Philippines: Market for Footwear of Rubber or Plastics, not Waterproof, not Sports, without a Metal Toe-Cap 2024

Market Size for Footwear of Rubber or Plastics, not Waterproof, not Sports, without a Metal Toe-Cap in the Philippines

The Philippine market for footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap dropped to $X in 2021, which is down by -7.3% 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 showed a abrupt shrinkage. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Exports of Footwear of Rubber or Plastics, not Waterproof, not Sports, without a Metal Toe-Cap

Exports from the Philippines

In 2021, approx. X tons of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap were exported from the Philippines; waning by -64.1% on the previous year's figure. Overall, exports saw a deep slump. The growth pace was the most rapid in 2016 with an increase of 214% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap reduced notably to $X in 2021. Over the period under review, exports recorded a perceptible shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 219%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

Vanuatu (X tons), Malaysia (X tons) and Japan (X tons) were the main destinations of exports of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap from the Philippines, with a combined 63% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Vanuatu (with a CAGR of +10.7%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Vanuatu ($X), Malaysia ($X) and Japan ($X) were the largest markets for footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap exported from the Philippines worldwide, together accounting for 57% of total exports. Tonga, Hong Kong SAR, the United States and Micronesia lagged somewhat behind, together accounting for a further 32%.

Tonga, with a CAGR of +211.5%, 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

In 2021, the average export price for footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap amounted to $X per ton, with an increase of 9.2% against the previous year. Overall, the export price saw resilient growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 94%. 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 Tonga ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Tonga (+26.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Footwear of Rubber or Plastics, not Waterproof, not Sports, without a Metal Toe-Cap

Imports into the Philippines

In 2021, approx. X tons of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap were imported into the Philippines; dropping by -7.7% compared with the previous year's figure. Overall, imports faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 when imports increased by 235%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap shrank to $X in 2021. In general, imports, however, continue to indicate resilient growth. The growth pace was the most rapid in 2016 when imports increased by 157%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap to the Philippines, accounting for a 60% share of total imports. Moreover, imports of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), fourfold. Brazil (X tons) ranked third in terms of total imports with a 7.5% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -23.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+10.2% per year) and Brazil (-3.7% per year).

In value terms, China ($X) constituted the largest supplier of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap to the Philippines, comprising 59% of total imports. The second position in the ranking was held by Vietnam ($X), with a 17% share of total imports. It was followed by Brazil, with a 7.3% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+10.4% per year) and Brazil (+3.3% per year).

Import Prices by Country

The average import price for footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap stood at $X per ton in 2021, falling by -6.3% against the previous year. In general, the import price, however, saw significant growth. The pace of growth appeared the most rapid in 2018 when the average import price increased by 365% against the previous year. The import price peaked at $X per ton in 2020, and then reduced in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Germany ($X per ton) and India ($X per ton), while the price for Brazil ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+39.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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