Asia: Leather Footwear Market 2024

Leather Footwear Market Size in Asia

In 2021, the Asian leather footwear market decreased by less than 0.1% to $X, falling for the second consecutive year after two years of growth. Overall, consumption recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the market value increased by 9%. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Leather Footwear Production in Asia

In value terms, leather footwear production expanded notably to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 13%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Leather Footwear Exports

Exports in Asia

Leather footwear exports soared to X tons in 2021, rising by 24% against the previous year's figure. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 48% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, leather footwear exports surged to $X in 2021. In general, exports showed a relatively flat trend pattern. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China was the largest exporting country with an export of about X tons, which resulted at 52% of total exports. It was distantly followed by Vietnam (X tons), achieving a 27% share of total exports. Indonesia (X tons), Bangladesh (X tons), Turkey (X tons), Cambodia (X tons), Thailand (X tons) and India (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Bangladesh (with a CAGR of +14.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest leather footwear supplying countries in Asia were China ($X), Vietnam ($X) and India ($X), together comprising 79% of total exports. Cambodia, Bangladesh, Indonesia, Turkey and Thailand lagged somewhat behind, together comprising a further 15%.

In terms of the main exporting countries, Bangladesh, with a CAGR of +19.7%, saw 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 export price in Asia stood at $X per kg in 2021, remaining stable against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2016 when the export price increased by 44% against the previous year. As a result, the export price attained the peak level of $X per kg. From 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was India ($X per kg), while Turkey ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+4.5%), while the other leaders experienced more modest paces of growth.

Leather Footwear Imports

Imports in Asia

In 2021, approx. X tons of leather footwear were imported in Asia; rising by 11% against the previous year. Over the period under review, imports, however, showed a perceptible curtailment. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, leather footwear imports surged to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons), distantly followed by Japan (X tons), Hong Kong SAR (X tons), South Korea (X tons), the United Arab Emirates (X tons) and Israel (X tons) were the largest importers of leather footwear, together comprising 69% of total imports. Kazakhstan (X tons), Taiwan (Chinese) (X tons), Iraq (X tons), Singapore (X tons), Thailand (X tons), Yemen (X tons) and Turkey (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to leather footwear imports into China stood at +15.4%. At the same time, Yemen (+25.4%), Iraq (+22.9%), Kazakhstan (+6.6%), the United Arab Emirates (+3.3%), Singapore (+2.9%), Thailand (+2.2%), South Korea (+1.6%) and Israel (+1.4%) displayed positive paces of growth. Moreover, Yemen emerged as the fastest-growing importer imported in Asia, with a CAGR of +25.4% from 2012-2021. By contrast, Taiwan (Chinese) (-1.9%), Japan (-3.0%), Turkey (-7.9%) and Hong Kong SAR (-16.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China, South Korea, the United Arab Emirates, Iraq, Kazakhstan and Yemen increased by +21, +2.7, +2.6, +2.4, +2.4 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported leather footwear in Asia, comprising 30% of total imports. The second position in the ranking was held by South Korea ($X), with a 12% share of total imports. It was followed by Japan, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +13.8%. In the other countries, the average annual rates were as follows: South Korea (+6.3% per year) and Japan (-3.9% per year).

Import Prices by Country

The import price in Asia stood at $X per kg in 2021, rising by 12% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per kg), while Iraq ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+5.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform