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The high heels footwear market size is forecast to increase by USD 2,100 billion at a CAGR of 1.63% between 2024 and 2028. There is a notable trend towards premiumization in high heels footwear, driven by evolving shopping behaviors and increasing demand from developing countries. Consumers are increasingly prioritizing quality and design, leading to a rise in premium offerings within this segment. This shift reflects changing consumer preferences and a growing emphasis on fashion and luxury across global markets. Moreover, evolving shopping behaviors, influenced by digital platforms and changing retail landscapes, further contribute to the popularity of high-end footwear. The rise in demand from developing countries underscores a broader global interest in high heels as a fashion statement and symbol of style. As brands respond to these trends with innovative designs and enhanced quality, the market for premium high heels continues to expand, catering to diverse tastes and preferences worldwide.
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High heels encompass a diverse range of styles and functionalities within the footwear industry, from pumps and kitten heels to stilettos and mid-height heels. They are designed to enhance the visual elongation of the legs, showcasing elegance and serving as fashion statements in professional settings and special occasions. Features like elevated heels, pointy toe designs, and stiletto heels offer versatility and self-expression in personal style choices. For activities like dancing or equestrian activities, performance-oriented high heels like Cuban heels or cowboy boots provide comfort and durability, emphasizing both performance and fashion. The footwear industry responds to these demands with innovations in materials and designs, ensuring that high heels cater to both aesthetic preferences and functional needs, whether for sports or celebrity endorsements. As trends evolve, high heels continue to evolve as symbols of style and sophistication, adaptable to diverse cultural and fashion contexts worldwide.
The premiumization of high heels footwear is the key factor driving global market growth. The demand for premium footwear is expected to rise rapidly owing to high disposable income and celebrity endorsements for various footwear brands. Advances in footwear manufacturing and innovative product designs also increase sales of premium footwear. Currently, the major high-heel footwear brands have a highly focused audience for luxury brands, which includes celebrities and the upper-class population, who can spend on luxury products.
Moreover, with the evolution of fashion products, high heel footwear has also become a luxury product instead of a necessary product, which is the major reason for the high price of these products. Some other business operators, such as jewelry business owners, also manufacture premium footwear to attract customers. For instance, Jada Dubai and Passion Jewelers collaborated on manufacturing diamond-encrusted glam stilettos worth USD17 million, which are made as per the order of the customer. Hence, the premiumization of high heels footwear will be one of the major drivers for the market during the forecast period.
Increased online sales are the primary trend in the global market. Even though brick-and-mortar stores contribute significantly to the market, online sales of footwear have a significant impact on the demand for high-heel footwear. The online segment is expected to witness the highest growth when compared with the offline segment during the forecast period. Quick delivery services and competitive prices are the major factors that will increase online sales. This will raise the demand for high heel footwear during the forecast period. Platforms like Kickstarter and Indiegogo are used to crowdfund different types of high heels products.
Moreover, these platforms help new players enter the market with low capital resources. For instance, Antonia Saint NY offers innovative heels that are as comfortable as sneakers. These new heels are manufactured using ballistic nylon, which lasts longer. This type of footwear is also completely custom-made and ensures a high level of comfort for the wearer. Such factors will increase the market growth during the forecast period.
The increased cost of production is a major challenge to global market growth. The rise in the cost of raw materials and increasing labor costs are the major factors, which raise the cost of production. Ethylene-vinyl acetate (EVA) is one of the major raw materials used in the production of high heel shoes. The price of EVA has witnessed high fluctuations in recent years, thereby increasing the cost of production. Increasing labor charges are another major challenge that increases the cost of production.
However, many footwear manufacturers have shifted their production facilities to countries such as China and India owing to low labor costs. However, labor costs in these countries have also shot up, which has surged the production costs. Many footwear manufacturers have had to adjust to losses due to the shift in manufacturing plants and increased labor costs. Hence, the increased cost of production of high heels footwear will be one of the major restraints for the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Marks and Spencer Group plc - The company offers heel footwear under the name leather block heel ankle boots, the chunky lace up ankle boots, leather block heel knee high boots, leather tassel block heel loafers, buckle knee high boots, leather block heel knee high boots, leather lace up ankle boots, wide fit leather block heel ankle boots and stiletto heel square toe knee high boots.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The offline segment is estimated to witness significant growth during the forecast period. Offline stores such as specialty stores, department stores, hypermarkets, and warehouse clubs come under the offline stores segment, which accounts for a major share of the organized offline market during the forecast period. Offline stores account for the highest share of the global footwear market and market as they make checking sizes, probing the quality, and comparing the products more convenient for buyers.
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The offline segment accounted for USD 18,900 billion in 2018 and showed a gradual increase during the forecast period. Department stores are other major offline stores that sell high heel footwear. These stores have a large portfolio of branded and non-branded products, along with experienced customer service personnel assistance. Customers have access to a wide range of footwear and other high-durability products at these stores. Sears Brands and JCPenney are some examples of department stores. This will increase the demand for the offline footwear segment during the forecast period.
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North America is estimated to contribute 102% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The rise in disposable income, urbanization, low labor cost, and the low cost of raw materials are the major factors driving the market in APAC. China, India, and Japan are the key countries in the region, with China expected to gain the highest share during the forecast period. The adoption of luxury products in the country owing to high disposable income is one of the major factors contributing to the demand for high heel footwear in China. The presence of international players such as Guccio Gucci S.p.A and PRADA S.P.A. further escalate this demand in the country.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
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The design of high heels, characterized by an elevated heel and specific angle, can strain calf muscles and pose health concerns such as foot pain, sprains, and even fractures and deformities due to unsteady walking and difficulty navigating surfaces. Materials like wood, suede, and plastic influence the shoe's stability and comfort, with narrow high heels emphasizing femininity and thick high heels offering more practicality. Innovations in non-slip rubber outsoles enhance stability and safety with innovative outsoles designed for better grip, traction, and friction in various conditions, including wet environments. The footwear manufacturing processes integrate luxurious options and cater to fashion trends influenced by social media and Gen Z preferences, balancing comfort and aesthetic demands. With a focus on foot health, advancements in comfortable footwear and the use of novel materials like 3D printing and virtual reality redefine fashion with functionality, accessible through both boutiques and online/offline distribution channels.
Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 1.63% |
Market growth 2024-2028 |
USD 2,100 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
1.61 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 102% |
Key countries |
China, US, UK, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ACI Footwear, Brian Atwood, Christian Louboutin, Deeasjer Ltd, ECCO Sko AS, Gianni Versace Srl, Hermes International SA, Kering SA, LVMH Group., Manolo Blahnik International Ltd, Marks and Spencer Group plc, Prada Spa, Steven Madden Ltd., Tapestry Inc., Theory, Unlimited Footwear Group BV, Valter Shoes Co, Vestiaire Collective, Yull Ltd, and Zara Footwear Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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