The global market for leather footwear is expected to grow from an estimated $170.1 billion in 2020 to $208.6 billion in 2027, rising by an annual average of 3 percent over the period, according to ResearchAndMarkets.com.

Men’s shoes are predicted to rise by an annual average of 3.3 percent to $123.1 billion in 2027. Meanwhile, the market for women’s shoes is expected to rise by an annual average of 2.5 percent and the children’s segment by 2.1 percent.