Global Footwear Market's Modest 0.9% Volume CAGR Signals Gradual Recovery Through 2035

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The article provides a comprehensive analysis of the global footwear market in 2024, with forecasts to 2035. It reports a current market volume of 14 billion pairs, valued at $177.2 billion, following recent declines. Key consuming countries are China, the United States, and India. Production is dominated by China, while the United States is the largest importer. The market is forecast to grow at a CAGR of +0.9% in volume and +2.6% in value over the next decade, reaching 15 billion pairs and $235.3 billion by 2035. The analysis covers detailed breakdowns by product type, country-level trade flows, and price trends.

Key Findings

• Global footwear consumption declined to 14B pairs in 2024 but is forecast for a slight recovery with a +0.9% volume CAGR through 2035
• Market value is projected to grow faster at +2.6% CAGR, reaching $235.3B by 2035, indicating a trend towards higher-value footwear
• China is the dominant producer (56% share) and consumer, while the United States is the world's largest importer
• Leather footwear holds the highest market value despite not being the most consumed type by volume
• Import and export prices are rising globally, with leather footwear commanding the highest average price per pair

Market Forecast

Driven by rising demand for footwear worldwide, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.9% for the period from 2024 to 2035, which is projected to bring the market volume to 15B pairs by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.6% for the period from 2024 to 2035, which is projected to bring the market value to $235.3B (in nominal wholesale prices) by the end of 2035.

Consumption

World's Consumption of Footwear

For the third consecutive year, the global market recorded decline in consumption of footwear, which decreased by -7.4% to 14B pairs in 2024. In general, consumption continues to indicate a mild reduction. Over the period under review, global consumption attained the peak volume at 21B pairs in 2019; however, from 2020 to 2024, consumption failed to regain momentum.

The global footwear market size shrank to $177.2B in 2024, reducing by -9.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a slight expansion. As a result, consumption attained the peak level of $336.8B. From 2019 to 2024, the growth of the global market remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2024 were China (2.1B pairs), the United States (1.9B pairs) and India (878M pairs), with a combined 35% share of global consumption. Brazil, Japan, Bangladesh, Germany, Pakistan, Turkey and Indonesia lagged somewhat behind, together accounting for a further 24%.

From 2013 to 2024, the biggest increases were recorded for Turkey (with a CAGR of +6.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($35B), the United States ($26B) and India ($10.1B) were the countries with the highest levels of market value in 2024, with a combined 40% share of the global market.

In terms of the main consuming countries, India, with a CAGR of +12.6%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of footwear per capita consumption in 2024 were the United States (5.7 pairs per person), Germany (5.2 pairs per person) and Japan (4.9 pairs per person).

From 2013 to 2024, the biggest increases were recorded for Turkey (with a CAGR of +5.6%), while consumption for the other global leaders experienced more modest paces of growth.

Consumption By Type

The products with the highest volumes of consumption in 2024 were footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap (5.5B pairs), footwear with uppers of textile materials (4.2B pairs) and leather footwear (3.4B pairs), with a combined 93% share of global consumption.

From 2013 to 2024, the biggest increases were recorded for footwear with uppers of textile materials (with a CAGR of +1.5%), while consumption for the other products experienced a decline in the consumption figures.

In value terms, leather footwear ($102.5B) led the market, alone. The second position in the ranking was taken by footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap ($35.7B). It was followed by footwear with uppers of textile materials.

From 2013 to 2024, the average annual rate of growth in terms of the value of leather footwear market was relatively modest. With regard to the other consumed products, the following average annual rates of growth were recorded: footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap (+1.5% per year) and footwear with uppers of textile materials (+4.3% per year).

Production

World's Production of Footwear

In 2024, global production of footwear stood at 19B pairs, remaining constant against the year before. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 3.9%. Global production peaked at 20B pairs in 2014; however, from 2015 to 2024, production remained at a lower figure.

In value terms, footwear production totaled $192.6B in 2024 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by 29% against the previous year. As a result, production reached the peak level of $217.2B. From 2015 to 2024, global production growth remained at a somewhat lower figure.

