Eastern Asia: Leather Footwear Market 2024

Leather Footwear Market Size in Eastern Asia

The East Asian leather footwear market fell slightly to $X in 2021, which is down by -2.1% against the previous year. Overall, consumption recorded a slight decrease. 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 Eastern Asia

In value terms, leather footwear production stood at $X in 2021 estimated in export price. In general, production, however, continues to indicate a noticeable decrease. 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 Eastern Asia

In 2021, exports of leather footwear in Eastern Asia surged to X tons, with an increase of 24% against the previous year's figure. Overall, exports, however, continue to indicate a pronounced descent. The pace of growth was the most pronounced in 2017 when exports increased by 117% against the previous year. The volume of export peaked 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, however, continue to indicate a perceptible slump. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China prevails in exports structure, resulting at X tons, which was approx. 97% of total exports in 2021. Hong Kong SAR (X tons) took a relatively small share of total exports.

China was also the fastest-growing in terms of the leather footwear exports, with a CAGR of -2.6% from 2012 to 2021. Hong Kong SAR (-19.5%) illustrated a downward trend over the same period. China (+9.1 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by -9.1% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest leather footwear supplier in Eastern Asia, comprising 91% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 7.4% share of total exports.

In China, leather footwear exports remained relatively stable over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per kg, almost unchanged from the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 109% against the previous year. As a result, the export price reached the peak level of $X per kg. From 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per kg), while China stood at $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+4.7%).

Leather Footwear Imports

Imports in Eastern Asia

In 2021, approx. X tons of leather footwear were imported in Eastern Asia; with an increase of 2% compared with 2020 figures. In general, imports, however, recorded a noticeable descent. The most prominent rate of growth was recorded in 2019 when imports increased by 9.9%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, leather footwear imports soared to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

China represented the main importer of leather footwear in Eastern Asia, with the volume of imports reaching X tons, which was approx. 44% of total imports in 2021. It was distantly followed by Japan (X tons), Hong Kong SAR (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons), together comprising a 55% share 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, South Korea (+1.6%) displayed positive paces of growth. By contrast, Taiwan (Chinese) (-1.9%), Japan (-3.0%) and Hong Kong SAR (-16.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and South Korea increased by +35 and +5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported leather footwear in Eastern Asia, comprising 44% of total imports. The second position in the ranking was held by South Korea ($X), with a 17% share of total imports. It was followed by Japan, with a 16% share.

From 2012 to 2021, the average annual growth rate of value in China stood at +13.8%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+6.3% per year) and Japan (-3.9% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per kg in 2021, picking up by 15% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.6%. 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 ($X per kg), while Taiwan (Chinese) ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+4.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform