Asia-Pacific: Leather Footwear Market 2024

Leather Footwear Market Size in Asia-Pacific

The Asia-Pacific leather footwear market reduced modestly to $X in 2021, declining by -1.7% against the previous year. In general, consumption saw a mild downturn. The most prominent rate of growth was recorded in 2016 when the market value increased by 7.9%. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Leather Footwear Production in Asia-Pacific

In value terms, leather footwear production rose modestly to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 4.6% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Leather Footwear Exports

Exports in Asia-Pacific

In 2021, leather footwear exports in Asia-Pacific skyrocketed to X tons, growing by 23% compared with 2020. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 49% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, leather footwear exports soared to $X in 2021. Overall, exports showed a relatively flat trend pattern. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

China represented the largest exporter of leather footwear in Asia-Pacific, with the volume of exports amounting to X tons, which was near 54% of total exports in 2021. It was distantly followed by Vietnam (X tons), constituting a 28% share of total exports. The following exporters - Indonesia (X tons), Bangladesh (X tons), Cambodia (X tons), Thailand (X tons) and India (X tons) - together made up 15% of total exports.

From 2012 to 2021, the biggest increases were recorded for Bangladesh (with a CAGR of +14.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Vietnam ($X) and India ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 81% share of total exports. These countries were followed by Cambodia, Bangladesh, Indonesia and Thailand, which together accounted for a further 13%.

Among 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-Pacific stood at $X per kg in 2021, approximately equating the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2016 an increase of 45% 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 remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per kg), while China ($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-Pacific

In 2021, leather footwear imports in Asia-Pacific expanded slightly to X tons, growing by 4.8% against the previous year's figure. In general, imports, however, saw a pronounced contraction. The pace of growth appeared the most rapid in 2019 with an increase of 6.2%. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, leather footwear imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China represented the major importer of leather footwear in Asia-Pacific, with the volume of imports accounting for X tons, which was near 34% of total imports in 2021. Japan (X tons) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by Hong Kong SAR (12%), South Korea (11%) and Australia (10%). The following importers - Taiwan (Chinese) (X tons) and Singapore (X tons) - together made up 6.7% of total imports.

China was also the fastest-growing in terms of the leather footwear imports, with a CAGR of +15.4% from 2012 to 2021. At the same time, Singapore (+2.9%) and South Korea (+1.6%) displayed positive paces of growth. By contrast, Taiwan (Chinese) (-1.9%), Japan (-3.0%), Australia (-7.7%) and Hong Kong SAR (-16.0%) illustrated a downward trend over the same period. While the share of China (+27 p.p.) and South Korea (+4.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Australia (-4.8 p.p.) and Hong Kong SAR (-29.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported leather footwear in Asia-Pacific, comprising 36% of total imports. The second position in the ranking was held by South Korea ($X), with a 14% share of total imports. It was followed by Japan, with a 13% share.

In China, leather footwear imports increased at an average annual rate of +13.8% over the period from 2012-2021. 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

In 2021, the import price in Asia-Pacific amounted to $X per kg, increasing by 13% against the previous year. Over the last nine years, it increased at an average annual rate of +3.4%. The growth pace was the most rapid in 2018 when the import price increased by 13%. Over the period under review, import prices attained the peak figure in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per kg), while Taiwan (Chinese) ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+8.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform