Luxury Footwear Market Report, Industry Overview, Growth Rate and Forecast 2026
IMARC Group expects the global luxury footwear market to grow moderately during the forecast period (2021-2026).
BriefingWire.com, 4/15/2021 -
According to the latest report by IMARC Group, titled, âLuxury Footwear Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026?, The global luxury footwear market grew at a CAGR of around 5% during 2015-2020. Looking forward, IMARC Group expects the global luxury footwear market to grow moderately during the forecast period (2021-2026).
Luxury footwear is made up of premium quality materials. On the basis of durability, uniqueness, and comfort, it can be compared to its affordable counterparts. It is expensive, exclusive, and scarcely available in the market as it is not mass-produced. The increasing preference for lavish fashion brands as a status symbol is positively impacting the market.