Footwear Market Overview in Thailand
In value terms, footwear production stood at $2.1B in 2010 estimated in export prices. Overall, footwear production continues to indicate a deep curtailment. The most prominent rate of growth was recorded in 2010 with a decrease of -1% against the previous year. Over the period under review, footwear production reached its peak figure level at $2.4B in 2007; however, from 2008 to 2010, production failed to regain its momentum.
The revenue of the footwear market in Thailand amounted to $1.2B in 2010, going down by -5.6% 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). Over the period under review, footwear consumption continues to indicate a drastic decrease. The growth pace was the most rapid in 2008 when the market value increased by 7.4% y-o-y. In that year, the footwear market reached its peak level of $1.5B. From 2009 to 2010, the growth of the footwear market remained at a lower figure.
From 2007 to 2010, the most notable rate of growth in terms of footwear consumption, amongst the main consumed products, was attained by waterproof footwear, while footwear consumption for the other products experienced a decline.
In value terms, footwear with uppers of leather ($799M) led the market, alone. The second position in the ranking was occupied by footwear with uppers of textile materials ($229M). It was followed by footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap.
From 2007 to 2010, the average annual growth rate of the market volume of footwear with uppers of leather stood at -4.3%. With regard to the other consumed products, the following average annual rates of growth were recorded: footwear with uppers of textile materials (-5.4% per year) and footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap (-6.0% per year).