Asia-Pacific: Footwear Market 2024

Footwear Market Size in Asia-Pacific

In 2022, the Asia-Pacific footwear market decreased by X% to $X, falling for the second consecutive year after two years of growth. In general, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Footwear Production in Asia-Pacific

In value terms, footwear production expanded to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Footwear Exports

Exports in Asia-Pacific

In 2022, the amount of footwear exported in Asia-Pacific soared to X pairs, with an increase of X% against 2021 figures. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the exports hit record highs at X pairs in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, footwear exports soared to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

China prevails in exports structure, finishing at X pairs, which was approx. X% of total exports in 2022. It was distantly followed by Vietnam (X pairs), mixing up a X% share of total exports. India (X pairs) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of exports of footwear. At the same time, Vietnam (X%) and India (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. Vietnam (X p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest footwear supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and India (X% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per pair, surging 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 appeared the most rapid in 2013 when the export price increased by X%. Over the period under review, the export prices attained the peak figure in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per pair), while China ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced mixed trends in the export price figures.

Footwear Imports

Imports in Asia-Pacific

In 2022, overseas purchases of footwear increased by X% to X pairs, rising for the second year in a row after two years of decline. Overall, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports reached the peak figure at X pairs in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, footwear imports expanded sharply to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

In 2022, Japan (X pairs), China (X pairs), Thailand (X pairs), India (X pairs), South Korea (X pairs), Australia (X pairs) and Hong Kong SAR (X pairs) represented the largest importer of footwear in Asia-Pacific, mixing up X% of total import. It was distantly followed by Malaysia (X pairs), mixing up a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest footwear importing markets in Asia-Pacific were China ($X), Japan ($X) and South Korea ($X), together comprising X% of total imports.

China, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per pair, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The level of import peaked at $X per pair in 2021, and then fell in the following year.

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 China ($X per pair), while Thailand ($X per pair) was amongst the lowest.

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

Source: IndexBox Platform

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