Leather Footwear Market

The article discusses the projected growth of the global leather footwear market from 2022 to 2030, with a forecasted increase in market volume to 3.5B pairs and market value to $104.1B by the end of 2030. Consumption trends, production statistics, import and export values, and per capita consumption rates are analyzed in detail, highlighting key countries such as the United States, China, India, and Germany. The article provides a comprehensive overview of the global leather footwear market and its anticipated growth in the coming years.

Market Forecast

Driven by rising demand for leather footwear worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.5% for the period from 2022 to 2030, which is projected to bring the market volume to 3.5B pairs by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market value to $104.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Leather Footwear

In 2022, global leather footwear consumption rose sharply to 3.4B pairs, picking up by 7.2% compared with 2021 figures. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Global consumption peaked at 3.7B pairs in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

The global leather footwear market revenue rose sharply to $82.8B in 2022, picking up by 6.1% 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). Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the global market reached the maximum level at $88B in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (655M pairs), China (528M pairs) and India (152M pairs), with a combined 40% share of global consumption.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +12.5%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($15.2B), China ($9.6B) and Indonesia ($3.6B) appeared to be the countries with the highest levels of market value in 2022, with a combined 34% share of the global market. Germany, Bangladesh, India, Russia, Nigeria, the UK, Pakistan, Brazil, Ethiopia and Democratic Republic of the Congo lagged somewhat behind, together accounting for a further 24%.

India, with a CAGR of +11.8%, recorded the highest rates of growth with regard to market size in terms of the main consuming countries 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 leather footwear per capita consumption in 2022 were the United States (1,953 pairs per 1000 persons), the UK (1,128 pairs per 1000 persons) and Germany (1,072 pairs per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by India (with a CAGR of +11.3%), while consumption for the other global leaders experienced mixed trends in the per capita consumption figures.

Production

World Production of Leather Footwear

In 2022, the amount of leather footwear produced worldwide expanded sharply to 3.2B pairs, increasing by 5.4% on 2021. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by 12% against the previous year. Over the period under review, global production reached the peak volume at 3.5B pairs in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

In value terms, leather footwear production reduced to $72.9B in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 9.3%. As a result, production attained the peak level of $90.5B. From 2015 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

China (1.1B pairs) constituted the country with the largest volume of leather footwear production, comprising approx. 35% of total volume. Moreover, leather footwear production in China exceeded the figures recorded by the second-largest producer, India (240M pairs), fivefold. The third position in this ranking was held by Vietnam (208M pairs), with a 6.6% share.

From 2012 to 2022, the average annual growth rate of volume in China amounted to -2.7%. In the other countries, the average annual rates were as follows: India (+9.4% per year) and Vietnam (+4.5% per year).

Imports

World Imports of Leather Footwear

In 2022, approx. 1.9B pairs of leather footwear were imported worldwide; rising by 16% on 2021 figures. Overall, imports, however, saw a relatively flat trend pattern. Over the period under review, global imports reached the maximum at 2.1B pairs in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, leather footwear imports soared to $57.6B in 2022. The total import value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, the United States (567M pairs) represented the key importer of leather footwear, comprising 29% of total imports. Germany (155M pairs) took the second position in the ranking, followed by Belgium (128M pairs). All these countries together held approx. 15% share of total imports. The following importers - France (82M pairs), the Netherlands (82M pairs), Italy (79M pairs), the UK (75M pairs), China (71M pairs), Russia (56M pairs), South Korea (47M pairs), Poland (45M pairs), Spain (43M pairs) and Japan (40M pairs) - together made up 32% of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of leather footwear. At the same time, China (+14.6%), Poland (+9.7%), South Korea (+7.6%), Belgium (+5.4%), the Netherlands (+2.8%) and Spain (+1.5%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in the world, with a CAGR of +14.6% from 2012-2022. Germany experienced a relatively flat trend pattern. By contrast, Japan (-1.6%), France (-1.8%), Italy (-2.7%), Russia (-3.8%) and the UK (-4.5%) illustrated a downward trend over the same period. While the share of Belgium (+2.9 p.p.), China (+2.8 p.p.) and the United States (+1.6 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of the UK (-1.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($13.7B) constitutes the largest market for imported leather footwear worldwide, comprising 24% of global imports. The second position in the ranking was taken by Germany ($5.2B), with a 9.1% share of global imports. It was followed by France, with a 6.5% share.

In the United States, leather footwear imports increased at an average annual rate of +1.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+1.9% per year) and France (+1.0% per year).

Imports By Type

Footwear, sole rubber, plastics uppers of leather, nes was the key type of leather footwear in the world, with the volume of imports recording 1.3B pairs, which was near 67% of total imports in 2022. It was distantly followed by boots, sole rubber or plastic upper leather, nes (521M pairs), constituting a 27% share of total imports. Footwear, outer soles and uppers of leather, nes (63M pairs) and footwear, soles, uppers of leather, over ankle, nes (31M pairs) took a relatively small share of total imports.

Footwear, sole rubber, plastics uppers of leather, nes experienced a relatively flat trend pattern with regard to volume of imports. At the same time, boots, sole rubber or plastic upper leather, nes (+1.7%) displayed positive paces of growth. Moreover, boots, sole rubber or plastic upper leather, nes emerged as the fastest-growing type imported in the world, with a CAGR of +1.7% from 2012-2022. By contrast, footwear, soles, uppers of leather, over ankle, nes (-1.3%) and footwear, outer soles and uppers of leather, nes (-5.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of boots, sole rubber or plastic upper leather, nes increased by +5.4 percentage points. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, footwear, sole rubber, plastics uppers of leather, nes ($33.8B), boots, sole rubber or plastic upper leather, nes ($17.2B) and footwear, outer soles and uppers of leather, nes ($4.3B) were the products with the highest levels of imports in 2022, together comprising 96% of global imports.

