China: Footwear Market 2023

Footwear Market Size in China

The Chinese footwear market dropped slightly to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption, however, recorded a slight curtailment. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Footwear Production in China

In value terms, footwear production reached $X in 2022 estimated in export price. In general, production, however, showed a mild shrinkage. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Footwear Exports

Exports from China

In 2022, approx. X pairs of footwear were exported from China; with an increase of X% against the year before. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The exports peaked at X pairs in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, footwear exports surged to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

The United States (X pairs) was the main destination for footwear exports from China, with a X% share of total exports. Moreover, footwear exports to the United States exceeded the volume sent to the second major destination, the Philippines (X pairs), fourfold. Japan (X pairs) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Japan (X% per year).

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

From 2012 to 2022, the average annual rate of growth in terms 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, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X%. The export price peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per pair), while the average price for exports to the Philippines ($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 the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.

Footwear Imports

Imports into China

In 2022, purchases abroad of footwear decreased by X% to X pairs, falling for the third consecutive year after eight years of growth. Over the period under review, imports, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, imports hit record highs at X pairs in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, footwear imports fell to $X in 2022. In general, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then reduced modestly in the following year.

Imports by Country

In 2022, Vietnam (X pairs) constituted the largest supplier of footwear 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. Indonesia (X pairs) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Vietnam stood at 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, the largest footwear suppliers to China were Vietnam ($X), Italy ($X) and Indonesia ($X), with a combined X% share of total imports. India, Cambodia and Thailand lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

The average footwear import price stood at $X per pair in 2022, rising by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average import price increased by X%. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Italy ($X per pair) and India ($X per pair), while the price for Thailand ($X per pair) and Cambodia ($X per pair) were 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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