Product Code: ETC037129 | Publication Date: Jul 2023 | Updated Date: Apr 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
The Philippines Footwear Market is projected to witness mixed growth rate patterns during 2025 to 2029. Growth accelerates to 16.56% in 2028, following an initial rate of 10.85%, before easing to 15.07% at the end of the period.
By 2027, Philippines's Footwear market is forecasted to achieve a exponential growth rate of 15.63%, with China leading the Asia region, followed by India, Japan, Australia and South Korea.
The Philippines footwear market is expected to register a CAGR of 6.9% during the forecast period (2025-2031). The country`s growing middle class population, increasing disposable income levels, and changing lifestyles are driving the growth of the footwear market in the country. Additionally, rising health awareness among consumers has also increased their preference for quality and comfortable shoes over traditional ones. Furthermore, innovative marketing strategies adopted by brands in order to capitalize on influencer marketing have further propelled the market growth in recent years
Innovative styles such as platform sneakers and dad shoes are gaining popularity among Filipino consumers, especially amongst millennials. Consumers are increasingly opting for designer labels when it comes to buying shoes due to its fashionable appeal which gives them a feeling of luxury at an affordable price range compared to other luxury items like bags or clothes. Moreover, comfort factor has become one of the major criteria for selecting shoes with several players introducing orthopedic footwears specially designed for people suffering from feet problems or pain while walking or running long distances
The rapid development witnessed in technology coupled with greater internet penetration has led to rising online sales across various countries aiding market growth significantly. This trend is more prominent within developing countries such as Philippines where customers prefer shopping products at convenience through online channels instead of visiting physical stores owing to constraints related time and distance traveled among others from retail outlets thereby fueling demand within domestic markets substantially during forecasted timeframe
Though there exists considerable potential yet availability of counterfeit products hinders expansion within Philippine footwear industry posing threats towards original brand owners affecting their reputation negatively thus restraining overall revenue generation trends negatively over short run
Some leading players operating in Philippine footwear industry comprise Adidas AG; Nike Inc.; Unico Group Corporation; LaCoste S A; Globe International Footwear Company Limited; Puma SE; Skechers USA Inc.; Converse Inc., FILA Holdings SpA and Pacific Brands Limited among others
The outbreak of coronavirus pandemic had severely impacted international trade resulting closure business operations temporarily obstructing smooth working environment across production units hence limiting supply chain activities affecting overall profit margins adversely over short run however with gradual unlocking phases few companies have started functioning again restarting manufacturing processes positively impacting overall key performances indices gradually helping companies survive difficult times ahead restoring confidence amongst investors globally providing much needed impetus towards industry participants successfully throughout
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Philippines Footwear Market Overview |
3.1 Philippines Country Macro Economic Indicators |
3.2 Philippines Footwear Market Revenues & Volume, 2021 & 2031F |
3.3 Philippines Footwear Market - Industry Life Cycle |
3.4 Philippines Footwear Market - Porter's Five Forces |
3.5 Philippines Footwear Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.6 Philippines Footwear Market Revenues & Volume Share, By Material, 2021 & 2031F |
4 Philippines Footwear Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Philippines Footwear Market Trends |
6 Philippines Footwear Market, By Types |
6.1 Philippines Footwear Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 Philippines Footwear Market Revenues & Volume, By Type, 2021-2031F |
6.1.3 Philippines Footwear Market Revenues & Volume, By Athletic, 2021-2031F |
6.1.4 Philippines Footwear Market Revenues & Volume, By Non-Athletic, 2021-2031F |
6.2 Philippines Footwear Market, By Material |
6.2.1 Overview and Analysis |
6.2.2 Philippines Footwear Market Revenues & Volume, By Lather, 2021-2031F |
6.2.3 Philippines Footwear Market Revenues & Volume, By Rubber, 2021-2031F |
6.2.4 Philippines Footwear Market Revenues & Volume, By Plastic, 2021-2031F |
7 Philippines Footwear Market Import-Export Trade Statistics |
7.1 Philippines Footwear Market Export to Major Countries |
7.2 Philippines Footwear Market Imports from Major Countries |
8 Philippines Footwear Market Key Performance Indicators |
9 Philippines Footwear Market - Opportunity Assessment |
9.1 Philippines Footwear Market Opportunity Assessment, By Type, 2021 & 2031F |
9.2 Philippines Footwear Market Opportunity Assessment, By Material, 2021 & 2031F |
10 Philippines Footwear Market - Competitive Landscape |
10.1 Philippines Footwear Market Revenue Share, By Companies, 2024 |
10.2 Philippines Footwear Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |