The global loafers market was valued at USD 8.2 billion in 2021 and is projected to expand at a CAGR of 8.2% from 2022 to 2030. Loafers are a type of slip-on shoe, typically in leather or suede, and are often considered to be more formal than sneakers. The increasing popularity of loafers has been driven by the rise of casual fashion and the desire for stylish yet comfortable footwear. Additionally, the influence of celebrities and influencers has contributed to an increase in popularity. For instance, in April 2021, the singer and actress Jennifer Lopez was spotted wearing a pair of Gucci loafers.

The growing trend of athleisure has also contributed to the rising demand for loafers. Brands are increasingly focusing on introducing new and innovative designs to cater to the demand of customers. For instance, in January 2021, Nike launched the Air Max Loafer, which combines the style of a classic loafer with the modern technology of Nike’s signature Air Max cushioning. Furthermore, the growing trend of customization has also been driving the demand for loafers. Companies are offering customers the option of customizing their footwear with a range of colors, materials, and designs to choose from.

The rising preference for vegan leather is also driving the demand for loafers. The increasing number of vegan leather offerings has made it easier for customers to make sustainable choices in their footwear. Furthermore, the growing trend of sustainability has led to an increase in the demand for eco-friendly leather-alternative products. For instance, in May 2021, the footwear brand Allbirds launched its first vegan leather shoe, the Tree Breezers Loafer. The company’s vegan leather is made from Eco-PU, a sustainable, petroleum-free material.

The increasing disposable income and the growing demand for luxury products have contributed to the rising demand for premium loafers. Additionally, the growing trend of gifting, especially in the holiday season, has also been driving the demand for premium loafers. Furthermore, the growing trend of online shopping has led to an increase in the sales of premium loafers. Online shopping has made it easier for customers to compare different brands, enabling them to make an informed decision.

The fabric segment accounted for the largest share of the loafers products market in 2022 and is projected to register the highest CAGR of 7.1% during the forecast period. The demand for fabric loafers is increasing owing to their durability and breathable nature. Furthermore, the increasing trend of wearing casuals that are comfortable and stylish is further driving the demand for these products. Moreover, the emergence of e-commerce platforms and the rising popularity of online shopping are also contributing to the growth of the segment.

The leather segment is expected to witness significant growth over the forecast period. The increasing adoption of leather loafers among consumers is attributed to their style, comfort, and durability. Leather loafers are considered as a classic style statement and are preferred by many people due to their long-lasting nature. Additionally, the growing trend of wearing formal, semi-formal, and party wear is also expected to contribute to the growth of the segment.

The department stores segment dominated the market with a share of over 50% in 2022. Department stores offer a range of products and services, including clothing, footwear, accessories, and beauty & personal care products. One of the factors driving the growth of the segment is the availability of discounts and offers, which helps customers purchase loafers at a reduced price. In addition, department stores provide a one-stop shopping experience to customers, as they can purchase loafers along with other items such as clothes, jewelry, and accessories from the same store.

The online segment is expected to expand at the highest CAGR of 8.9% over the forecast period. The penetration of the internet has enabled customers to purchase loafers online conveniently, as they can compare various products at the click of a button and make the purchase decision accordingly. Moreover, the availability of discounts and offers on e-commerce websites is a major factor driving the growth of the segment. For instance, in May 2021, Amazon offered discounts and offers of up to 70% on loafers.

The casual segment accounted for the largest revenue share of 65.5% in the year 2022. The growing acceptance of casual footwear among the consumers, along with the increasing demand for leisure and comfort shoes, is driving the growth of the casual segment. Furthermore, the growing demand for loafers with casual dressing is also driving the growth of the segment. For instance, in November 2019, Alden Shoe Company, an American footwear manufacturer, released a new collection of loafers, which was designed to be worn casually with jeans or khakis.

The formal segment is anticipated to expand at the highest CAGR of 7.5% over the forecast period. The growing demand for smart and formal dressing is driving the growth of the segment. Moreover, the rising trend of wearing loafers with formal attires such as suits is also driving the growth of the segment. For instance, in March 2019, the American fashion designer, Tom Ford, released a collection of formal shoes, which included loafers.

Europe emerged as the largest regional market for loafers, accounting for a share of over 37.4% of the overall market revenue in 2022. This is attributed to the presence of a large number of fashion brands in the region, such as Gucci, Prada, and Louis Vuitton, that manufacture a wide range of loafers for men and women. Additionally, the increasing popularity of loafers among millennials, due to its comfort and style, is expected to create a positive outlook for the market in the region.

Asia Pacific is expected to be the fastest-growing regional market during the forecast period, owing to increasing urbanization and rising per capita income in the region. The growth of the region is further attributed to the presence of a large number of manufacturers in countries such as China, India, and Bangladesh, who produce a variety of loafers at low cost. The increasing trend of online shopping, especially in countries such as China, India, and Japan, is another major factor that is expected to contribute to the growth of the market in the region.

In this part of the Loafers Products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your Loafers Products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions

The main source of revenues for a Loafers Products business comes from sales of various types of products such as loafers, shoes, boots, sandals, sneakers, and accessories. Here you will find a list with a description of each of them and other possible sources of profit such as wholesaling, retail, and e-commerce.

Projecting Expenses

In this section, all the regular expenses related to keeping the Loafer Products business running will be described. The list of operating expenses includes costs of raw materials, manufacturing and production, shipping and logistics, advertising, labor costs, rent, utilities, insurance policies, and others.

Some of the key companies operating in the loafers market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Gucci launched the Ophidia GG Supreme loafer, which is a combination of the signature GG canvas and the House’s iconic green and red web.

– In August 2022, Louis Vuitton launched the signature LV Archlight Loafer, which is a combination of a modern sneaker and a classic loafer.

– In October 2022, Prada launched the new leather loafers, the shoes feature the signature Prada logo on the vamp and a contrasting sole.

Some of the prominent players in the loafers market include:

– Gucci
– Louis Vuitton
– Prada
– Versace
– Salvatore Ferragamo
– Tod’s
– Zara
– Allen Edmonds
– Cole Haan
– Johnston & Murphy

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global loafers market based on product type, distribution channel, material type, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Casual Loafers
– Driving Loafers
– Monk Loafers
– Tassel Loafers
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Material Type Outlook (Revenue, USD Million, 2017 – 2030)

– Leather
– Synthetic
– Others

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What is the Potential of Product Innovation in the Loafers Market?
[A]: Product innovation is a key factor in driving growth in the loafers market. Companies are introducing new designs, styles, and materials to cater to the changing fashion trends and demands of consumers. Companies are also introducing new technologies to make loafers more comfortable, stylish, and durable, such as cushioning technologies, shock-absorption technologies, and waterproofing technologies.

[Q]: Who are the Key Players in the Loafers Market?
[A]: Major players in the loafers market include Nike, Adidas, Clarks, Crocs, Dr. Martens, Birkenstock, Converse, Cole Haan, Pikolinos, and Skechers.

[Q]: Which Region Offers the Largest Opportunity for Sales of Loafers?
[A]: North America is expected to be the largest market for loafers, due to the increasing number of fashion-conscious consumers and the growing popularity of casual shoes.

[Q]: What are the factors driving the loafers market?
[A]: Factors such as the increasing popularity of athleisure wear, the growing demand for comfortable footwear, and the increasing per capita disposable income of consumers are expected to drive market growth. Additionally, the increasing number of fashion-conscious consumers, particularly among the youth, is expected to drive the demand for stylish loafers.