Footwear Market Overview in Thailand
In value terms, footwear production stood at $ in 2019 estimated in export prices. The total output value increased at an average annual rate of +% from 2007 to 2019; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when the production volume increased by % year-to-year. Over the period under review, production attained the peak level in 2019 and is likely to see steady growth in the immediate term.
The revenue of the footwear market in Thailand amounted to $ in 2019, increasing by % 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). The market value increased at an average annual rate of +% over the period from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the market value increased by % y-o-y. Footwear consumption peaked in 2019 and is likely to see steady growth in years to come.
From 2007 to 2018, the biggest increases were in footwear with uppers of textile materials, while footwear consumption for the other products experienced more modest paces of growth.
In value terms, the most traded types of footwear in Thailand were footwear with uppers of leather ($), footwear with uppers of textile materials ($) and footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap ($), together accounting for % of the total market.
In terms of the main consumed products, footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap saw the highest growth rate of market size, over the period under review, while footwear market for the other products experienced more modest paces of growth.