Eastern Asia: Waterproof Footwear Market 2024

Waterproof Footwear Market Size in Eastern Asia

In 2022, the East Asian waterproof footwear market decreased by -32.6% to $X, falling for the third consecutive year after two years of growth. Overall, consumption recorded a perceptible slump. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Waterproof Footwear Production in Eastern Asia

In value terms, waterproof footwear production declined to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the production volume increased by 12% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Waterproof Footwear Exports

Exports in Eastern Asia

In 2022, overseas shipments of waterproof footwear increased by 64% to X pairs, rising for the second consecutive year after three years of decline. In general, exports recorded a moderate expansion. The pace of growth was the most pronounced in 2021 when exports increased by 67% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, waterproof footwear exports expanded markedly to $X in 2022. The total export value increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 39%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from China (X pairs), together reaching 99% of total export.

China was also the fastest-growing in terms of the waterproof footwear exports, with a CAGR of +3.1% from 2012 to 2022. From 2012 to 2022, the share of China increased by +2.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest waterproof footwear supplier in Eastern Asia.

From 2012 to 2022, the average annual growth rate of value in China stood at +4.3%.

Export Prices by Country

The export price in Eastern Asia stood at $X per pair in 2022, reducing by -34.6% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 65%. Over the period under review, the export prices reached the maximum at $X per pair in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +1.1% per year.

Waterproof Footwear Imports

Imports in Eastern Asia

In 2022, the amount of waterproof footwear imported in Eastern Asia dropped to X pairs, with a decrease of -12.8% against 2021. Overall, imports showed a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year. The volume of import peaked at X pairs in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, waterproof footwear imports declined slightly to $X in 2022. In general, imports saw a perceptible shrinkage. The growth pace was the most rapid in 2021 with an increase of 27% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Japan (X pairs) was the largest importer of waterproof footwear, constituting 73% of total imports. It was distantly followed by South Korea (X pairs), making up a 17% share of total imports. The following importers - Taiwan (Chinese) (X pairs) and Hong Kong SAR (X pairs) - each finished at an 8.6% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to waterproof footwear imports into Japan stood at -5.0%. At the same time, Taiwan (Chinese) (+4.8%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +4.8% from 2012-2022. By contrast, South Korea (-2.3%) and Hong Kong SAR (-16.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea, Japan and Taiwan (Chinese) increased by +4.9, +4.1 and +2.8 percentage points, respectively.

In value terms, Japan ($X) constitutes the largest market for imported waterproof footwear in Eastern Asia, comprising 74% of total imports. The second position in the ranking was held by South Korea ($X), with an 18% share of total imports. It was followed by Hong Kong SAR, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Japan totaled -3.7%. In the other countries, the average annual rates were as follows: South Korea (+0.2% per year) and Hong Kong SAR (-14.3% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per pair, rising by 9% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2014 when the import price increased by 14%. The level of import peaked in 2022 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 Hong Kong SAR ($X per pair), while Taiwan (Chinese) ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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