Production By Country

China (11B pairs) constituted the country with the largest volume of footwear production, comprising approx. 56% of total volume. Moreover, footwear production in China exceeded the figures recorded by the second-largest producer, Vietnam (1.1B pairs), tenfold. The third position in this ranking was held by India (988M pairs), with a 5.1% share.

In China, footwear production decreased by an average annual rate of -1.4% over the period from 2013-2024. The remaining producing countries recorded the following average annual rates of production growth: Vietnam (+5.2% per year) and India (+5.5% per year).

Production By Type

The products with the highest volumes of production in 2024 were footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap (9.1B pairs), footwear with uppers of textile materials (5.5B pairs) and leather footwear (3.7B pairs), with a combined 95% share of global production.

From 2013 to 2024, the biggest increases were recorded for footwear with uppers of textile materials (with a CAGR of +2.3%), while production for the other products experienced a decline in the production figures.

In value terms, the largest types of footwear in terms of market size were leather footwear ($89.3B), footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap ($54.1B) and footwear with uppers of textile materials ($36.5B), with a combined 96% share of global production.

Footwear with uppers of textile materials, with a CAGR of +4.0%, saw the highest rates of growth with regard to market size among the main produced products over the period under review, while production for the other products experienced more modest paces of growth.

Imports

World's Imports of Footwear

In 2024, overseas purchases of footwear decreased by -9% to 7.8B pairs, falling for the second consecutive year after two years of growth. Over the period under review, imports recorded a slight decrease. The pace of growth was the most pronounced in 2021 when imports increased by 19% against the previous year. Over the period under review, global imports attained the maximum at 9.5B pairs in 2022; however, from 2023 to 2024, imports remained at a lower figure.

In value terms, footwear imports declined to $112B in 2024. The total import value increased at an average annual rate of +1.3% over the period from 2013 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2022 with an increase of 20%. As a result, imports attained the peak of $126.2B. From 2023 to 2024, the growth of global imports remained at a somewhat lower figure.

Imports By Country

In 2024, the United States (1.8B pairs) represented the major importer of footwear, generating 23% of total imports. Germany (573M pairs) held a 7.4% share (based on physical terms) of total imports, which put it in second place, followed by Japan (7.4%) and France (4.7%). The Netherlands (318M pairs), Italy (291M pairs), the UK (270M pairs), Poland (251M pairs), Spain (246M pairs) and China (185M pairs) held a little share of total imports.

Imports into the United States decreased at an average annual rate of -1.6% from 2013 to 2024. At the same time, China (+12.2%), Poland (+7.9%), Japan (+4.7%), the Netherlands (+4.5%), Germany (+1.1%) and Italy (+1.0%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in the world, with a CAGR of +12.2% from 2013-2024. By contrast, France (-1.3%), Spain (-1.9%) and the UK (-5.9%) illustrated a downward trend over the same period. Japan (+3.6 p.p.), Poland (+2.1 p.p.), the Netherlands (+1.9 p.p.), Germany (+1.8 p.p.) and China (+1.8 p.p.) significantly strengthened its position in terms of the global imports, while the UK saw its share reduced by -2.3% from 2013 to 2024, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest footwear importing markets worldwide were the United States ($21.1B), Germany ($11.1B) and France ($7.1B), together comprising 35% of global imports. The Netherlands, Italy, China, Poland, the UK, Japan and Spain lagged somewhat behind, together comprising a further 30%.

Poland, with a CAGR of +13.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

Footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap (3.4B pairs) and footwear with uppers of textile materials (2.6B pairs) represented roughly 77% of total imports in 2024. It was distantly followed by leather footwear (1.6B pairs), creating a 21% share of total imports. Waterproof footwear (129M pairs) held a relatively small share of total imports.

From 2013 to 2024, the biggest increases were recorded for footwear with uppers of textile materials (with a CAGR of +0.7%), while purchases for the other products experienced a decline in the imports figures.

In value terms, the largest types of imported footwear were leather footwear ($53.8B), footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap ($31B) and footwear with uppers of textile materials ($26.2B), together comprising 99% of global imports.

In terms of the main imported products, footwear with uppers of textile materials, with a CAGR of +4.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other products experienced more modest paces of growth.

Import Prices By Type

The average footwear import price stood at $14 per pair in 2024, with an increase of 2.1% against the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 22%. Global import price peaked in 2024 and is likely to continue growth in the immediate term.

Prices varied noticeably by the product type; the product with the highest price was leather footwear ($33 per pair), while the price for waterproof footwear ($8.4 per pair) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap (+3.8%), while the other products experienced more modest paces of growth.

Import Prices By Country

The average footwear import price stood at $14 per pair in 2024, with an increase of 2.1% against the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2014 an increase of 22% against the previous year. Over the period under review, average import prices hit record highs in 2024 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was China ($29 per pair), while Japan ($6.9 per pair) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Spain (+6.7%), while the other global leaders experienced more modest paces of growth.

Exports

World's Exports of Footwear

In 2024, approx. 13B pairs of footwear were exported worldwide; picking up by 3.6% against the previous year's figure. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 74%. Over the period under review, the global exports attained the peak figure at 13B pairs in 2022; however, from 2023 to 2024, the exports remained at a lower figure.

In value terms, footwear exports fell to $135.6B in 2024. The total export value increased at an average annual rate of +2.9% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 20% against the previous year. Over the period under review, the global exports attained the maximum at $140.1B in 2022; however, from 2023 to 2024, the exports remained at a lower figure.

Exports By Country

China dominates exports structure, reaching 8.8B pairs, which was approx. 68% of total exports in 2024. It was distantly followed by Vietnam (966M pairs), constituting a 7.4% share of total exports. The following exporters - Indonesia (322M pairs), Germany (317M pairs), the Netherlands (297M pairs) and Turkey (226M pairs) - each amounted to an 8.9% share of total exports.

From 2013 to 2024, average annual rates of growth with regard to footwear exports from China stood at -1.0%. At the same time, the Netherlands (+9.1%), Vietnam (+6.9%), Germany (+5.8%), Indonesia (+5.4%) and Turkey (+3.4%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +9.1% from 2013-2024. While the share of Vietnam (+3.8 p.p.) increased significantly in terms of the global exports from 2013-2024, the share of China (-8.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($43.4B) remains the largest footwear supplier worldwide, comprising 32% of global exports. The second position in the ranking was held by Vietnam ($18.3B), with a 14% share of global exports. It was followed by Germany, with a 7.7% share.

In China, footwear exports remained relatively stable over the period from 2013-2024. In the other countries, the average annual rates were as follows: Vietnam (+8.4% per year) and Germany (+9.3% per year).

Exports By Type

Footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap represented the key type of footwear in the world, with the volume of exports recording 7B pairs, which was approx. 54% of total exports in 2024. It was distantly followed by footwear with uppers of textile materials (3.9B pairs) and leather footwear (1.9B pairs), together comprising a 45% share of total exports.

From 2013 to 2024, the biggest increases were recorded for footwear with uppers of textile materials (with a CAGR of +2.1%), while shipments for the other products experienced a decline in the exports figures.

In value terms, the largest types of exported footwear were leather footwear ($59.6B), footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap ($44B) and footwear with uppers of textile materials ($30.7B), together accounting for 99% of global exports.

Footwear with uppers of textile materials, with a CAGR of +5.8%, recorded the highest growth rate of the value of exports, among the main exported products over the period under review, while shipments for the other products experienced more modest paces of growth.

Export Prices By Type

In 2024, the average footwear export price amounted to $10 per pair, dropping by -5% against the previous year. In general, the export price, however, recorded measured growth. The growth pace was the most rapid in 2018 an increase of 120%. As a result, the export price attained the peak level of $18 per pair. From 2019 to 2024, the average export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exported products. In 2024, the product with the highest price was leather footwear ($31 per pair), while the average price for exports of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap ($6.3 per pair) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap (+4.3%), while the other products experienced more modest paces of growth.

Export Prices By Country

The average footwear export price stood at $10 per pair in 2024, with a decrease of -5% against the previous year. In general, the export price, however, recorded a moderate increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by 120%. As a result, the export price attained the peak level of $18 per pair. From 2019 to 2024, the average export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Germany ($33 per pair), while Turkey ($4.1 per pair) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Germany (+3.3%), while the other global leaders experienced more modest paces of growth.