Waterproof Footwear Market

The global waterproof footwear market is projected to experience steady growth over the next eight years, with an anticipated increase in both market volume and value. By the end of 2030, the market volume is expected to reach 929M pairs, while the market value is forecasted to reach $8.9B. Brazil leads the world in both consumption and production of waterproof footwear, with China and India also playing significant roles in the market. Import and export trends are also analyzed, with China dominating the global exports market. Overall, the waterproof footwear market is expected to continue growing in the coming years, driven by increasing demand worldwide.

Market Forecast

Driven by rising demand for waterproof footwear worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.6% for the period from 2022 to 2030, which is projected to bring the market volume to 929M pairs by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.6% for the period from 2022 to 2030, which is projected to bring the market value to $8.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Waterproof Footwear

In 2022, approx. 820M pairs of waterproof footwear were consumed worldwide; approximately mirroring 2021 figures. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak volume of 1.1B pairs. From 2014 to 2022, the growth of the global consumption remained at a lower figure.

The global waterproof footwear market size expanded to $6.7B in 2022, picking up by 1.6% 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). Overall, consumption, however, saw a mild reduction. As a result, consumption reached the peak level of $8B. From 2014 to 2022, the growth of the global market remained at a somewhat lower figure.

Consumption By Country

Brazil (305M pairs) remains the largest waterproof footwear consuming country worldwide, comprising approx. 37% of total volume. Moreover, waterproof footwear consumption in Brazil exceeded the figures recorded by the second-largest consumer, China (70M pairs), fourfold. India (60M pairs) ranked third in terms of total consumption with a 7.3% share.

From 2012 to 2022, the average annual growth rate of volume in Brazil amounted to +5.3%. In the other countries, the average annual rates were as follows: China (-4.4% per year) and India (-4.5% per year).

In value terms, Brazil ($2B) led the market, alone. The second position in the ranking was held by the United States ($809M). It was followed by Japan.

From 2012 to 2022, the average annual growth rate of value in Brazil amounted to +2.1%. In the other countries, the average annual rates were as follows: the United States (-0.7% per year) and Japan (-3.5% per year).

In 2022, the highest levels of waterproof footwear per capita consumption was registered in Brazil (1,418 pairs per 1000 persons), followed by Japan (277 pairs per 1000 persons), Italy (260 pairs per 1000 persons) and France (224 pairs per 1000 persons), while the world average per capita consumption of waterproof footwear was estimated at 104 pairs per 1000 persons.

From 2012 to 2022, the average annual growth rate of the waterproof footwear per capita consumption in Brazil totaled +4.6%. In the other countries, the average annual rates were as follows: Japan (-2.6% per year) and Italy (+4.2% per year).

Production

World Production of Waterproof Footwear

Global waterproof footwear production expanded modestly to 865M pairs in 2022, rising by 3% against the year before. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 29% against the previous year. As a result, production attained the peak volume of 1.1B pairs. From 2014 to 2022, global production growth remained at a somewhat lower figure.

In value terms, waterproof footwear production reached $7.6B in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. Global production peaked at $8.1B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were Brazil (305M pairs), China (204M pairs) and India (61M pairs), together comprising 66% of global production.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +5.4%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Waterproof Footwear

In 2022, the amount of waterproof footwear imported worldwide dropped to 158M pairs, waning by -5.4% compared with the previous year. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 25% against the previous year. Over the period under review, global imports reached the maximum at 184M pairs in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, waterproof footwear imports rose sharply to $1.5B in 2022. The total import value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 36%. Over the period under review, global imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports By Country

In 2022, the United States (17M pairs), followed by Japan (11M pairs), the UK (8.9M pairs), Italy (8.9M pairs), Myanmar (8.7M pairs), Germany (8.1M pairs), France (7.3M pairs) and the Netherlands (7.3M pairs) represented the key importers of waterproof footwear, together constituting 48% of total imports. Kyrgyzstan (6.3M pairs), Canada (3.9M pairs), Poland (3.4M pairs), Colombia (3.1M pairs) and Sweden (2.9M pairs) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +56.9%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest waterproof footwear importing markets worldwide were the United States ($167M), Japan ($135M) and Germany ($120M), together comprising 28% of global imports. Italy, the UK, France, Canada, the Netherlands, Sweden, Poland, Colombia, Kyrgyzstan and Myanmar lagged somewhat behind, together accounting for a further 33%.

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

Imports By Type

Waterproof footwear, no toe cap, over ankle was the largest type of waterproof footwear in the world, with the volume of imports accounting for 109M pairs, which was approx. 69% of total imports in 2022. It was distantly followed by waterproof footwear, no toe cap, nes (50M pairs), comprising a 31% share of total imports.

Waterproof footwear, no toe cap, over ankle experienced a relatively flat trend pattern with regard to volume of imports. Waterproof footwear, no toe cap, nes experienced a relatively flat trend pattern. The shares of the largest types remained relatively stable throughout the analyzed period.

In value terms, waterproof footwear, no toe cap, over ankle ($1.2B) constitutes the largest type of waterproof footwear imported worldwide, comprising 78% of global imports. The second position in the ranking was held by waterproof footwear, no toe cap, nes ($331M), with a 22% share of global imports.

For waterproof footwear, no toe cap, over ankle, imports increased at an average annual rate of +1.6% over the period from 2012-2022.

Import Prices By Type

The average waterproof footwear import price stood at $9.4 per pair in 2022, increasing by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was waterproof footwear, no toe cap, over ankle ($11 per pair), while the price for waterproof footwear, no toe cap, nes totaled $6.7 per pair.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by footwear; waterproof, n.e.s. in heading no. 6401, rubber or plastic outer soles and uppers (not assembled by stitch, rivet, nail, screw, plug or similar) (+2.8%).

Import Prices By Country

The average waterproof footwear import price stood at $9.4 per pair in 2022, picking up by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Sweden ($16 per pair), while Myanmar ($0.4 per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Waterproof Footwear

In 2022, overseas shipments of waterproof footwear increased by 2.2% to 203M pairs, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 27%. The global exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, waterproof footwear exports totaled $1.7B in 2022. The total export value increased at an average annual rate of +3.5% over the period from 2012 to 2022; 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 35% 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 years to come.

Exports By Country

China dominates exports structure, recording 134M pairs, which was near 66% of total exports in 2022. Italy (8.4M pairs), Uzbekistan (6.2M pairs), the Netherlands (3.9M pairs) and Vietnam (3.3M pairs) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to waterproof footwear exports from China stood at +4.4%. At the same time, Vietnam (+14.9%) and the Netherlands (+7.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +14.9% from 2012-2022. By contrast, Italy (-3.3%) and Uzbekistan (-6.1%) illustrated a downward trend over the same period. China (+9.5 p.p.) and Uzbekistan (+3.1 p.p.) significantly strengthened its position in terms of the global exports, while Italy saw its share reduced by -3.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($811M) remains the largest waterproof footwear supplier worldwide, comprising 49% of global exports. The second position in the ranking was taken by Italy ($122M), with a 7.3% share of global exports. It was followed by Vietnam, with a 3.2% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +4.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (+1.8% per year) and Vietnam (+20.9% per year).

Exports By Type

Waterproof footwear, no toe cap, over ankle was the main exported product with an export of about 166M pairs, which accounted for 82% of total exports. It was distantly followed by waterproof footwear, no toe cap, nes (37M pairs), making up an 18% share of total exports.

Waterproof footwear, no toe cap, over ankle was also the fastest-growing in terms of exports, with a CAGR of +3.5% from 2012 to 2022. Waterproof footwear, no toe cap, nes experienced a relatively flat trend pattern. Waterproof footwear, no toe cap, over ankle (+4.8 p.p.) significantly strengthened its position in terms of the global exports, while waterproof footwear, no toe cap, nes saw its share reduced by -4.8% from 2012 to 2022, respectively.

In value terms, waterproof footwear, no toe cap, over ankle ($1.4B) remains the largest type of waterproof footwear supplied worldwide, comprising 83% of global exports. The second position in the ranking was held by waterproof footwear, no toe cap, nes ($291M), with a 17% share of global exports.

From 2012 to 2022, the average annual rate of growth in terms of the value of waterproof footwear, no toe cap, over ankle exports amounted to +3.9%.

Export Prices By Type

The average waterproof footwear export price stood at $8.2 per pair in 2022, approximately mirroring the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average export price increased by 9.4%. The global export price peaked at $8.3 per pair in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exported products. In 2022, the product with the highest price was waterproof footwear, no toe cap, over ankle ($8.3 per pair), while the average price for exports of waterproof footwear, no toe cap, nes totaled $7.8 per pair.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by footwear; waterproof, n.e.s. in heading no. 6401, rubber or plastic outer soles and uppers (not assembled by stitch, rivet, nail, screw, plug or similar) (+1.5%).

Export Prices By Country

The average waterproof footwear export price stood at $8.2 per pair in 2022, flattening at the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average export price increased by 9.4%. Over the period under review, the average export prices reached the peak figure at $8.3 per pair in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

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 Vietnam ($17 per pair), while Uzbekistan ($1.5 per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+12.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform