Republic of Korea: Leather Footwear Market 2024

Leather Footwear Market Size in Republic of Korea

The South Korean leather footwear market surged to $X in 2022, rising by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a buoyant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Leather Footwear Exports

Exports from Republic of Korea

After two years of decline, overseas shipments of leather footwear increased by X% to X pairs in 2022. In general, exports, however, saw a perceptible reduction. The most prominent rate of growth was recorded in 2016 when exports increased by X%. As a result, the exports reached the peak of X pairs. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, leather footwear exports expanded rapidly to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X pairs), the United States (X pairs) and Hong Kong SAR (X pairs) were the main destinations of leather footwear exports from South Korea, together accounting for X% of total exports. China, Italy, Germany, Sweden, Canada, the Netherlands, Switzerland, the UK and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for leather footwear exported from South Korea were Japan ($X), Hong Kong SAR ($X) and the United States ($X), with a combined X% share of total exports. China, Italy, Germany, Sweden, Canada, the Netherlands, Switzerland, the UK and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

Canada, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average leather footwear export price stood at $X per pair in 2022, surging by X% against the previous year. Over the period under review, export price indicated a tangible increase from 2012 to 2022: its price 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, leather footwear export price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the near future.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Canada ($X per pair) and Italy ($X per pair), while the average price for exports to Germany ($X per pair) and Japan ($X per pair) were amongst the lowest.

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

Leather Footwear Imports

Imports into Republic of Korea

In 2022, approx. X pairs of leather footwear were imported into South Korea; growing by X% against 2021 figures. Over the period under review, total imports indicated a buoyant expansion 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 reached the peak and are likely to continue growth in the immediate term.

In value terms, leather footwear imports soared to $X in 2022. In general, total imports indicated buoyant 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 2012 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Vietnam (X pairs), China (X pairs) and Italy (X pairs) were the main suppliers of leather footwear imports to South Korea, with a combined X% share of total imports. Indonesia, India and the United States lagged somewhat behind, together comprising a further X%.

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

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

India, with a CAGR of X%, saw 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

In 2022, the average leather footwear import price amounted to $X per pair, falling by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. The import price peaked at $X per pair in 2021, and then declined in the following year.

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