Asia-Pacific to witness slowest growth in leather footwear production

According to Fibre2Fashion’s market insight tool TexPro, leather footwear production was estimated at 3,339.91 million pairs in the Asia-Pacific region during 2020. It increased to 3,638.17 million pairs in 2021, 3,738.08 million pairs in 2022 and 3,831.66 million pairs in 2023. It may reach 4,116.87 million pairs in 2028. The annual growth in production is estimated at 5.37 per cent between 2020 and 2028.

In Europe, the production of leather footwear may increase to 464.42 million pairs in 2028 from 331.98 million pairs in 2020. Its growth rate will be 8.76 per cent between 2020-2028. Its production was estimated at 369.14 million pairs in 2021, 387.50 million pairs in 2022 and 403.49 million pairs in 2023.

In North America, leather footwear production is expected to grow by 9.92 per cent to reach 129.88 million pairs in 2028. Footwear production has been steadily increasing and was noted at 88.98 million pairs in 2020, 99.63 million pairs in 2021, 109.10 million pairs in 2022 and 113.49 million pairs in 2023.

In South America, the production may reach 246.16 million pairs in 2028 with annual growth of 11.44 per cent. Its production was 159.59 million pairs in 2020, as per TexPro.

Rest of the world, which means non-traditional leather footwear producing countries, have the smallest share in global production. But their footwear production is likely to grow at 15.98 per cent annually to reach 80.22 million pairs in 2028 from 44.52 million pairs in 2020.

ALCHEMPro News Desk (KUL)