India: Footwear Market 2024

Footwear Market Size in India

The Indian footwear market reached $X in 2022, growing by X% against the previous year. In general, consumption enjoyed a buoyant expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Footwear Production in India

In value terms, footwear production reached $X in 2022 estimated in export price. Over the period under review, the total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Footwear production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Footwear Exports

Exports from India

In 2022, the amount of footwear exported from India skyrocketed to X pairs, picking up by X% against the year before. Over the period under review, total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, footwear exports surged to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when exports increased by X%. 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

Somalia (X pairs), the United States (X pairs) and the UK (X pairs) were the main destinations of footwear exports from India, with a combined X% share of total exports. Germany, France, Italy, Nigeria, the Netherlands, Spain, Poland, Saudi Arabia, Chad and China lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Chad (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for footwear exported from India were the United States ($X), the UK ($X) and Germany ($X), together accounting for X% of total exports. Italy, France, the Netherlands, Spain, Poland, China, Somalia, Saudi Arabia, Nigeria and Chad lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Chad, with a CAGR of X%, 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 average footwear export price stood at $X per pair in 2022, surging by X% against the previous year. Overall, the export price, however, showed a perceptible descent. The pace of growth was the most pronounced in 2021 an increase of X%. The export price peaked at $X per pair in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per pair), while the average price for exports to Chad ($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 Saudi Arabia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Footwear Imports

Imports into India

In 2022, supplies from abroad of footwear increased by X% to X pairs, rising for the second consecutive year after three years of decline. Overall, total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, imports reached the peak of X pairs. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, footwear imports surged to $X in 2022. Over the period under review, imports enjoyed prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X pairs) constituted the largest supplier of footwear to India, accounting for a X% share of total imports. Moreover, footwear imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X pairs), tenfold. The third position in this ranking was held by Thailand (X pairs), 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 Thailand (X% per year).

In value terms, China ($X), Vietnam ($X) and Bangladesh ($X) constituted the largest footwear suppliers to India, with a combined X% share of total imports.

Among the main suppliers, Bangladesh, with a CAGR of X%, saw the highest growth rate of the value of imports, 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, surging by X% against the previous year. Over the period under review, the import price enjoyed a remarkable increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($X per pair), while the price for China ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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