South-Eastern Asia: Waterproof Footwear Market 2024

Waterproof Footwear Market Size in South-Eastern Asia

In 2022, the Southeast Asian waterproof footwear market decreased by -13% to $X, falling for the eighth consecutive year after three years of growth. Overall, consumption saw a pronounced slump. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Waterproof Footwear Production in South-Eastern Asia

In value terms, waterproof footwear production contracted to $X in 2022 estimated in export price. Overall, production recorded a perceptible slump. The pace of growth was the most pronounced in 2013 when the production volume increased by 14% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Waterproof Footwear Exports

Exports in South-Eastern Asia

In 2022, shipments abroad of waterproof footwear increased by 37% to X pairs, rising for the second consecutive year after two years of decline. Overall, exports recorded prominent growth. The pace of growth appeared the most rapid in 2021 when exports increased by 76% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, waterproof footwear exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 86%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

In 2022, Indonesia (X pairs) represented the major exporter of waterproof footwear, comprising 50% of total exports. Thailand (X pairs) ranks second in terms of the total exports with a 23% share, followed by Vietnam (19%) and Malaysia (4.5%). Singapore (X pairs) followed a long way behind the leaders.

Indonesia was also the fastest-growing in terms of the waterproof footwear exports, with a CAGR of +22.4% from 2012 to 2022. At the same time, Vietnam (+7.5%) displayed positive paces of growth. By contrast, Thailand (-1.8%), Malaysia (-4.9%) and Singapore (-9.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia and Vietnam increased by +39 and +3.5 percentage points, respectively.

In value terms, Indonesia ($X) remains the largest waterproof footwear supplier in South-Eastern Asia, comprising 63% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 21% share of total exports. It was followed by Thailand, with an 8.5% share.

In Indonesia, waterproof footwear exports increased at an average annual rate of +26.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+10.2% per year) and Thailand (+7.6% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per pair in 2022, rising by 4.7% against the previous year. Over the period under review, the export price showed a prominent increase. The pace of growth appeared the most rapid in 2019 an increase of 66% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per pair), while Thailand ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+9.6%), while the other leaders experienced more modest paces of growth.

Waterproof Footwear Imports

Imports in South-Eastern Asia

In 2022, purchases abroad of waterproof footwear increased by 1.9% to X pairs, rising for the second consecutive year after two years of decline. In general, imports showed resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 58%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, waterproof footwear imports contracted to $X in 2022. Overall, imports, however, showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 66% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Myanmar represented the main importing country with an import of around X pairs, which reached 71% of total imports. It was distantly followed by Malaysia (X pairs), committing a 14% share of total imports. The following importers - Singapore (X pairs), the Philippines (X pairs), Thailand (X pairs), Indonesia (X pairs) and Vietnam (X pairs) - together made up 14% of total imports.

Myanmar was also the fastest-growing in terms of the waterproof footwear imports, with a CAGR of +55.2% from 2012 to 2022. At the same time, Vietnam (+9.2%), the Philippines (+6.9%) and Malaysia (+4.3%) displayed positive paces of growth. By contrast, Thailand (-2.0%), Indonesia (-2.4%) and Singapore (-17.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Myanmar increased by +69 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Myanmar ($X), Singapore ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 61% share of total imports.

Myanmar, with a CAGR of +18.5%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per pair in 2022, with a decrease of -6.8% against the previous year. Over the period under review, the import price saw a abrupt downturn. The growth pace was the most rapid in 2015 an increase of 29% against the previous year. As a result, import price attained the peak level of $X per pair. From 2016 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per pair), while Myanmar ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+10.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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