by Custom shoes have come a long way from mass-produced shoes that are manufactured in standard sizes. Their popularity lies in providing an exact fit as well as allowing the customers to customize various aspects of the shoes like style, design, material and colors. This has elevated shoes from being a basic necessity to a fashion item. Custom shoes come in various styles and are tailored to meet specific requirements of different activities like running, walking, sports and casual wear. They are designed keeping ergonomics and biomechanics in mind to offer optimum comfort. Many brands offer a wide range of options on their websites to design one’s own shoes. The global Custom Shoes Market is estimated to be valued at US$ 5.03 Bn in 2023 and is expected to exhibit a CAGR of 24% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends witnessed in the custom shoes market is the increased popularity of customized sneakers. Advancements in technology have enabled customers to design their own sneakers online on brand websites or using specialized apps. They can select various elements like color combinations, styles, patterns, lacing systems etc. to create a unique pair. This has boosted the sales of custom sneakers especially among younger consumers who want to sport trendy and personalized footwear. Another key trend is the adoption of 3D printing technology by some brands to manufacture custom shoes. 3D body scanning and 3D printing techniques help create an exact replica of customers’ feet contours for perfect fit and comfort. This high-tech process yields durable, lightweight and aesthetically appealing shoes in minimal time. As technology progresses further, customization of shoes is expected to become more mainstream and consumer-friendly.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the custom shoes market is moderate. While it requires significant capital investment and manufacturing capabilities to produce shoes, new niche players offering customization services can still enter the space.
Bargaining power of buyers: The bargaining power of buyers in the custom shoes market is high. With the growing popularity of customization trend, buyers can easily switch between brands offering custom shoes based on pricing and customization options offered.
Bargaining power of suppliers: The bargaining power of suppliers in the custom shoes market is low. There are numerous raw material suppliers for shoes globally and brands face less threat from supply disruptions.
Threat of new substitutes: The threat of substitutes is low in the custom shoes market. While readymade and private label shoes offer value, custom shoes address specific requirements better through customization.
Competitive rivalry: The competitive rivalry in the custom shoes market is high. Key established brands constantly differentiate themselves through superior customization technologies, varied material options, and faster turnaround times to attract consumers.
Key Takeaways
The Global Custom Shoes Market Size is expected to witness high growth over the forecast period supported by the thriving customization trend and preference for shoes tailored as per individual requirements and style.
Regionally, North America leads currently attributed to high spend capacity of consumers in countries like the US and Canada for customized products. However, Asia Pacific is anticipated to emerge as the fastest growing region led by growing middle class population in China and India demanding bespoke products.
Key players operating in the custom shoes market are Softdel (A UNIDEL Company), ABB Ltd., Hitachi Ltd., Honeywell International, Avnet Inc., Siemens AG, Legrand SA, Schneider Electric SE, Johnson Controls Inc., Huawei Technologies Co. Ltd., Cisco Systems, and IBM Corporation. These players majorly focus on introducing advanced customization technologies like 3D printing, AI-powered personalization, and AR/VR virtual fitting to offer highly customized yet efficient solutions to customers. Brands also collaborate with prominent designers and celebrities to widen their product reach.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
