China: Footwear Market 2024

Footwear Market Size in China

The Chinese footwear market shrank slightly to $X in 2022, which is down by X% against the previous year. Overall, consumption, however, continues to indicate a slight setback. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Footwear Production in China

In value terms, footwear production reached $X in 2022 estimated in export price. In general, production, however, showed a mild decline. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. Footwear production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Footwear Exports

Exports from China

In 2022, the amount of footwear exported from China expanded sharply to X pairs, picking up by X% against 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X pairs in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, footwear exports surged to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X pairs) was the main destination for footwear exports from China, accounting for a X% share of total exports. Moreover, footwear exports to the United States exceeded the volume sent to the second major destination, the Philippines (X pairs), fourfold. The third position in this ranking was taken by Japan (X pairs), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Japan (X% per year).

In value terms, the United States ($X) remains the key foreign market for footwear exports from China, comprising X% of total exports. The second position in the ranking was taken by the Philippines ($X), with a X% share of total exports. It was followed by Russia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Russia (X% per year).

Export Prices by Country

In 2022, the average footwear export price amounted to $X per pair, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.

Footwear Imports

Imports into China

In 2022, supplies from abroad of footwear decreased by X% to X pairs, falling for the third consecutive year after eight years of growth. Overall, imports, however, continue to indicate prominent growth. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X pairs in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, footwear imports dropped to $X in 2022. In general, imports, however, showed a strong increase. The growth pace was the most rapid in 2018 with an increase of X%. Imports peaked at $X in 2021, and then fell modestly in the following year.

Imports by Country

In 2022, Vietnam (X pairs) constituted the largest supplier of footwear to China, with a X% share of total imports. Moreover, footwear imports from Vietnam exceeded the figures recorded by the second-largest supplier, Italy (X pairs), twofold. The third position in this ranking was held by Indonesia (X pairs), with a X% share.

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: Italy (X% per year) and Indonesia (X% per year).

In value terms, Vietnam ($X), Italy ($X) and Indonesia ($X) were the largest footwear suppliers to China, together accounting for X% of total imports. India, Cambodia and Thailand lagged somewhat behind, together accounting for a further X%.

Cambodia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average footwear import price stood at $X per pair in 2022, picking up by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per pair), while the price for Thailand ($X per pair) was amongst the lowest.

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

Source: IndexBox Platform

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