Kuwait: Leather Footwear Market 2024

Leather Footwear Market Size in Kuwait

The Kuwaiti leather footwear market skyrocketed to $X in 2021, increasing by 35% 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). Over the period under review, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Leather footwear consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Leather Footwear Exports

Exports from Kuwait

In 2021, leather footwear exports from Kuwait expanded significantly to X tons, increasing by 12% compared with the previous year's figure. In general, exports, however, recorded a pronounced decrease. The pace of growth was the most pronounced in 2014 when exports increased by 87%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, leather footwear exports skyrocketed to $X in 2021. Over the period under review, exports recorded strong growth. The most prominent rate of growth was recorded in 2014 with an increase of 91% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United Arab Emirates (X tons), Free Zones (X tons) and Iraq (X tons) were the main destinations of leather footwear exports from Kuwait, with a combined 64% share of total exports. Italy, Saudi Arabia, Bahrain, the UK, Qatar and Jordan lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +36.0%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Italy ($X) and Saudi Arabia ($X) appeared to be the largest markets for leather footwear exported from Kuwait worldwide, together accounting for 73% of total exports. Iraq, Free Zones, Bahrain, the UK, Qatar and Jordan lagged somewhat behind, together comprising a further 12%.

The UK, with a CAGR of +31.7%, recorded the highest rates of growth with regard to 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

The average leather footwear export price stood at $X per kg in 2021, with an increase of 30% against the previous year. Over the period under review, the export price saw significant growth. The pace of growth appeared the most rapid in 2018 when the average export price increased by 90% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per kg), while the average price for exports to Free Zones ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+38.2%), while the prices for the other major destinations experienced more modest paces of growth.

Leather Footwear Imports

Imports into Kuwait

In 2021, approx. X tons of leather footwear were imported into Kuwait; growing by 44% on 2020. In general, imports saw resilient growth. The growth pace was the most rapid in 2013 with an increase of 145%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, leather footwear imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 64%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest leather footwear supplier to Kuwait, accounting for a 59% share of total imports. Moreover, leather footwear imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), fivefold. Turkey (X tons) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +18.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+9.1% per year) and Turkey (+15.1% per year).

In value terms, Italy ($X) constituted the largest supplier of leather footwear to Kuwait, comprising 47% of total imports. The second position in the ranking was taken by China ($X), with a 20% share of total imports. It was followed by Vietnam, with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy amounted to +13.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+18.6% per year) and Vietnam (+18.9% per year).

Import Prices by Country

In 2021, the average leather footwear import price amounted to $X per kg, which is down by -10% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 26% against the previous year. As a result, import price attained the peak level of $X per kg. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+4.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform