Saudi Arabia Footwear Market (2023-2029) | Companies, Share, Industry, Size, Trends, Analysis, Growth, Forecast, Value, Outlook, Revenue & COVID-19 IMPACT

Topics Covered in Saudi Arabia Footwear Market Report

Saudi Arabia Footwear Market Report thoroughly covers the market by type and by material. The outlook report provides an unbiased and detailed analysis of the ongoing Market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Saudi Arabia Footwear Market Synopsis

Saudi Arabia Footwear Market is expected to have a major share in the market on growing fashion industry in the Kingdom. The increasing youth population, rising disposable income, and changing consumer preferences are among some of the factors driving the development of the market. Moreover, technological advances have helped manufacturers develop premium quality products that feature a range of sizes and designs for different age groups and genders. Additionally, several initiatives taken by government authorities to encourage local production have also positively impacted the regional footwear industry in recent years.

According to 6Wresearch, Saudi Arabia Footwear Market size is projected to grow by 3.66% resulting in a market volume of US$2.90bn during 2023-2029.  There are several factors that are driving the growth of the footwear market in Saudi Arabia. The country's young and growing population, characterized by a significant youth demographic, contributes to a significant demand for footwear. Young consumers often seek trendy and stylish shoes, driving the market's fashion-oriented segment.  The economic diversification efforts, such as Vision 2030 which has promoted tourism, entertainment, and cultural events in Saudi Arabia have bolstered the growth of the market. These initiatives have spurred a demand for footwear suited to leisure activities, sports, and outdoor events, thereby expanding market opportunities. The increasing urbanization and changing lifestyles have led to a preference for more comfortable and casual footwear options, driving the sales of sneakers, sandals, and other casual styles in the country. There are certain challenges that exist in the market. Several international branded accessories are available easily across retail stores throughout the country providing competition against locally manufactured products implying that consumers often opt for imported brands due to price differences along with superior product quality offered comparatively. This factor has restricted regional manufacturers’ ability to expand their revenue streams significantly therefore affecting negatively the overall performance graph accordingly and this factor has led to a decrease in  Saudi Arabia Footwear Market Growth.

Covid 19 Impact on the Market

The impact of COVID-19 on Saudi Arabia footwear industry has been severe due to government-imposed restrictions on movement coupled with disruption caused by supply chain disruptions which have resulted in decreased production output along with challenges faced by companies while operating their retail outlets amid the pandemic conditions creating an overall negative impact on businesses across all sectors including the footwear sector. However, there had been some relief provided through e-commerce expansion that allowed retailers to operate digitally amidst lockdown measures thus providing some cushioning effect.

Government Policies Introduced in the Saudi Arabia Footwear Market

The government of Saudi Arabia has implemented several policies and regulations to support the growth and development of the footwear market within the country and this factor has contributed to the rise In  Saudi Arabia Footwear Market Share. These policies are aimed at enhancing the quality of the product, the safety of the consumers, and promoting domestic manufacturing and retailing. The government enforces strict quality standards for footwear products, including requirements for materials, durability, and comfort. These regulations are designed to safeguard consumers against substandard or unsafe footwear products. The Saudi government has encouraged the localization of manufacturing processes, including in the footwear sector. By promoting local production, the government seeks to reduce the country's reliance on imported footwear and boost domestic manufacturing capabilities. This effort aligns with broader economic diversification initiatives, aiming to create jobs and stimulate economic growth within the country. The government has also played a role in fostering the growth of retail infrastructure by facilitating the establishment of shopping malls and retail outlets.

Key players in the market

The Footwear market In Saudi Arabia consists of domestic and international players. Some of the key domestic footwear brands include Redtag, Nayomi, and Femi9, which have established a strong presence in the market and cater to different segments of the region, these companies offer from casual to formal footwear. International brands like Nike, Adidas, Puma, and Skechers have a significant presence in Saudi Arabia, attracting consumers with their sports, athletic, and casual footwear collections. These global brands heavily benefit from their global recognition and reputation for quality and innovation.

Market By type

Athletic footwear holds a considerable share in the Saudi Arabian market and has experienced impressive growth. The admiration of sports and fitness activities, including running, gym workouts, and outdoor sports, has driven the demand for athletic shoes. International brands such as Nike, Adidas, and Puma are prominent players in this segment, offering a wide range of sports-specific footwear.

Market By Material

According to Shivankar, Research Manager, 6Wresearch, Leather footwear holds a prominent position in the Saudi Arabian market, appreciated for its robustness, superiority, and elegance. Leather shoes are often preferred for formal occasions and are available in a range of designs, including dress shoes and boots.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Saudi Arabia Footwear Market Outlook
• Market Size of Saudi Arabia Footwear Market, 2022
• Forecast of Saudi Arabia Footwear Market, 2029
• Historical Data and Forecast of Saudi Arabia Footwear Revenues & Volume for the Period 2019 - 2029
• Saudi Arabia Footwear Market Trend Evolution
• Saudi Arabia Footwear Market Drivers and Challenges
• Saudi Arabia Footwear Price Trends
• Saudi Arabia Footwear Porter's Five Forces
• Saudi Arabia Footwear Industry Life Cycle
• Historical Data and Forecast of Saudi Arabia Footwear Market Revenues & Volume By Type for the Period 2019 - 2029
• Historical Data and Forecast of Saudi Arabia Footwear Market Revenues & Volume By Athletic for the Period 2019 - 2029
• Historical Data and Forecast of Saudi Arabia Footwear Market Revenues & Volume By Non-Athletic for the Period 2019 - 2029
• Historical Data and Forecast of Saudi Arabia Footwear Market Revenues & Volume By Material for the Period 2019 - 2029
• Historical Data and Forecast of Saudi Arabia Footwear Market Revenues & Volume By Lather for the Period 2019 - 2029
• Historical Data and Forecast of Saudi Arabia Footwear Market Revenues & Volume By Rubber for the Period 2019 - 2029
• Historical Data and Forecast of Saudi Arabia Footwear Market Revenues & Volume By Plastic for the Period 2019 - 2029
• Saudi Arabia Footwear Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Material
• Saudi Arabia Footwear Top Companies Market Share
• Saudi Arabia Footwear Competitive Benchmarking By Technical and Operational Parameters
• Saudi Arabia Footwear Company Profiles
• Saudi Arabia Footwear Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments

By Type

• Athletic
• Non-Athletic

By Material

• Lather
• Rubber
• Plastic

Frequently Asked Questions About the Market Study (FAQs):