Bangladesh: Leather Footwear Market 2024

Leather Footwear Market Size in Bangladesh

In 2021, the Bangladeshi leather footwear market decreased by -4.7% to $X, falling for the second consecutive year after five years of growth. In general, consumption showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the market value increased by 6.4%. Leather footwear consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Leather Footwear Production in Bangladesh

In value terms, leather footwear production expanded to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 8.4% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Leather Footwear Exports

Exports from Bangladesh

In 2021, exports of leather footwear from Bangladesh soared to X tons, picking up by 53% against 2020 figures. Overall, exports posted a buoyant increase. The pace of growth was the most pronounced in 2014 with an increase of 56%. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in years to come.

In value terms, leather footwear exports surged to $X in 2021. Over the period under review, exports enjoyed strong growth. The growth pace was the most rapid in 2014 when exports increased by 79%. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

The United States (X tons), Poland (X tons) and Germany (X tons) were the main destinations of leather footwear exports from Bangladesh, with a combined 41% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +67.8%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for leather footwear exports from Bangladesh, comprising 22% of total exports. The second position in the ranking was held by Germany ($X), with a 10% share of total exports. It was followed by Poland, with a 6.7% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +36.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+15.0% per year) and Poland (+69.5% per year).

Export Prices by Country

The average leather footwear export price stood at $X per kg in 2021, growing by 2.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.5%. The pace of growth was the most pronounced in 2013 an increase of 20% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Switzerland ($X per kg), while the average price for exports to Poland ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+11.8%), while the prices for the other major destinations experienced more modest paces of growth.

Leather Footwear Imports

Imports into Bangladesh

In 2021, overseas purchases of leather footwear increased by 15% to X tons, rising for the second consecutive year after two years of decline. Overall, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 125%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, leather footwear imports amounted to $X in 2021. Over the period under review, imports posted resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 88% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest leather footwear supplier to Bangladesh, accounting for a 52% share of total imports. Moreover, leather footwear imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), twofold. Hong Kong SAR (X tons) ranked third in terms of total imports with a 9.8% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +31.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+43.5% per year) and Hong Kong SAR (+85.5% per year).

In value terms, China ($X) constituted the largest supplier of leather footwear to Bangladesh, comprising 65% of total imports. The second position in the ranking was taken by Singapore ($X), with a 4.9% share of total imports. It was followed by Hong Kong SAR, with a 4% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +24.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+10.2% per year) and Hong Kong SAR (+46.3% per year).

Import Prices by Country

The average leather footwear import price stood at $X per kg in 2021, dropping by -11.9% against the previous year. Overall, the import price saw a abrupt setback. The growth pace was the most rapid in 2018 when the average import price increased by 35% against the previous year. The import price peaked at $X per kg in 2013; however, from 2014 to 2021, 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 Thailand ($X per kg), while the price for Singapore ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+34.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform