by The global Custom Shoes Market is estimated to be valued at US$ 5.03 billion in 2022 and is expected to exhibit a CAGR of 11.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The global custom shoes market involves manufacturing of shoes as per customer’s need and design preferences. Customers can select from various design aspects such as style, material, color and others and get a perfectly tailored pair of shoes. Advancements in 3D printing and scanning technology have made it possible to precisely replicate customers’ feet structure and create ergonomic shoes catering to individual requirements. This has boosted adoption of custom shoes among professionals such as athletes and dancers who need specialized footwear. Growing demand for unique and one-of-a-kind footwear experience is also fueling market growth.
Market key trends:
One of the key trends influencing market growth is rising utilization of 3D printing for custom shoe production. 3D printing allows for additive manufacturing and enables creating intricate designs that were not possible before with traditional manufacturing methods. It facilitates on-demand production, reduced waste and higher structural complexity as per customer needs. This technology is enabling fast and affordable mass customization of shoes. Another notable trend is increasing focus of vendors on integrating novel materials in shoes such as carbon fiber composites and lightweight plastics. Use of such advanced materials provides optimum support, flexibility and comfort tailored to individual biomechanics. This is driving many professional athletes to opt for fully customized performance shoes.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to high initial investment required for manufacturing facilities and brand recognition.
Bargaining power of buyers: The bargaining power of buyers is high due to the presence of multiple brands and customized product offerings for buyers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as key raw materials are readily available and there are multiple suppliers.
Threat of new substitutes: The threat of new substitutes is moderate as athletic shoes and casual shoes are the major substitutes.
Competitive rivalry: The competitive rivalry in the custom shoes market is high due to the presence of key global players.
Key Takeaways
The global Custom Shoes Market Demand is expected to witness high growth, exhibiting CAGR of 11.8% over the forecast period 2023-2030, due to increasing consumer preference for unique and personalized footwear designs. The market size for custom shoes is estimated to reach US$ 5.03 billion in 2023.
North America is expected to dominate the custom shoes market during the forecast period. The increasing demand for premium and customized shoes among high-income consumer groups is fueling market growth in the region. Moreover, the presence of key market players such as Nike, Adidas, New Balance is further supporting market expansion.
Key players operating in the custom shoes market include Nike, Adidas, New Balance, Puma, Asics, Skechers, Vans, Converse, Sperry, Crocs, Timberland, Clarks, ECCO, Wolverine Worldwide, Deckers Brands, Aldo Group, Genesco, Steve Madden, Caleres, and GEOX. Players are launching new collection of customized shoes to cater to the evolving consumer preference for personalized products.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
