global Leather Market by Region
6.2 Global Fabric/Suede Market by Region
6.3 Global Other Products Market by Region
Chapter 7. Global Loafers Market by Region
7.1 North America Loafers Market
7.1.1 North America Loafers Market by Distribution Channel
7.1.1.1 North America Specialty Footwear Retailers Market by Country
7.1.1.2 North America Supermarkets/Hypermarkets Market by Country
7.1.1.3 North America Online Market by Country
7.1.1.4 North America Other Distribution Channel Market by Country
7.1.2 North America Loafers Market by End Use
7.1.2.1 North America Men Market by Country
7.1.2.2 North America Women Market by Country
7.1.2.3 North America Kids Market by Country
7.1.3 North America Loafers Market by Product
7.1.3.1 North America Leather Market by Country
7.1.3.2 North America Fabric/Suede Market by Country
7.1.3.3 North America Other Products Market by Country
7.1.4 North America Loafers Market by Country
7.1.4.1 US Loafers Market
7.1.4.1.1 US Loafers Market by Distribution Channel
7.1.4.1.2 US Loafers Market by End Use
7.1.4.1.3 US Loafers Market by Product
7.1.4.2 Canada Loafers Market
7.1.4.2.1 Canada Loafers Market by Distribution Channel
7.1.4.2.2 Canada Loafers Market by End Use
7.1.4.2.3 Canada Loafers Market by Product
7.1.4.3 Mexico Loafers Market
7.1.4.3.1 Mexico Loafers Market by Distribution Channel
7.1.4.3.2 Mexico Loafers Market by End Use
7.1.4.3.3 Mexico Loafers Market by Product
7.1.4.4 Rest of North America Loafers Market
7.1.4.4.1 Rest of North America Loafers Market by Distribution Channel
7.1.4.4.2 Rest of North America Loafers Market by End Use
7.1.4.4.3 Rest of North America Loafers Market by Product
7.2 Europe Loafers Market
7.2.1 Europe Loafers Market by Distribution Channel
7.2.1.1 Europe Specialty Footwear Retailers Market by Country
7.2.1.2 Europe Supermarkets/Hypermarkets Market by Country
7.2.1.3 Europe Online Market by Country
7.2.1.4 Europe Other Distribution Channel Market by Country
7.2.2 Europe Loafers Market by End Use
7.2.2.1 Europe Men Market by Country
7.2.2.2 Europe Women Market by Country
7.2.2.3 Europe Kids Market by Country
7.2.3 Europe Loafers Market by Product
7.2.3.1 Europe Leather Market by Country
7.2.3.2 Europe Fabric/Suede Market by Country
7.2.3.3 Europe Other Products Market by Country
7.2.4 Europe Loafers Market by Country
7.2.4.1 Germany Loafers Market
7.2.4.1.1 Germany Loafers Market by Distribution Channel
7.2.4.1.2 Germany Loafers Market by End Use
7.2.4.1.3 Germany Loafers Market by Product
7.2.4.2 UK Loafers Market
7.2.4.2.1 UK Loafers Market by Distribution Channel
7.2.4.2.2 UK Loafers Market by End Use
7.2.4.2.3 UK Loafers Market by Product
7.2.4.3 France Loafers Market
7.2.4.3.1 France Loafers Market by Distribution Channel
7.2.4.3.2 France Loafers Market by End Use
7.2.4.3.3 France Loafers Market by Product
7.2.4.4 Russia Loafers Market
7.2.4.4.1 Russia Loafers Market by Distribution Channel
7.2.4.4.2 Russia Loafers Market by End Use
7.2.4.4.3 Russia Loafers Market by Product
7.2.4.5 Spain Loafers Market
7.2.4.5.1 Spain Loafers Market by Distribution Channel
7.2.4.5.2 Spain Loafers Market by End Use
7.2.4.5.3 Spain Loafers Market by Product
7.2.4.6 Italy Loafers Market
7.2.4.6.1 Italy Loafers Market by Distribution Channel
7.2.4.6.2 Italy Loafers Market by End Use
7.2.4.6.3 Italy Loafers Market by Product
7.2.4.7 Rest of Europe Loafers Market
7.2.4.7.1 Rest of Europe Loafers Market by Distribution Channel
7.2.4.7.2 Rest of Europe Loafers Market by End Use
7.2.4.7.3 Rest of Europe Loafers Market by Product
7.3 Asia Pacific Loafers Market
7.3.1 Asia Pacific Loafers Market by Distribution Channel
7.3.1.1 Asia Pacific Specialty Footwear Retailers Market by Country
7.3.1.2 Asia Pacific Supermarkets/Hypermarkets Market by Country
7.3.1.3 Asia Pacific Online Market by Country
7.3.1.4 Asia Pacific Other Distribution Channel Market by Country
7.3.2 Asia Pacific Loafers Market by End Use
7.3.2.1 Asia Pacific Men Market by Country
7.3.2.2 Asia Pacific Women Market by Country
7.3.2.3 Asia Pacific Kids Market by Country
7.3.3 Asia Pacific Loafers Market by Product
7.3.3.1 Asia Pacific Leather Market by Country
7.3.3.2 Asia Pacific Fabric/Suede Market by Country
7.3.3.3 Asia Pacific Other Products Market by Country
7.3.4 Asia Pacific Loafers Market by Country
7.3.4.1 China Loafers Market
7.3.4.1.1 China Loafers Market by Distribution Channel
7.3.4.1.2 China Loafers Market by End Use
7.3.4.1.3 China Loafers Market by Product
7.3.4.2 Japan Loafers Market
7.3.4.2.1 Japan Loafers Market by Distribution Channel
7.3.4.2.2 Japan Loafers Market by End Use
7.3.4.2.3 Japan Loafers Market by Product
7.3.4.3 India Loafers Market
7.3.4.3.1 India Loafers Market by Distribution Channel
7.3.4.3.2 India Loafers Market by End Use
7.3.4.3.3 India Loafers Market by Product
7.3.4.4 South Korea Loafers Market
7.3.4.4.1 South Korea Loafers Market by Distribution Channel
7.3.4.4.2 South Korea Loafers Market by End Use
7.3.4.4.3 South Korea Loafers Market by Product
7.3.4.5 Australia Loafers Market
7.3.4.5.1 Australia Loafers Market by Distribution Channel
7.3.4.5.2 Australia Loafers Market by End Use
7.3.4.5.3 Australia Loafers Market by Product
7.3.4.6 Malaysia Loafers Market
7.3.4.6.1 Malaysia Loafers Market by Distribution Channel
7.3.4.6.2 Malaysia Loafers Market by End Use
7.3.4.6.3 Malaysia Loafers Market by Product
7.3.4.7 Rest of Asia Pacific Loafers Market
7.3.4.7.1 Rest of Asia Pacific Loafers Market by Distribution Channel
7.3.4.7.2 Rest of Asia Pacific Loafers Market by End Use
7.3.4.7.3 Rest of Asia Pacific Loafers Market by Product
7.4 LAMEA Loafers Market
7.4.1 LAMEA Loafers Market by Distribution Channel
7.4.1.1 LAMEA Specialty Footwear Retailers Market by Country
7.4.1.2 LAMEA Supermarkets/Hypermarkets Market by Country
7.4.1.3 LAMEA Online Market by Country
7.4.1.4 LAMEA Other Distribution Channel Market by Country
7.4.2 LAMEA Loafers Market by End Use
7.4.2.1 LAMEA Men Market by Country
7.4.2.2 LAMEA Women Market by Country
7.4.2.3 LAMEA Kids Market by Country
7.4.3 LAMEA Loafers Market by Product
7.4.3.1 LAMEA Leather Market by Country
7.4.3.2 LAMEA Fabric/Suede Market by Country
7.4.3.3 LAMEA Other Products Market by Country
7.4.4 LAMEA Loafers Market by Country
7.4.4.1 Brazil Loafers Market
7.4.4.1.1 Brazil Loafers Market by Distribution Channel
7.4.4.1.2 Brazil Loafers Market by End Use
7.4.4.1.3 Brazil Loafers Market by Product
7.4.4.2 Argentina Loafers Market
7.4.4.2.1 Argentina Loafers Market by Distribution Channel
7.4.4.2.2 Argentina Loafers Market by End Use
7.4.4.2.3 Argentina Loafers Market by Product
7.4.4.3 UAE Loafers Market
7.4.4.3.1 UAE Loafers Market by Distribution Channel
7.4.4.3.2 UAE Loafers Market by End Use
7.4.4.3.3 UAE Loafers Market by Product
7.4.4.4 Saudi Arabia Loafers Market
7.4.4.4.1 Saudi Arabia Loafers Market by Distribution Channel
7.4.4.4.2 Saudi Arabia Loafers Market by End Use
7.4.4.4.3 Saudi Arabia Loafers Market by Product
7.4.4.5 South Africa Loafers Market
7.4.4.5.1 South Africa Loafers Market by Distribution Channel
7.4.4.5.2 South Africa Loafers Market by End Use
7.4.4.5.3 South Africa Loafers Market by Product
7.4.4.6 Nigeria Loafers Market
7.4.4.6.1 Nigeria Loafers Market by Distribution Channel
7.4.4.6.2 Nigeria Loafers Market by End Use
7.4.4.6.3 Nigeria Loafers Market by Product
7.4.4.7 Rest of LAMEA Loafers Market
7.4.4.7.1 Rest of LAMEA Loafers Market by Distribution Channel
7.4.4.7.2 Rest of LAMEA Loafers Market by End Use
7.4.4.7.3 Rest of LAMEA Loafers Market by Product
Chapter 8. Company Profiles
8.1 Guccio Gucci S.p.A. (Kering Group)
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Recent strategies and developments:
8.1.4.1 Geographical Expansions:
8.1.5 SWOT Analysis
8.2 Cole Haan (Apax Partners LLP)
8.2.1 Company Overview
8.2.2 Recent strategies and developments:
8.2.2.1 Partnerships, Collaborations, and Agreements:
8.2.2.2 Geographical Expansions:
8.2.3 SWOT Analysis
8.3 Church & Co Ltd. (Prada S.p.A.)
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Regional Analysis
8.3.4 SWOT Analysis
8.4 Salvatore Ferragamo S.p.A
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Regional Analysis
8.4.4 Research & Development Expenses
8.5 PUMA SE (Groupe Artémis S.A.)
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Regional Analysis
8.5.4 Research & Development Expense
8.5.5 SWOT Analysis
8.6 Tommy Hilfiger Licensing, LLC (PVH Corp)
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.7 Tod's S.p.A.
8.7.1 Company Overview
8.7.2 Financial Analysis
8.8 Bally
8.8.1 Company Overview
8.9 Allen Edmonds Corporation
8.9.1 Company Overview
8.10. Sebago
8.10.1 Company Overview
Chapter 9. Winning Imperatives of Loafer Market

Companies Mentioned

Some of the key companies profiled in this Loafers Market include:
  • Guccio Gucci S.p.A. (Kering Group)
  • Cole Haan (Apax Partners LLP)
  • Church & Co Ltd. (Prada S.p.A.)
  • Salvatore Ferragamo S.p.A
  • Tommy Hilfiger Licensing, LLC (PVH Corp.)
  • PUMA SE (Groupe Artémis S.A.)
  • Tod's S.p.A.
  • Bally
  • Allen Edmonds Corporation
  • SEBAGO Srl

Methodology

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