Mexico: Leather Footwear Market 2024

Leather Footwear Market Size in Mexico

In 2022, after five years of decline, there was significant growth in the Mexican leather footwear market, when its value increased by X% to $X. Overall, consumption, however, recorded a deep contraction. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Leather Footwear Production in Mexico

In value terms, leather footwear production fell to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a pronounced decline. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Leather Footwear Exports

Exports from Mexico

In 2022, shipments abroad of leather footwear increased by X% to X pairs, rising for the second year in a row after five years of decline. In general, exports enjoyed a resilient expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, leather footwear exports soared to $X in 2022. Overall, exports enjoyed prominent growth. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X pairs) was the main destination for leather footwear exports from Mexico, accounting for a X% share of total exports. It was followed by Guatemala (X pairs), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled X%.

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

From 2012 to 2022, the average annual growth rate of value to the United States amounted to X%.

Export Prices by Country

The average leather footwear export price stood at $X per pair in 2022, picking up by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per pair in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per pair), while the average price for exports to Guatemala amounted to $X per pair.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (X%).

Leather Footwear Imports

Imports into Mexico

In 2022, the amount of leather footwear imported into Mexico soared to X pairs, growing by X% against the year before. In general, total imports indicated a modest 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. Based on 2022 figures, imports increased by X% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, leather footwear imports soared to $X in 2022. Over the period under review, total imports indicated tangible growth 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 attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X pairs), Vietnam (X pairs) and Indonesia (X pairs) were the main suppliers of leather footwear imports to Mexico, together accounting for X% of total imports. India, Spain, Italy and Cambodia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

India, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers 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 leather footwear import price amounted to $X per pair, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2015 when the average import price increased by X%. The import price peaked at $X per pair in 2016; however, from 2017 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 ($X per pair), while the price for Indonesia ($X per pair) was amongst the lowest.

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

Source: IndexBox Platform

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