Luxury Footwear Market Size

Luxury Footwear Market size was over USD 38.57 billion in 2024 and is anticipated to cross USD 89.62 billion by 2037, witnessing more than 6.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of luxury footwear is estimated at USD 40.77 billion.

The global luxury footwear market is thriving on the back of increasing number of millionaire population around the globe along with the rising household disposable income of individuals which is resulting in the increase in the purchasing power of consumers for luxury goods such as luxury footwears. According to the statistical report Global Wealth Report 2019 of the Credit Suisse Research Institute, the world observed a change of 2.6% or USD 9087 billion in household wealth during the period 2018-19. Additionally, increasing production of footwears around the globe is also anticipated to contribute significantly towards the growth of the global luxury footwear market. According to the statistical report World Footwear Yearbook 2019 of the Portuguese Footwear, Components and Leather Goods Manufacturers’ Association (APICCAPS), footwear production around the globe in the year 2018 grew by 2.7% from the year 2017, reaching a total of 24.2 billion pairs.