China: Footwear Market 2024

Footwear Market Size in China

The Chinese footwear market shrank notably to $X in 2022, with a decrease of X% against the previous year. Overall, consumption showed a noticeable setback. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Footwear Production in China

In value terms, footwear production expanded modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a mild curtailment. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

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Footwear Exports

Exports from China

In 2022, footwear exports from China skyrocketed to X pairs, surging by X% compared with the year before. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The exports peaked at X pairs in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, footwear exports surged 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 most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

The United States (X pairs), the Philippines (X pairs) and Japan (X pairs) were the main destinations of footwear exports from China, with a combined X% share of total exports. Germany, South Africa, Vietnam, India, Indonesia, the UK, Malaysia, Russia, Panama and Spain lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for footwear exports from China, comprising X% of total exports. The second position in the ranking was taken by the Philippines ($X), with a X% share of total exports. It was followed by Russia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Russia (X% per year).

Export Prices by Country

In 2022, the average footwear export price amounted to $X per pair, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the average export price increased by X%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per pair), while the average price for exports to Panama ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Footwear Imports

Imports into China

In 2022, supplies from abroad of footwear decreased by X% to X pairs, falling for the third consecutive year after eight years of growth. Overall, imports, however, posted resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Imports peaked at X pairs in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, footwear imports reduced slightly to $X in 2022. Over the period under review, imports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked at $X in 2021, and then contracted modestly in the following year.

Imports by Country

In 2022, Vietnam (X pairs) constituted the largest footwear supplier to China, accounting for a X% share of total imports. Moreover, footwear imports from Vietnam exceeded the figures recorded by the second-largest supplier, Italy (X pairs), twofold. The third position in this ranking was held by Indonesia (X pairs), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Vietnam totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Indonesia (X% per year).

In value terms, Vietnam ($X), Italy ($X) and Indonesia ($X) were the largest footwear suppliers to China, with a combined X% share of total imports. India, Cambodia, Thailand and South Korea lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Cambodia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average footwear import price amounted to $X per pair, growing by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per pair in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per pair), while the price for South Korea ($X per pair) was amongst the lowest.

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

Source: IndexBox Platform

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