As per newly released data by Future Market Insights (FMI), the light up shoes marketis estimated at USD 254.4 million in 2022 and is projected to reach USD 376.5 million by 2033, at a CAGR of ~4.00% from 2023 to 2033.
There are many driving factors that are fuelling the light up shoes market. the main market for the light up shoes are United States, China and Korea. The influence of celebrities, use of light up shoes by social media influencers and content creators, use of light up gears and accessories at concerts, night clubs and rave parties and do-it-yourself light up shoes trends in many countries are helping the market growth.
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The considered dead trend of light up shoes from 90s is revived again by the now adult 90s kids. Manufacturers are marketing and selling the light up shoes on their official websites and online market places. As these are the most common purchasing platforms and the distribution channels are wide spread and well developed, due to use of internet, people can purchase products from different countries and get them home delivered, without any hassle.
On the other hand, it is expected that the availability of locally manufactured, replicated, or phoney products would limit market growth. The COVID-19 outbreak had many countries to regulate the import and export, ultimately affecting the raw material supply chain, posing a challenge for the light up shoes industry.
Key Takeaways from the Light Up Shoes Market Study
- The lace-up light up shoes are the popular type among all the different shoes type. These shoes are bit heavy, as they have LED light and batteries, and to give better grip and comfort, these shoes have laces, which have overall best holding strength.
- Rubber soles are widely used for light up shoes. Transparent rubber soles and translucent soles are utilised in light up shoes to make them seem high-end while also keeping light from spreading inside the shoes.
- Men’s light up shoes are in higher demand than children’s and women’s light up shoes. Although there are several makers of unisex shoes, men are the primary customers and users of light up shoes.
- In the case of regional analysis of regions like the North America and Asia is expected to gain traction in the light up shoes market.
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“The light up shoes are trending again in many countries. The night life of party people and increasing number of music concerts are responsible for increasing trend for the light up shoes.” Says an FMI Analyst.
Impact of COVID-19 on the Market
The COVID-19 epidemic led to closing of many sectors temporarily. The public places were closed, as the virus spreads through contact and air. The public transportation had regulations and public gathering were banned. This led to postpone of music concerts and festivals, along with night clubs and bars. These places are the common places where people went to enjoy the nightlife and party. These places arranged events as light parties and rave parties, where people used light up shoes.
The import and export of the raw material and shoes was also limited due to regulations by governments of different countries. All these factors affected the light up shoes market.
Who is winning?
Leading players operating in the Light Up Shoes Market Skechers, Bold N Elegant, Voovix, Mr. SHOES, Li Ning Shoes, BRIGHT LED shoes, The Quirky Naari, Flyknit, CHiU, DIYJTS and among others.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the Light Up Shoes Market by Product Type (Adult LED Shoes, Children LED Shoes), Closure Type (Lace-Up, Elastic, Velcro, Slip-on, Others), Sole Material (Rubber, Polyurethane, Leather, EVA, Others), Outer Material (Genuine Leather, Faux Leather, Canvas, Mesh, Other), Sales Channel (Multi-brand Stores, Independent Small Stores, Online Retailers, Others) & Region – Forecast to 2022-2032
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