Republic of Korea: Market for Footwear with Uppers of Textile Materials 2025

Market Size for Footwear with Uppers of Textile Materials in Republic of Korea

The South Korean market for footwear with uppers of textile materials skyrocketed to $X in 2022, jumping by 23% against the previous year. In general, consumption saw a resilient increase. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the near future.

Production of Footwear with Uppers of Textile Materials in Republic of Korea

In value terms, production of footwear with uppers of textile materials soared to $X in 2022 estimated in export price. Over the period under review, production posted a prominent increase. The pace of growth appeared the most rapid in 2020 when the production volume increased by 6,606% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production of growth remained at a somewhat lower figure.

Exports of Footwear with Uppers of Textile Materials

Exports from Republic of Korea

In 2022, shipments abroad of footwear with uppers of textile materials decreased by -11.5% to X pairs, falling for the second year in a row after two years of growth. In general, exports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2016 with an increase of 71%. The exports peaked at X pairs in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, exports of footwear with uppers of textile materials dropped modestly to $X in 2022. Overall, exports, however, showed a resilient increase. The growth pace was the most rapid in 2017 when exports increased by 91%. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

The United States (X pairs) was the main destination for exports of footwear with uppers of textile materials from South Korea, with a 45% share of total exports. Moreover, exports of footwear with uppers of textile materials to the United States exceeded the volume sent to the second major destination, China (X pairs), threefold. Japan (X pairs) ranked third in terms of total exports with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +26.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+2.1% per year) and Japan (-10.3% per year).

In value terms, the United States ($X), China ($X) and Italy ($X) constituted the largest markets for footwear with uppers of textile materials exported from South Korea worldwide, with a combined 68% share of total exports.

In terms of the main countries of destination, Italy, with a CAGR of +52.2%, saw the highest growth rate of the value of exports, 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 export price for footwear with uppers of textile materials amounted to $X per pair, surging by 8% against the previous year. Overall, the export price posted a buoyant expansion. The growth pace was the most rapid in 2017 an increase of 49% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per pair), while the average price for exports to Canada ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+12.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Footwear with Uppers of Textile Materials

Imports into Republic of Korea

In 2022, supplies from abroad of footwear with uppers of textile materials was finally on the rise to reach X pairs after two years of decline. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports of attained the peak figure at X pairs in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, imports of footwear with uppers of textile materials rose notably to $X in 2022. In general, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2018 when imports increased by 22%. Over the period under review, imports of reached the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

China (X pairs), Vietnam (X pairs) and Italy (X pairs) were the main suppliers of imports of footwear with uppers of textile materials to South Korea, with a combined 80% share of total imports. Indonesia, Cambodia and the United States lagged somewhat behind, together comprising a further 12%.

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 +51.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Vietnam ($X) and Italy ($X) appeared to be the largest footwear with uppers of textile materials suppliers to South Korea, with a combined 80% share of total imports. Indonesia, Cambodia and the United States lagged somewhat behind, together comprising a further 12%.

Cambodia, with a CAGR of +64.6%, saw the highest growth rate of 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 import price for footwear with uppers of textile materials stood at $X per pair in 2022, waning by -5.8% against the previous year. Over the period under review, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for footwear with uppers of textile materials increased by +33.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 28% against the previous year. Over the period under review, average import prices hit record highs at $X per pair in 2021, and then fell 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 the United States ($X per pair) and Italy ($X per pair), while the price for Cambodia ($X per pair) and Vietnam ($X per pair) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :