{"id":8928,"date":"2024-08-21T14:36:18","date_gmt":"2024-08-21T12:36:18","guid":{"rendered":"https:\/\/arsutoriastudio.com\/global-footwear-production-goes-down-and-asia-leads-consuption\/"},"modified":"2024-08-21T19:32:00","modified_gmt":"2024-08-21T17:32:00","slug":"global-footwear-production-goes-down-and-asia-leads-consuption","status":"publish","type":"post","link":"https:\/\/arsutoriastudio.com\/en\/global-footwear-production-goes-down-and-asia-leads-consuption\/","title":{"rendered":"Global footwear production goes down and Asia leads consuption"},"content":{"rendered":"
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DROP IN GLOBAL FOOTWEAR PRODUCTION<\/p>\n

In 2023 global footwear production decreased by 6% to 22.4 billion pairs, the lowest point in a decade when discounting the pandemic years of 2020 and 2021.<\/p>\n

The footwear industry continues to be strongly concentrated in Asia where almost 9 out of every 10 pairs of shoes are manufactured, resulting in a share of 87.1% of the world total.<\/p>\n

China is the world\u2019s largest footwear producer manufacturing 12.3 billion pairs in 2023 and capturing almost 55% of the global market share. India increased its share, now being accountable for 11.6% of the world total.<\/p>\n

 <\/p>\n

ASIA ACCOUNTS FOR MORE THAN HALF OF GLOBAL CONSUMPTION<\/p>\n

In 2023 Asia\u2019s consumption accounted for more than half (54.7%) of the worldwide total, an increase in the share registered for this continent in the previous year. Europe and North America followed with shares of 13.9% and 13.4% respectively.<\/p>\n

Per capita footwear consumption varies from 1.5 pairs in Africa to 4.6 pairs in North America.<\/p>\n

China remains the leading consumer of footwear, although its share of the global total has further declined to now stand at 17.1%.<\/p>\n

Consumption in the United States recorded a significant reduction with the country losing the second position achieved in the previous year and exchanging places, once again, with India. <\/span><\/p>\n

The European Union, when taken as one region, represents the third largest consumer market for footwear with 1 948 million pairs consumed in 2023.<\/p>\n

 <\/p>\n

A SIGNIFICANT SETBACK FOR FOOTWEAR EXPORTS IN 2023<\/p>\n

Global footwear exports amounted to 14 billion pairs and $168 billion in 2023, implying a 9.1% and a 6.1% year-on-year decrease in volumes traded and value of transactions respectively.<\/p>\n

Over the last decade, excluding 2020, the annual export volume fluctuated between 14 and 16 billion pairs with no discernible long-term trend. By comparison, the value of exports in 2023 climbed to reach $168 billion, the second-highest level on record and corresponding to a 24% increase when viewed against 2014 levels.<\/p>\n

Amidst this challenging landscape, Asian countries consolidated their dominance in the global footwear trade, with their collective share rising to 84.6% from 83.9% in 2022. Conversely, Europe\u2019s share contracted slightly to 12.8%.<\/p>\n

China stands out as the source of 63.8% of total exports, increasing from 61.3% in 2022. Vietnam ranks a distant second at 9.5%, followed by Indonesia at 3.2%. These three countries taken together account for over three-quarters of worldwide footwear exports.<\/p>\n

 <\/p>\n

AVERAGE WORLDWIDE EXPORT PRICE CONTINUES AN UPWARD TREND TO REACH $12<\/p>\n

The average export price per pair of footwear reached 12 dollars in 2023, representing a 3.2% increase over 2022, a substantial increase of 38.8% over the past decade. Over that decade, textile footwear saw the most substantial price appreciation with a remarkable 65% increase. Leather footwear prices showed a modest increase of 24% over the period.<\/p>\n

 <\/p>\n

LEATHER FOOTWEAR LEADS EXPORTS IN VALUE, BUT RUBBER & PLASTIC LEADS IN VOLUME<\/p>\n

When considering the value of exports, leather footwear accounts for 38% of the total value due to its higher average price. In terms of the volume of footwear exported, rubber & plastic footwear commands the pole position, accounting for half of the global exports.<\/p>\n

——<\/p>\n

THE WORLD FOOTWEAR YEARBOOK 2024 IS NOW ON SALE FROM<\/b>
www.worldfootwear.com<\/span><\/b><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The World Footwear Yearbook 2024 was published, which also highlights the retreat of international exports and the further decline in volumes of leather products.<\/p>\n","protected":false},"author":1,"featured_media":8938,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[148],"tags":[],"class_list":["post-8928","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-flash-news"],"_links":{"self":[{"href":"https:\/\/arsutoriastudio.com\/en\/wp-json\/wp\/v2\/posts\/8928","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arsutoriastudio.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arsutoriastudio.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arsutoriastudio.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/arsutoriastudio.com\/en\/wp-json\/wp\/v2\/comments?post=8928"}],"version-history":[{"count":0,"href":"https:\/\/arsutoriastudio.com\/en\/wp-json\/wp\/v2\/posts\/8928\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/arsutoriastudio.com\/en\/wp-json\/wp\/v2\/media\/8938"}],"wp:attachment":[{"href":"https:\/\/arsutoriastudio.com\/en\/wp-json\/wp\/v2\/media?parent=8928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arsutoriastudio.com\/en\/wp-json\/wp\/v2\/categories?post=8928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arsutoriastudio.com\/en\/wp-json\/wp\/v2\/tags?post=8928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}