China has emerged as the largest shoe producing and exporting country worldwide over the recent past. The country produces around 9 Billion pairs of shoes annually, representing nearly 65% of the world's total footwear production as of 2009. The domestic sales of footwear in China have significantly risen on the back of rising online sales and increasing brand awareness. Chinese have shown great interest in the branded shoes after the entrance of many global brands that employ various promotional methods to popularize their products.
As per our new research report “China Footwear Market Analysis”, the footwear industry in China has witnessed robust growth both in terms of consumption and exports. However, the year 2009 witnessed a slight decline in export and production due to many industry restraints such as the imposition of anti-dumping duties. Our research has found that the footwear industry will recover from the 2009 downturn in the near future. The report reveals that the footwear sales will grow at a CAGR of more than 7% in volume terms over the next few years. This growth is highly supported by the fact that an average Chinese consumes only 2 pairs of shoes annually, which is significantly lower than the Western World.
We have also found that the Chinese shoe makers are feeling the heat of economic downturn which has ceased shoe demand from many of its biggest export destinations, including the US and EU. Besides, many countries in the EU and America have imposed anti-dumping duty on Chinese export. This has led to a shift in the focus of Chinese footwear manufacturers towards the ASEAN and Middle East Countries. The country has been facing continuous appreciation in domestic currency (Yuan) coupled with relative increase in production costs like labor force and raw materials.
“China Footwear Market Analysis” comprises thorough research and in-depth analysis of the footwear market in China. Detailed data and qualitative analysis will help clients to evaluate the leading-edge opportunities critical for the success of footwear market. We have given the future outlook of the footwear market in terms of production, consumption and exports along with the shares of different shoe segments like leather shoe, rubber shoe and plastic shoe. The forecasts and estimations are not based on a complex economic model, but are intended as a rough guide to the direction in which the market is likely to move.
The report also features competitive landscape wherein we have covered some leading players in the footwear market to update clients about their business strategies and areas of specialization.
