Footwear Market

The global footwear market is projected to see growth in both volume and value terms from 2022 to 2030, with a forecasted increase in market volume to 16 billion pairs and market value to $217.3 billion by 2030. Key consuming countries include the United States, China, and India, while China dominates global production and exports. Leather footwear, footwear of rubber or plastics, and footwear with uppers of textile materials are the top products in terms of consumption and production. The market is expected to see steady growth in the coming years, with notable growth in exports seen from countries like Vietnam and Turkey. Overall, the footwear market is set to see continuous growth and expansion in the near future.

Market Forecast

Driven by increasing demand for footwear worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +0.7% for the period from 2022 to 2030, which is projected to bring the market volume to 16B pairs by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.3% for the period from 2022 to 2030, which is projected to bring the market value to $217.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Footwear

In 2022, the amount of footwear consumed worldwide fell slightly to 15B pairs, approximately reflecting 2021 figures. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak volume of 16B pairs. From 2014 to 2022, the growth of the global consumption remained at a lower figure.

The global footwear market value stood at $180.6B in 2022, surging by 4.8% 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). Over the period under review, consumption, however, recorded slight growth. Global consumption peaked in 2022 and is expected to retain growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (2.3B pairs), China (2.3B pairs) and India (934M pairs), with a combined 36% share of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by India (with a CAGR of +5.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($28.8B), China ($17.2B) and Indonesia ($8.9B) constituted the countries with the highest levels of market value in 2022, together accounting for 30% of the global market. Germany, France, Bangladesh, Japan, India, Russia, the UK, Brazil, Nigeria and Pakistan lagged somewhat behind, together comprising a further 26%.

In terms of the main consuming countries, India, with a CAGR of +6.8%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of footwear per capita consumption in 2022 were the United States (6.9 pairs per person), the UK (5 pairs per person) and France (4.9 pairs per person).

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +3.9%), while consumption for the other global leaders experienced more modest paces of growth.

Consumption By Type

The products with the highest volumes of consumption in 2022 were footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap (6.8B pairs), footwear with uppers of textile materials (4.3B pairs) and leather footwear (3.4B pairs), together comprising 95% of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consumed products, was attained by footwear with uppers of textile materials (with a CAGR of +3.1%), while consumption for the other products experienced a decline in the consumption figures.

In value terms, leather footwear ($82.8B), footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap ($44.2B) and footwear with uppers of textile materials ($39.7B) were the products with the highest levels of market value in 2022, with a combined 96% share of the global market.

In terms of the main consumed products, footwear with uppers of textile materials, with a CAGR of +5.7%, recorded the highest growth rate of market size over the period under review, while market for the other products experienced mixed trends in the market figures.

Production

World Production of Footwear

Global footwear production rose significantly to 20B pairs in 2022, increasing by 6.6% on the previous year's figure. The total output volume increased at an average annual rate of +1.0% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 7.1%. Global production peaked at 20B pairs in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

In value terms, footwear production amounted to $165.1B in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 8.6% against the previous year. As a result, production attained the peak level of $186.5B. From 2020 to 2022, global production growth remained at a lower figure.

Production By Country

China (12B pairs) constituted the country with the largest volume of footwear production, accounting for 60% of total volume. Moreover, footwear production in China exceeded the figures recorded by the second-largest producer, India (953M pairs), more than tenfold. Vietnam (786M pairs) ranked third in terms of total production with a 4% share.

In China, footwear production remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (+5.8% per year) and Vietnam (+4.8% per year).

Production By Type

The products with the highest volumes of production in 2022 were footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap (9.6B pairs), footwear with uppers of textile materials (6.1B pairs) and leather footwear (3.2B pairs), together comprising 96% of global production.

From 2012 to 2022, the biggest increases were recorded for footwear with uppers of textile materials (with a CAGR of +5.0%), while production for the other products experienced mixed trends in the production figures.

In value terms, the largest types of footwear in terms of market size were leather footwear ($72.9B), footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap ($45.8B) and footwear with uppers of textile materials ($38.7B), together accounting for 95% of global production.

Footwear with uppers of textile materials, with a CAGR of +4.8%, recorded the highest growth rate of market size among the main produced products over the period under review, while production for the other products experienced mixed trends in the production figures.

