India: second largest consumer market for footwear
According to the same source, the year 2017 was marked by positive dynamics across the worldwide footwear industry. After two years of stabilization, the worldwide footwear production resumed growth in 2017 reaching 23.5 billion pairs, 2% more than in the previous year. Although this is still far from the fast growth pace registered between 2010 and 2014 (+15.4%), it represents a return to a positive dynamic. In terms of its geographic distribution, production continues to be heavily concentrated in Asia where 87% of all pairs of footwear are manufactured.
Moving in the same direction, and after falling over a two-year period, worldwide footwear exports grew by 0.7% in terms of quantity and by 3.7% in terms of value. Growth was widespread geographically. China that is still responsible for 2 out of every 3 exported pairs of footwear has also recovered from a very negative trend. After a continued loss during the last 5 years, which cut its market share by six points, in 2017 China recovered 0.2 p.p. on and exports started to growth.
In a year marked by the return to growth, India overtook the USA as the second largest consumer of footwear, a milestone in Asia’s ascent to prominence in the world market, reflecting strong demographic and economic trends.
China remains in pole position at the head of the table of the 10 largest footwear consumers where 3 other Asian countries also appear: Pakistan, Japan and Indonesia. These 5 Asian countries represent almost 40% of world consumption.
Source: World Footwear Yearbook (Published on 8th November, 2018)