Men’s For­mal Shoes Mar­ket to Reach $9.5 Bil­lion by 2022

Shoes & Accessories - - The Month That Was -

The global Men For­mal Shoes Mar­ket is ex­pected to at­tain a mar­ket size of $9.5 bil­lion by 2022, growing at a CAGR of 7% dur­ing the fore­cast pe­riod. It has been ob­served that nice ap­pear­ance and clean shoes al­ways leaves a good im­pres­sion, es­pe­cially in for­mal events. Men’s for­mal shoe also known as dress shoe is one of the im­por­tant parts of of­fice wears. For­mal shoes give a com­plete look to the for­mal out­fits. Va­ri­ety of op­tions in for­mal shoes are avail­able for dif­fer­ent oc­ca­sions such as meet­ings, sports, ca­sual events, and oth­ers. For­mal shoes have been cat­e­go­rized in dif­fer­ent styles such as Derby, brogue, moc­casin, boots, loafers and oth­ers. These shoes give a nice and for­mal look to the at­tire.

For­mal shoes have wit­nessed prom­i­nent growth in the re­cent years, as they are ex­tremely com­fort­able and also pro­vide a good fash­ion state­ment even in for­mal looks. Most of the for­mal shoes are made of leather. Ox­fords and Monk shoes have gained pop­u­lar­ity due to its style and com­fort. In ad­di­tion to this, Brogues are also in trend, es­pe­cially among younger pop­u­la­tion.

Desert Boots are trend­ing now-a-days. The most re­cent de­signs in desert boots have at­tracted lots of con­sumers. Clarks has re­cently launched its new range of shoe in desert boots, in­spired by chukka boots; ad­di­tion­ally, brogues are also trend­ing. The brogues come in shoe and boot va­ri­ety. The fea­tures add more value to its ris­ing de­mand. There­fore, the va­ri­eties of brogues and ox­ford shoes have been gain­ing pop­u­lar­ity, glob­ally.

The fac­tors driv­ing the growth of men’s for­mal shoe mar­ket are In­crease in the dis­pos­able in­comes of the con­sumers and on­line re­tail­ing. In­no­va­tive de­signs and bet­ter shoe qual­ity have fur­ther con­trib­uted to the growth of men’s for­mal shoe. How­ever, coun­ter­feit prod­ucts could re­strain the growth of men’s for­mal shoe mar­ket.

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