Imports

World Imports of Footwear

Global footwear imports expanded remarkably to 9.3B pairs in 2022, increasing by 6.5% compared with the year before. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 20%. Over the period under review, global imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, footwear imports skyrocketed to $125.6B in 2022. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2021 with an increase of 18% against the previous year. Over the period under review, global imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

Imports By Country

The United States was the major importer of footwear in the world, with the volume of imports amounting to 2.2B pairs, which was near 24% of total imports in 2022. It was distantly followed by Germany (581M pairs), creating a 6.2% share of total imports. France (382M pairs), the Netherlands (370M pairs), the UK (348M pairs), Russia (295M pairs), Italy (294M pairs), Spain (252M pairs), Belgium (244M pairs), Japan (239M pairs), Poland (202M pairs), the United Arab Emirates (188M pairs) and China (178M pairs) held a relatively small share of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of footwear. At the same time, China (+16.3%), Poland (+7.8%), the Netherlands (+7.5%), Germany (+3.4%), Belgium (+2.1%) and Italy (+1.3%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in the world, with a CAGR of +16.3% from 2012-2022. Russia, Spain and France experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-3.3%), Japan (-3.7%) and the UK (-3.9%) illustrated a downward trend over the same period. While the share of the Netherlands (+1.9 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of the UK (-2.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($27.3B) constitutes the largest market for imported footwear worldwide, comprising 22% of global imports. The second position in the ranking was held by Germany ($10.9B), with an 8.6% share of global imports. It was followed by France, with a 5.9% share.

In the United States, footwear imports increased at an average annual rate of +2.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+4.2% per year) and France (+3.4% per year).

Imports By Type

Footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap (4.3B pairs) and footwear with uppers of textile materials (3B pairs) represented roughly 78% of total imports in 2022. It was distantly followed by leather footwear (1.9B pairs), comprising a 21% share of total imports. Waterproof footwear (158M pairs) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key imported products, was attained by footwear with uppers of textile materials (with a CAGR of +2.6%), while imports for the other products experienced mixed trends in the imports figures.

In value terms, the largest types of imported footwear were leather footwear ($57.6B), footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap ($34.3B) and footwear with uppers of textile materials ($32.2B), with a combined 99% share of global imports.

In terms of the main imported products, footwear with uppers of textile materials, with a CAGR of +8.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other products experienced more modest paces of growth.

Import Prices By Type

In 2022, the average footwear import price amounted to $13 per pair, increasing by 10% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the product type; the product with the highest price was leather footwear ($30 per pair), while the price for footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap ($8.1 per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by footwear with uppers of textile materials (+5.3%), while the other products experienced more modest paces of growth.

Import Prices By Country

The average footwear import price stood at $13 per pair in 2022, picking up by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($31 per pair), while the United Arab Emirates ($10 per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Footwear

In 2022, global exports of footwear soared to 14B pairs, surging by 16% compared with the previous year. The total export volume increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, footwear exports surged to $134.5B in 2022. The total export value increased at an average annual rate of +4.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 19% against the previous year. Over the period under review, the global exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports By Country

China dominates exports structure, resulting at 9.7B pairs, which was near 71% of total exports in 2022. It was distantly followed by Vietnam (724M pairs), making up a 5.3% share of total exports. Turkey (348M pairs) and Germany (290M pairs) took a little share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of footwear. At the same time, Turkey (+11.3%), Vietnam (+11.2%) and Germany (+5.8%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +11.3% from 2012-2022. From 2012 to 2022, the share of Vietnam and Turkey increased by +3.1 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($54B) remains the largest footwear supplier worldwide, comprising 40% of global exports. The second position in the ranking was held by Vietnam ($16.2B), with a 12% share of global exports. It was followed by Germany, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +4.3%. In the other countries, the average annual rates were as follows: Vietnam (+14.7% per year) and Germany (+8.5% per year).

Exports By Type

In 2022, footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap (7.1B pairs) was the key type of footwear, mixing up 52% of total exports. Footwear with uppers of textile materials (4.7B pairs) took a 34% share (based on physical terms) of total exports, which put it in second place, followed by leather footwear (13%).

From 2012 to 2022, the biggest increases were recorded for footwear with uppers of textile materials (with a CAGR of +5.2%), while shipments for the other products experienced more modest paces of growth.

In value terms, leather footwear ($54B), footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap ($44.3B) and footwear with uppers of textile materials ($34.6B) appeared to be the products with the highest levels of exports in 2022, together comprising 99% of global exports.

Among the main exported products, footwear with uppers of textile materials, with a CAGR of +9.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other products experienced more modest paces of growth.

Export Prices By Type

In 2022, the average footwear export price amounted to $9.8 per pair, remaining stable against the previous year. Over the last decade, it increased at an average annual rate of +2.8%. The growth pace was the most rapid in 2018 an increase of 8.4% against the previous year. The global export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by the product type; the product with the highest price was leather footwear ($31 per pair), while the average price for exports of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap ($6.3 per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap (+5.1%), while the other products experienced more modest paces of growth.

Export Prices By Country

The average footwear export price stood at $9.8 per pair in 2022, approximately mirroring the previous year. Over the last decade, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2018 an increase of 8.4%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($27 per pair), while Turkey ($3.2 per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform