Republic of Korea: Athletic Footwear Market 2024

Athletic Footwear Market Size in Republic of Korea

In 2022, the South Korean athletic footwear market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, the total consumption indicated strong 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, consumption increased by X% against 2020 indices. Athletic footwear consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Athletic Footwear Exports

Exports from Republic of Korea

In 2022, athletic footwear exports from South Korea surged to X pairs, rising by X% against 2021. In general, exports saw strong growth. The growth pace was the most rapid in 2015 when exports increased by X%. The exports peaked at X pairs in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, athletic footwear exports surged to $X in 2022. Overall, exports saw strong growth. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X pairs), Hong Kong SAR (X pairs) and the United States (X pairs) were the main destinations of athletic footwear exports from South Korea, with a combined X% share of total exports. Finland, Japan, Thailand and Mongolia 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 Finland (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for athletic footwear exported from South Korea were China ($X), Hong Kong SAR ($X) and the United States ($X), together comprising X% of total exports. Finland, Japan, Thailand and Mongolia lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Finland, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average athletic footwear export price stood at $X per pair in 2022, approximately reflecting the previous year. In general, export price indicated a prominent 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, athletic footwear export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were the United States ($X per pair) and Thailand ($X per pair), while the average price for exports to Finland ($X per pair) and China ($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 Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Athletic Footwear Imports

Imports into Republic of Korea

After three years of decline, overseas purchases of athletic footwear increased by X% to X pairs in 2022. Over the period under review, total imports indicated notable growth 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. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of X pairs. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, athletic footwear imports reached $X in 2022. Overall, imports enjoyed a prominent expansion. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Vietnam (X pairs) constituted the largest athletic footwear supplier to South Korea, with a X% share of total imports. Moreover, athletic footwear imports from Vietnam exceeded the figures recorded by the second-largest supplier, Indonesia (X pairs), threefold.

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

In value terms, Vietnam ($X) constituted the largest supplier of athletic footwear to South Korea, comprising X% of total imports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total imports.

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

Import Prices by Country

In 2022, the average athletic footwear import price amounted to $X per pair, with a decrease of 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 2014 when the average import price increased by X% against the previous year. The import price peaked at $X per pair in 2021, and then fell in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per pair), while the price for China ($X per pair) was amongst the lowest.

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

Source: IndexBox Platform

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