Philippines: Leather Footwear Market 2025

Leather Footwear Market Size in the Philippines

After three years of decline, the Philippine leather footwear market increased by 17% to $X in 2021. Over the period under review, consumption, however, showed a abrupt downturn. Leather footwear consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Leather Footwear Exports

Exports from the Philippines

In 2021, shipments abroad of leather footwear was finally on the rise to reach X tons after two years of decline. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 752%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, leather footwear exports skyrocketed to $X in 2021. Overall, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2018 when exports increased by 2,242% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

The United States (X tons) was the main destination for leather footwear exports from the Philippines, with a 53% share of total exports. Moreover, leather footwear exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. China (X tons) ranked third in terms of total exports with a 4.8% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +89.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+46.3% per year) and China (+49.7% per year).

In value terms, the United States ($X) remains the key foreign market for leather footwear exports from the Philippines, comprising 54% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 19% share of total exports. It was followed by the UK, with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +138.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+72.7% per year) and the UK (+65.2% per year).

Export Prices by Country

The average leather footwear export price stood at $X per kg in 2021, with a decrease of -41.7% against the previous year. In general, the export price, however, continues to indicate significant growth. The growth pace was the most rapid in 2018 when the average export price increased by 175% against the previous year. Over the period under review, the average export prices attained the maximum at $X per kg in 2020, and then reduced notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per kg), while the average price for exports to Singapore ($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 China (+32.5%), while the prices for the other major destinations experienced more modest paces of growth.

Leather Footwear Imports

Imports into the Philippines

In 2021, purchases abroad of leather footwear was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, faced a abrupt contraction. The most prominent rate of growth was recorded in 2017 with an increase of 78%. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, leather footwear imports surged to $X in 2021. In general, total imports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -22.5% against 2019 indices. The growth pace was the most rapid in 2014 when imports increased by 59% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of leather footwear to the Philippines, with a 69% share of total imports. Moreover, leather footwear imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), eightfold. The third position in this ranking was taken by Indonesia (X tons), with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -17.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-2.2% per year) and Indonesia (+11.4% per year).

In value terms, China ($X), Vietnam ($X) and Indonesia ($X) appeared to be the largest leather footwear suppliers to the Philippines, together accounting for 62% of total imports. These countries were followed by Singapore, Hong Kong SAR and South Korea, which together accounted for a further 11%.

In terms of the main suppliers, Singapore, with a CAGR of +45.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average leather footwear import price stood at $X per kg in 2021, shrinking by -20.9% against the previous year. Overall, the import price, however, posted a significant expansion. The pace of growth was the most pronounced in 2018 an increase of 208%. The import price peaked at $X per kg in 2020, and then declined significantly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per kg), while the price for South Korea ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+28.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform