Latin America and the Caribbean: Athletic Footwear Market 2024

Athletic Footwear Market Size in Latin America and the Caribbean

The Latin American athletic footwear market skyrocketed to $X in 2022, surging by 17% against the previous year. In general, consumption, however, saw a mild setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Athletic Footwear Production in Latin America and the Caribbean

In value terms, athletic footwear production totaled $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2016 when the production volume increased by 9.4% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Athletic Footwear Exports

Exports in Latin America and the Caribbean

In 2022, athletic footwear exports in Latin America and the Caribbean soared to X pairs, jumping by 55% against 2021. Overall, exports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of 240% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, athletic footwear exports surged to $X in 2022. Over the period under review, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 370%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Brazil was the largest exporting country with an export of about X pairs, which accounted for 43% of total exports. Panama (X pairs) took a 27% share (based on physical terms) of total exports, which put it in second place, followed by Mexico (16%) and Chile (8.7%). Peru (X pairs) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +29.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest athletic footwear supplying countries in Latin America and the Caribbean were Panama ($X), Brazil ($X) and Chile ($X), together comprising 89% of total exports. Mexico and Peru lagged somewhat behind, together accounting for a further 9.1%.

Peru, with a CAGR of +32.3%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per pair, growing by 19% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2014 when the export price increased by 38%. The level of export peaked at $X per pair in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per pair), while Mexico ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+6.2%), while the other leaders experienced more modest paces of growth.

Athletic Footwear Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of athletic footwear increased by 29% to X pairs, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 40%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, athletic footwear imports soared to $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +68.7% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico was the key importing country with an import of about X pairs, which amounted to 43% of total imports. Chile (X pairs) ranks second in terms of the total imports with a 15% share, followed by Argentina (14%), Brazil (6.3%) and Bolivia (5.5%). Peru (X pairs) and Belize (X pairs) took a little share of total imports.

Imports into Mexico increased at an average annual rate of +8.7% from 2012 to 2022. At the same time, Belize (+52.6%), Argentina (+28.2%), Chile (+26.4%) and Peru (+10.1%) displayed positive paces of growth. Moreover, Belize emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +52.6% from 2012-2022. By contrast, Brazil (-3.2%) and Bolivia (-9.4%) illustrated a downward trend over the same period. Mexico (+18 p.p.), Chile (+13 p.p.), Argentina (+13 p.p.), Belize (+2.1 p.p.) and Peru (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Brazil and Bolivia saw its share reduced by -5.3% and -14% from 2012 to 2022, respectively.

In value terms, Mexico ($X) constitutes the largest market for imported athletic footwear in Latin America and the Caribbean, comprising 45% of total imports. The second position in the ranking was held by Argentina ($X), with a 13% share of total imports. It was followed by Chile, with an 11% share.

In Mexico, athletic footwear imports expanded at an average annual rate of +14.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Argentina (+25.3% per year) and Chile (+17.6% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per pair in 2022, increasing by 5.6% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2017 an increase of 12%. The level of import peaked at $X per pair in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per pair), while Bolivia ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+10.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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