Southern Asia: Leather Footwear Market 2024

Leather Footwear Market Size in Southern Asia

The South Asian leather footwear market declined to $X in 2021, standing approx. at the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Leather Footwear Production in Southern Asia

In value terms, leather footwear production reduced modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 16%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Leather Footwear Exports

Exports in Southern Asia

In 2021, approx. X tons of leather footwear were exported in Southern Asia; picking up by 29% compared with 2020. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -7.9% against 2019 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 32%. The volume of export peaked at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, leather footwear exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when exports increased by 35% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Bangladesh represented the largest exporter of leather footwear in Southern Asia, with the volume of exports accounting for X tons, which was near 58% of total exports in 2021. It was distantly followed by India (X tons), mixing up a 38% share of total exports. Pakistan (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Bangladesh (with a CAGR of +14.5%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the largest leather footwear supplying countries in Southern Asia were India ($X), Bangladesh ($X) and Pakistan ($X), with a combined 100% share of total exports.

In terms of the main exporting countries, Bangladesh, with a CAGR of +19.7%, recorded the highest rates of growth with regard to 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

The export price in Southern Asia stood at $X per kg in 2021, standing approx. at the previous year. In general, the export price, however, continues to indicate a slight decline. The pace of growth was the most pronounced in 2017 an increase of 6.8% against the previous year. Over the period under review, the export prices hit record highs at $X per kg in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+4.5%), while the other leaders experienced more modest paces of growth.

Leather Footwear Imports

Imports in Southern Asia

In 2021, overseas purchases of leather footwear were finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. Overall, imports, however, recorded a noticeable contraction. The volume of import peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, leather footwear imports soared to $X in 2021. In general, imports, however, continue to indicate a noticeable slump. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) was the key importer of leather footwear, committing 50% of total imports. It was distantly followed by Bangladesh (X tons), Afghanistan (X tons) and Nepal (X tons), together achieving a 43% share of total imports. Sri Lanka (X tons) and Pakistan (X tons) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to leather footwear imports into India stood at -3.5%. At the same time, Bangladesh (+21.9%), Nepal (+8.2%) and Sri Lanka (+3.1%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +21.9% from 2012-2021. Afghanistan experienced a relatively flat trend pattern. By contrast, Pakistan (-27.9%) illustrated a downward trend over the same period. While the share of Bangladesh (+20 p.p.), Afghanistan (+4.5 p.p.) and Nepal (+3.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Pakistan (-28.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported leather footwear in Southern Asia, comprising 65% of total imports. The second position in the ranking was taken by Bangladesh ($X), with an 11% share of total imports. It was followed by Afghanistan, with an 8.8% share.

From 2012 to 2021, the average annual growth rate of value in India stood at -2.0%. In the other countries, the average annual rates were as follows: Bangladesh (+8.5% per year) and Afghanistan (-2.1% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per kg in 2021, declining by -5.7% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 16%. As a result, import price reached the peak level of $X per kg. From 2019 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Sri Lanka ($X per kg), while Bangladesh ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform