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PVC Footwear Market Size To Reach $96.87Bn By 2030

PVC Footwear Market Size To Reach $96.87 Billion By 2030

August 2023 | Report Format: Electronic (PDF)

PVC Footwear Market Growth & Trends

The global PVC footwear market size is estimated to reach USD 96.87 billion in 2030 and is anticipated to grow at a CAGR of 5.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. Versatility and durability are important factors influencing consumer choices, manufacturing techniques, and market developments in the polyvinyl chloride (PVC) footwear sector. PVC, or polyvinyl chloride, is a synthetic substance known for its durability, versatility, and strength. PVC is a strong, resilient polymer that can withstand tear and wear, making a range of uses possible. It is appropriate for footwear used in locations having severe conditions, such as factories or construction sites, due to its resilience and resistance to water, chemicals, abrasion, and weathering.

In terms of product, the shoes segment dominated the market and held a major share in 2022. PVC is a popular material for many types of footwear because of its strength, water resistance, and economical cost. As PVC shoes offer a variety of styles and designs, they are most preferred by customers. Due to its water resistance property, PVC shoes are well suited for damp or rainy weather. It shields the feet from dampness, keeping them dry and comfortable. PVC shoes are extremely long-lasting and sturdy, making them perfect for both indoor and outdoor activities. The fabric is abrasion-resistant and durable, making it appropriate for tasks like hiking or places of workplace where solid footwear is needed. In terms of distribution channels, the offline segment held the largest market size in 2022.

PVC shoes are frequently purchased via physical retail establishments, such as shoe shops, department stores, bargain stores, and specialist shoe shops. These shops provide a variety of PVC shoe brands and designs, enabling customers to physically try them on and buy them in person. In the offline distribution of PVC footwear, wholesalers and distributors are important players. They buy large quantities of PVC shoes directly from manufacturers, which they subsequently distribute to retail establishments. Wholesalers serve as middlemen, giving retailers access to a wide range of PVC shoe options for their inventory. In terms of region, Asia Pacific accounted for a significant share of the market in 2022. PVC shoes typically cost less than those made of other materials, including leather or expensive synthetic fabrics.

Due to this, consumers with a range of incomes, including those with lower disposable incomes, can access it. Asian buyers love the affordability that PVC footwear offers. For the same price as a single pair made of more expensive materials, they can buy numerous pairs of footwear manufactured of PVC. Therefore, people may choose from a selection of shoes without having to stretch their wallets. PVC shoes are an excellent alternative for consumers in the region looking for trustworthy, reasonably priced footwear that can survive daily wear and tear due to their cost-effectiveness. Various strategies are adopted by key companies including partnerships, mergers & acquisitions, global expansions, etc. to gain higher market shares.

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PVC Footwear Market Report Highlights

North America is expected to grow with a considerable CAGR of 5.2% over the forecast period from 2023 to 2030. Increasing focus of manufacturers on innovation, expansion into new markets, and collaboration with multinational brands help increase the visibility and demand for PVC footwear and boost sales
The flip flops segment is estimated to grow with the fastest CAGR of 5.7% over the forecast period of 2023 to 2030. Flip flops are a great option for water-related activities like relaxing by the pool, going to the beach, or any other activity because of PVC's water-resistance features, which is resulting in their increased use thus driving the segment’s growth
In terms of distribution channels, the online segment is expected to grow with the fastest CAGR of 6.2% from 2023 to 2030. Market growth is being driven by the increasing use of online channels for shopping purposes as it provides convenience and comfort