U.S.: Footwear Market 2024

Footwear Market Size in the U.S.

In 2022, the U.S. footwear market increased by X% to $X, rising for the second year in a row after six years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Footwear Production in the U.S.

In value terms, footwear production surged to $X in 2022. Overall, production posted a buoyant increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Footwear production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

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Footwear Exports

Exports from the U.S.

In 2022, overseas shipments of footwear increased by X% to X pairs, rising for the second consecutive year after two years of decline. In general, exports, however, saw a pronounced shrinkage. The exports peaked at X pairs in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, footwear exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a perceptible reduction. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Canada (X pairs) was the main destination for footwear exports from the United States, with a X% share of total exports. Moreover, footwear exports to Canada exceeded the volume sent to the second major destination, Mexico (X pairs), sixfold. The third position in this ranking was taken by Israel (X pairs), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Israel (X% per year).

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

From 2012 to 2022, the average annual growth rate of value to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and the Netherlands (X% per year).

Export Prices by Country

The average footwear export price stood at $X per pair in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2014 an increase of X%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

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 the Netherlands ($X per pair), while the average price for exports to Honduras ($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 Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.

Footwear Imports

Imports into the U.S.

In 2022, imports of footwear into the United States expanded remarkably to X pairs, with an increase of X% against the previous year's figure. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, footwear imports surged to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X pairs) constituted the largest supplier of footwear to the United States, with a X% share of total imports. Moreover, footwear imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X pairs), threefold. Indonesia (X pairs) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Indonesia (X% per year).

In value terms, China ($X), Vietnam ($X) and Indonesia ($X) constituted the largest footwear suppliers to the United States, together accounting for X% of total imports. Cambodia and India lagged somewhat behind, together comprising a further X%.

Cambodia, with a CAGR of X%, recorded 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

In 2022, the average footwear import price amounted to $X per pair, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. As a result, import price reached the peak level of $X per pair. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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