Guatemala: Athletic Footwear Market 2024

Athletic Footwear Market Size in Guatemala

The Guatemalan athletic footwear market soared to $X in 2022, picking up by 63% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw resilient growth. Athletic footwear consumption peaked in 2022 and is expected to retain growth in the immediate term.

Athletic Footwear Exports

Exports from Guatemala

Athletic footwear exports from Guatemala skyrocketed to X pairs in 2022, with an increase of 36% against the previous year's figure. Over the period under review, exports enjoyed a perceptible increase. The growth pace was the most rapid in 2021 when exports increased by 290%. The exports peaked at X pairs in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, athletic footwear exports skyrocketed to $X in 2022. Overall, exports recorded a prominent expansion. The growth pace was the most rapid in 2021 when exports increased by 372%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

El Salvador (X pairs), Honduras (X pairs) and Belize (X pairs) were the main destinations of athletic footwear exports from Guatemala, together comprising 87% of total exports. Costa Rica and Nicaragua lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the biggest increases were recorded for Costa Rica (with a CAGR of +13.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, El Salvador ($X), Honduras ($X) and Belize ($X) constituted the largest markets for athletic footwear exported from Guatemala worldwide, together accounting for 87% of total exports. Costa Rica and Nicaragua lagged somewhat behind, together comprising a further 12%.

Costa Rica, with a CAGR of +18.4%, saw the highest rates of growth with regard to the value of exports, among 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 athletic footwear export price amounted to $X per pair, dropping by -8.2% against the previous year. Over the period under review, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, athletic footwear export price increased by +82.3% against 2016 indices. The pace of growth appeared the most rapid in 2017 when the average export price increased by 34%. The export price peaked at $X per pair in 2021, and then shrank in the following year.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Costa Rica ($X per pair) and Belize ($X per pair), while the average price for exports to Nicaragua ($X per pair) and El Salvador ($X per pair) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Athletic Footwear Imports

Imports into Guatemala

In 2022, approx. X pairs of athletic footwear were imported into Guatemala; increasing by 78% against 2021. In general, imports posted a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, athletic footwear imports soared to $X in 2022. Over the period under review, imports recorded a prominent expansion. The growth pace was the most rapid in 2015 with an increase of 97% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

China (X pairs), Vietnam (X pairs) and Indonesia (X pairs) were the main suppliers of athletic footwear imports to Guatemala, with a combined 85% share of total imports. The United States, India, Cambodia, El Salvador and Panama lagged somewhat behind, together comprising a further 11%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Cambodia (with a CAGR of +868.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Vietnam ($X) and Indonesia ($X) constituted the largest athletic footwear suppliers to Guatemala, with a combined 85% share of total imports. The United States, India, Cambodia, El Salvador and Panama lagged somewhat behind, together accounting for a further 11%.

Cambodia, with a CAGR of +767.0%, saw the highest rates of growth with regard to the value of imports, in terms of 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 athletic footwear import price stood at $X per pair in 2022, reducing by -10.5% against the previous year. Over the last decade, it increased at an average annual rate of +2.9%. The pace of growth was the most pronounced in 2018 an increase of 15%. The import price peaked at $X per pair in 2021, and then reduced in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Vietnam ($X per pair) and India ($X per pair), while the price for Panama ($X per pair) and El Salvador ($X per pair) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform