Bangladesh: Footwear Treatments Market 2024

Footwear Treatments Market Size in Bangladesh

In 2022, the Bangladeshi footwear treatments market was finally on the rise to reach $X after two years of decline. Overall, consumption enjoyed a buoyant increase. Footwear treatments consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Footwear Treatments Exports

Exports from Bangladesh

In 2022, overseas shipments of polishes and creams for footwear or leather increased by 527% to X kg for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports recorded a significant expansion. Over the period under review, the exports reached the maximum at X kg in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, footwear treatments exports surged to $X in 2022. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 358% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Qatar (X kg) was the main destination for footwear treatments exports from Bangladesh, accounting for a 69% share of total exports. Moreover, footwear treatments exports to Qatar exceeded the volume sent to the second major destination, Guatemala (X kg), fivefold. The third position in this ranking was taken by Germany (X kg), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Qatar was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (0.0% per year) and Germany (+34.2% per year).

In value terms, Qatar ($X), Germany ($X) and Guatemala ($X) constituted the largest markets for footwear treatments exported from Bangladesh worldwide, with a combined 95% share of total exports.

Germany, with a CAGR of +62.3%, saw the highest growth rate of 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

In 2022, the average footwear treatments export price amounted to $X per ton, waning by -54.3% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by 142%. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+20.9%).

Footwear Treatments Imports

Imports into Bangladesh

In 2022, supplies from abroad of polishes and creams for footwear or leather was finally on the rise to reach X tons after two years of decline. Overall, imports showed a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of 109%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, footwear treatments imports surged to $X in 2022. Over the period under review, imports showed noticeable growth. The pace of growth was the most pronounced in 2014 with an increase of 144%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Italy (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of footwear treatments imports to Bangladesh, together comprising 71% of total imports. India, Turkey, Hong Kong SAR, Germany, South Korea and Spain lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +22.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest footwear treatments suppliers to Bangladesh were Italy ($X), Taiwan (Chinese) ($X) and China ($X), with a combined 71% share of total imports. Turkey, India, Hong Kong SAR, Germany, Spain and South Korea lagged somewhat behind, together comprising a further 24%.

Among the main suppliers, Turkey, with a CAGR of +30.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average footwear treatments import price stood at $X per ton in 2022, which is down by -21.7% against the previous year. Overall, the import price saw a perceptible setback. The most prominent rate of growth was recorded in 2021 when the average import price increased by 38%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+7.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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