The Slip on Shoes Market is estimated at USD 151 million in 2022 and is projected to reach USD 213 million by 2032, at a CAGR of ~3.5% from 2022 to 2032.
Slip-on shoes are gaining popularity in practically every corner of the world. People’s lives are becoming more hectic in the post-pandemic age, thus they are seeking appropriate footwear that will complement all of their outfits and events.
Furthermore, individuals are participating in numerous activities that need significant physical participation, which is fuelling the slip on shoes industry. Women are also becoming interested in slip on shoes. Several major manufacturers are working on the creation of slip on shoes that are specifically designed for ladies and will meet their needs.
While fashion trends will continue to change, there will be a constant need for new types and designs of slip-on shoes, which is expected to benefit the market. Furthermore, the availability of counterfeit items will function as a deterrent in the slip on shoes industry. Other causes include an increase in production costs as raw material prices rise. However, the slip on shoes market will develop at a reasonable rate throughout the projected timeline.
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Key Takeaways from the Slip on Shoes Market Study
- During the projected period, e-commerce is predicted to be the largest sales channel. As consumer tastes alter, more people prefer online retailing to conventional brick-and-mortar stores. As a result, businesses are increasing their online market presence. The availability of a varied selection of casual shoes is one of the key factors fuelling the expansion of the online sales channel.
- Women’s shoes are in high demand and are constantly growing in price. Women’s sneakers are being targeted by major footwear brands, and the market is being boosted by specific advertising and branding.
- As a consequence of significant product demand from the United States, along with shifting fashion trends and customer preferences regarding shoe colour, material, and so on, North America emerged as the largest regional market. This is likely to encourage manufacturers to introduce new goods in this region or export them at competitive rates, resulting in increased sales volume in the coming years.
“People are becoming more active in many physical activities, which necessitates the use of multipurpose footwear. This need is being met by slip on shoes, which will benefit the market.” Says an FMI Analyst.
Impact of COVID-19 on the Market
Global market growth slowed down in 2020 as a result of the COVID-19 epidemic. Lockdowns were imposed by governments as a result of the outbreak, which resulted in individuals being confined to their homes.
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Major sporting events and leisure activities were postponed as a result, which limited the demand for skating shoes in Q1 2020. The market for skating shoes will keep expanding during the forecast period now that tensions have eased and individuals may once again enjoy sporting activities. Moreover people are bored sitting at homes and have started to look at sports as a recreational activity.
Who is winning?
Leading players operating in the Slip on Shoes market Louis Vuitton, Adidas Group, Nike Inc., New Balance, ASICS, PUMA SE, Under Armour Inc., Vans, Reebok, Woodland, Cariuma, Converse among others.
Slip on Shoes Market by Category
By Closure Type, Slip on Shoes Market is segmented as:
- Synthetic
- Fabric
- Leather
- Others
By Application, Slip on Shoes Market is segmented as:
- Sports
- Lifestyle
- Competition
By Consumer Orientation, Slip on Shoes Market is segmented as:
- Men
- Women
By Sales Channel, Slip on Shoes Market is segmented as:
- Hypermarket/Supermarket
- Wholesalers/Distributors
- Specialty Stores
- Multi-brand Stores
- Independent Small Stores
- Online Retailers
- Other Sales Channel
By Region, Slip on Shoes Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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