Among the main imported products, boots, sole rubber or plastic upper leather, nes, with a CAGR of +2.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other products experienced mixed trends in the imports figures.

Import Prices By Type

In 2022, the average leather footwear import price amounted to $30 per pair, approximately equating the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2014 an increase of 16%. As a result, import price attained the peak level of $30 per pair. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the product type; the product with the highest price was footwear, outer soles and uppers of leather, nes ($68 per pair), while the price for footwear, nes, uppers leather ($20 per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by footwear; n.e.s. in heading no. 6403, (not covering the ankle), outer soles and uppers of leather (+3.8%), while the other products experienced more modest paces of growth.

Import Prices By Country

The average leather footwear import price stood at $30 per pair in 2022, approximately reflecting the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2014 an increase of 16%. As a result, import price reached the peak level of $30 per pair. From 2015 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was France ($46 per pair), while Belgium ($20 per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+2.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Leather Footwear

In 2022, the amount of leather footwear exported worldwide stood at 1.7B pairs, increasing by 13% on the previous year's figure. Overall, exports, however, showed a relatively flat trend pattern. The global exports peaked at 2B pairs in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, leather footwear exports rose significantly to $54B in 2022. The total export value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports By Country

In 2022, China (637M pairs) was the largest exporter of leather footwear, committing 37% of total exports. Vietnam (180M pairs) held the second position in the ranking, followed by India (92M pairs), Italy (84M pairs), Germany (78M pairs) and Belgium (78M pairs). All these countries together took approx. 30% share of total exports. The Netherlands (50M pairs), Portugal (49M pairs), Turkey (44M pairs), Bangladesh (36M pairs), Spain (34M pairs), Cambodia (31M pairs) and France (28M pairs) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to leather footwear exports from China stood at -1.3%. At the same time, Bangladesh (+13.9%), Vietnam (+11.4%), Turkey (+5.5%), France (+2.9%), Cambodia (+2.9%), Belgium (+2.7%), India (+2.6%), Germany (+2.5%) and the Netherlands (+1.4%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in the world, with a CAGR of +13.9% from 2012-2022. Portugal experienced a relatively flat trend pattern. By contrast, Spain (-2.0%) and Italy (-3.1%) illustrated a downward trend over the same period. Vietnam (+7 p.p.) and Bangladesh (+1.5 p.p.) significantly strengthened its position in terms of the global exports, while Italy and China saw its share reduced by -1.6% and -4.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest leather footwear supplying countries worldwide were China ($10.2B), Italy ($7.8B) and Vietnam ($7.2B), together accounting for 47% of global exports.

Among the main exporting countries, Vietnam, with a CAGR of +13.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Footwear, sole rubber, plastics uppers of leather, nes was the major exported product with an export of around 1.2B pairs, which finished at 68% of total exports. It was distantly followed by boots, sole rubber or plastic upper leather, nes (415M pairs), constituting a 24% share of total exports. Footwear, outer soles and uppers of leather, nes (63M pairs), footwear, nes, uppers leather (44M pairs) and footwear, soles, uppers of leather, over ankle, nes (36M pairs) followed a long way behind the leaders.

Footwear, sole rubber, plastics uppers of leather, nes experienced a relatively flat trend pattern with regard to volume of exports. At the same time, boots, sole rubber or plastic upper leather, nes (+3.5%) and footwear, nes, uppers leather (+1.9%) displayed positive paces of growth. Moreover, boots, sole rubber or plastic upper leather, nes emerged as the fastest-growing type exported in the world, with a CAGR of +3.5% from 2012-2022. By contrast, footwear, outer soles and uppers of leather, nes (-4.6%) and footwear, soles, uppers of leather, over ankle, nes (-4.6%) illustrated a downward trend over the same period. Boots, sole rubber or plastic upper leather, nes (+7.5 p.p.) significantly strengthened its position in terms of the global exports, while footwear, outer soles and uppers of leather, nes and footwear, sole rubber, plastics uppers of leather, nes saw its share reduced by -2% and -4.8% from 2012 to 2022, respectively. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, footwear, sole rubber, plastics uppers of leather, nes ($31.8B) remains the largest type of leather footwear supplied worldwide, comprising 59% of global exports. The second position in the ranking was held by boots, sole rubber or plastic upper leather, nes ($15.2B), with a 28% share of global exports. It was followed by footwear, outer soles and uppers of leather, nes, with an 8.1% share.

For footwear, sole rubber, plastics uppers of leather, nes, exports increased at an average annual rate of +1.8% over the period from 2012-2022. With regard to the other exported products, the following average annual rates of growth were recorded: boots, sole rubber or plastic upper leather, nes (+4.3% per year) and footwear, outer soles and uppers of leather, nes (-2.1% per year).

Export Prices By Type

The average leather footwear export price stood at $31 per pair in 2022, approximately mirroring the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The pace of growth appeared the most rapid in 2018 an increase of 7.6%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was footwear, outer soles and uppers of leather, nes ($70 per pair), while the average price for exports of footwear, nes, uppers leather ($17 per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by footwear; n.e.s. in heading no. 6403, (not covering the ankle), outer soles of rubber, plastics or composition leather, uppers of leather (+2.8%), while the other products experienced more modest paces of growth.

Export Prices By Country

The average leather footwear export price stood at $31 per pair in 2022, remaining constant against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2018 when the average export price increased by 7.6% against the previous year. The global export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($93 per pair), while Turkey ($13 per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+3.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform