ASEAN: Leather Footwear Market 2024

Leather Footwear Market Size in ASEAN

In 2022, the ASEAN leather footwear market decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption continues to indicate a pronounced slump. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Leather Footwear Production in ASEAN

In value terms, leather footwear production shrank modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Leather Footwear Exports

Exports in ASEAN

In 2022, after two years of decline, there was significant growth in overseas shipments of leather footwear, when their volume increased by X% to X pairs. Total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, leather footwear exports soared to $X in 2022. Total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

In 2022, Vietnam (X pairs) was the largest exporter of leather footwear, committing X% of total exports. Cambodia (X pairs) held the second position in the ranking, followed by Indonesia (X pairs) and Thailand (X pairs). All these countries together took approx. X% share of total exports. The following exporters - Myanmar (X pairs) and Singapore (X pairs) - each resulted at a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to leather footwear exports from Vietnam stood at X%. At the same time, Myanmar (X%), Cambodia (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Thailand (X%) and Singapore (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.) and Myanmar (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (X p.p.), Cambodia (X p.p.), Thailand (X p.p.) and Indonesia (X p.p.) displayed negative dynamics.

In value terms, Vietnam ($X) remains the largest leather footwear supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Indonesia ($X), with a X% share of total exports. It was followed by Cambodia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Vietnam amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (X% per year) and Cambodia (X% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per pair, declining by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2017 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per pair in 2021, and then contracted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per pair), while Myanmar ($X per pair) was amongst the lowest.

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

Leather Footwear Imports

Imports in ASEAN

In 2022, purchases abroad of leather footwear increased by X% to X pairs for the first time since 2018, thus ending a three-year declining trend. In general, imports, however, saw a mild shrinkage. Over the period under review, imports hit record highs at X pairs in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, leather footwear imports soared to $X in 2022. Total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Singapore represented the major importing country with an import of around X pairs, which finished at X% of total imports. It was distantly followed by the Philippines (X pairs), Malaysia (X pairs), Thailand (X pairs), Indonesia (X pairs) and Vietnam (X pairs), together comprising a X% share of total imports. Myanmar (X pairs) held a minor share of total imports.

Imports into Singapore decreased at an average annual rate of X% from 2012 to 2022. At the same time, Myanmar (X%), Vietnam (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. Malaysia experienced a relatively flat trend pattern. By contrast, Thailand (X%) and the Philippines (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia, Vietnam, Malaysia and Myanmar increased by X, X, X and X percentage points, respectively.

In value terms, Singapore ($X) constitutes the largest market for imported leather footwear in ASEAN, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

In Singapore, leather footwear imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per pair, growing by X% against the previous year. In general, the import price continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is likely to continue growth in the near future.

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 Vietnam ($X per pair), while Myanmar ($X per pair) was amongst the lowest.

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

Source: IndexBox Platform

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